Acxiom Corp. (ACXM) Downgraded to Hold at Zacks Investment Research
Acxiom Corp. (NASDAQ:ACXM) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Acxiom reported relatively healthy first-quarter fiscal 2017 results . The company has reorganized its segments to better align its operations and improve margins. Over the years, the company has emerged as a formidable player in the field of marketing services and technology. With continued solid contributions from LiveRamp, Acxiom is striving to improve the functionality of its products across all channels and devices. It continues to reposition its portfolio by divesting assets that no longer fit its corporate strategy. Additionally, the company’s newly-introduced customized product range is successfully catering to the needs of its clients. However, the company operates in a competitive landscape that is becoming more complex with low barriers to entry. In addition, strength in U.S. dollars, a competitive landscape and soft macroeconomic conditions across the globe remain headwinds for Acxiom.”
Several other research firms have also recently weighed in on ACXM. BMO Capital Markets raised shares of Acxiom Corp. from a “market perform” rating to an “outperform” rating and raised their target price for the company from $23.00 to $28.00 in a research note on Friday, August 5th. Cantor Fitzgerald initiated coverage on shares of Acxiom Corp. in a research note on Wednesday, September 14th. They issued a “buy” rating and a $31.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Acxiom Corp. in a research note on Wednesday, August 10th. Finally, Dougherty & Co lifted their price objective on shares of Acxiom Corp. from $28.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $30.75.
Acxiom Corp. (NASDAQ:ACXM) opened at 26.18 on Friday. The company has a market capitalization of $2.03 billion, a P/E ratio of 173.38 and a beta of 1.26. Acxiom Corp. has a 52 week low of $17.32 and a 52 week high of $27.24. The stock’s 50 day moving average is $26.20 and its 200 day moving average is $23.20.
Acxiom Corp. (NASDAQ:ACXM) last posted its earnings results on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.06. The company earned $215 million during the quarter, compared to analysts’ expectations of $203.38 million. Acxiom Corp. had a net margin of 1.35% and a return on equity of 3.44%. Acxiom Corp.’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $0.09 earnings per share. On average, equities research analysts expect that Acxiom Corp. will post $0.59 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Acxiom Corp. by 2.1% in the first quarter. State Street Corp now owns 2,391,900 shares of the company’s stock worth $51,284,000 after buying an additional 49,798 shares in the last quarter. Victory Capital Management Inc. boosted its position in Acxiom Corp. by 2.7% in the second quarter. Victory Capital Management Inc. now owns 2,078,700 shares of the company’s stock worth $45,710,000 after buying an additional 54,925 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Acxiom Corp. by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,266,346 shares of the company’s stock worth $48,590,000 after buying an additional 43,115 shares in the last quarter. Teachers Advisors Inc. boosted its position in Acxiom Corp. by 2.6% in the first quarter. Teachers Advisors Inc. now owns 116,687 shares of the company’s stock worth $2,502,000 after buying an additional 2,956 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Acxiom Corp. by 8.7% in the first quarter. Prudential Financial Inc. now owns 54,299 shares of the company’s stock worth $1,165,000 after buying an additional 4,358 shares in the last quarter. 96.13% of the stock is owned by hedge funds and other institutional investors.
About Acxiom Corp.
Acxiom Corporation (Acxiom) is a technology and enablement services company. The Company operates through three business segments: Marketing Services, Audience Solutions, and Connectivity. The Company’s Marketing Services segment helps clients to unify data at individual level. The Audience Solutions segment helps clients to validate the accuracy of their people-based data, enhance it with additional insight and keep it up to date, enabling clients to reach desired audiences with relevant messages.
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