Riverbridge Partners LLC lowered its stake in The Advisory Board Company (NASDAQ:ABCO) by 7.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 6,190 shares of the business services provider’s stock after selling 517 shares during the period. Riverbridge Partners LLC’s holdings in The Advisory Board were worth $319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of The Advisory Board during the fourth quarter worth about $12,464,000. Teachers Advisors LLC boosted its position in shares of The Advisory Board by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 72,192 shares of the business services provider’s stock worth $2,400,000 after buying an additional 3,219 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of The Advisory Board during the fourth quarter worth about $217,000. Confluence Investment Management LLC boosted its position in shares of The Advisory Board by 6.9% in the first quarter. Confluence Investment Management LLC now owns 784,882 shares of the business services provider’s stock worth $36,732,000 after buying an additional 50,775 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of The Advisory Board by 218.3% in the first quarter. Nisa Investment Advisors LLC now owns 23,870 shares of the business services provider’s stock worth $1,117,000 after buying an additional 16,370 shares during the period.

The Advisory Board Company (NASDAQ ABCO) opened at 54.45 on Monday. The company’s 50-day moving average is $54.17 and its 200-day moving average is $49.23. The Advisory Board Company has a 52 week low of $24.85 and a 52 week high of $59.50. The company has a market cap of $2.21 billion, a P/E ratio of 22.06 and a beta of 1.33.

The Advisory Board (NASDAQ:ABCO) last released its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.12. The business had revenue of $194.50 million during the quarter, compared to analyst estimates of $188.43 million. The Advisory Board had a net margin of 12.78% and a return on equity of 14.48%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. On average, analysts anticipate that The Advisory Board Company will post $1.97 EPS for the current fiscal year.

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ABCO has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of The Advisory Board from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Stifel Nicolaus restated a “hold” rating and issued a $53.00 target price (up previously from $48.00) on shares of The Advisory Board in a research report on Thursday, July 6th. TheStreet lowered shares of The Advisory Board from a “b-” rating to a “c” rating in a research report on Friday, May 5th. Credit Suisse Group raised their target price on shares of The Advisory Board from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Finally, BidaskClub lowered shares of The Advisory Board from a “hold” rating to a “sell” rating in a research report on Saturday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $50.33.

About The Advisory Board

The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company offers subscription-based membership programs, software and data-enabled services. All of its programs are rooted in best practices and extends across four areas, including Best practices research, Technology, Data-enabled services and Consulting services.

Institutional Ownership by Quarter for The Advisory Board (NASDAQ:ABCO)

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