Zacks Investment Research Downgrades Acxiom Corporation (NASDAQ:ACXM) to Sell
Zacks Investment Research cut shares of Acxiom Corporation (NASDAQ:ACXM) from a hold rating to a sell rating in a research report report published on Tuesday morning.
According to Zacks, “Acxiom's first-quarter fiscal 2018 results were disappointing. The company missed the Zacks Consensus Estimate on both lines. Revenues also declined due to weakness in the marketing services segment. Management now expects slower bookings in the marketing services and pricing model changes in the audience solutions segment to hurt top-line growth. We note that the company operates in a competitive landscape that is becoming more complex with low barriers to entry. Notably, the stock has underperformed the industry on a year-to-date basis. Nevertheless, with continued solid contributions from LiveRamp, the company is striving to improve the functionality of its products across all channels and devices. The newly launched IdentityLink is an important product addition, which improves company's growth prospects. Moreover, expanding customer base is signficantly positive in our view.”
A number of other equities research analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Acxiom Corporation from a strong sell rating to a sell rating in a research report on Wednesday, July 19th. BMO Capital Markets reiterated a buy rating and set a $32.00 price target on shares of Acxiom Corporation in a research report on Sunday, July 16th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $35.00 price target on shares of Acxiom Corporation in a research report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $33.20.
Shares of Acxiom Corporation (NASDAQ:ACXM) opened at 22.97 on Tuesday. The company’s market capitalization is $1.83 billion. The stock has a 50 day moving average of $25.95 and a 200-day moving average of $27.24. Acxiom Corporation has a 12-month low of $22.64 and a 12-month high of $30.40.
Acxiom Corporation (NASDAQ:ACXM) last announced its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. Acxiom Corporation had a negative net margin of 0.13% and a positive return on equity of 3.22%. The business had revenue of $213 million during the quarter, compared to analysts’ expectations of $217.32 million. During the same period last year, the business earned $0.15 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts forecast that Acxiom Corporation will post $0.80 EPS for the current year.
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In other news, Director Clark M. Kokich sold 3,855 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $25.84, for a total value of $99,613.20. Following the completion of the transaction, the director now owns 80,506 shares of the company’s stock, valued at $2,080,275.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.54% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meadow Creek Investment Management LLC raised its position in Acxiom Corporation by 0.6% in the first quarter. Meadow Creek Investment Management LLC now owns 4,368 shares of the information technology services provider’s stock valued at $124,000 after buying an additional 28 shares during the last quarter. Riverhead Capital Management LLC raised its position in Acxiom Corporation by 73.9% in the second quarter. Riverhead Capital Management LLC now owns 4,694 shares of the information technology services provider’s stock valued at $122,000 after buying an additional 1,994 shares during the last quarter. Glen Harbor Capital Management LLC raised its position in Acxiom Corporation by 0.6% in the first quarter. Glen Harbor Capital Management LLC now owns 5,304 shares of the information technology services provider’s stock valued at $151,000 after buying an additional 34 shares during the last quarter. LS Investment Advisors LLC raised its position in Acxiom Corporation by 20.5% in the second quarter. LS Investment Advisors LLC now owns 6,172 shares of the information technology services provider’s stock valued at $160,000 after buying an additional 1,050 shares during the last quarter. Finally, potrero capital research llc acquired a new position in Acxiom Corporation during the first quarter valued at approximately $188,000. 96.25% of the stock is owned by institutional investors and hedge funds.
Acxiom Corporation Company Profile
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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