Fred Alger Management Inc. reduced its position in The Advisory Board Company (NASDAQ:ABCO) by 5.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 236,330 shares of the business services provider’s stock after selling 13,743 shares during the period. Fred Alger Management Inc. owned about 0.58% of The Advisory Board worth $12,171,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ABCO. Victory Capital Management Inc. purchased a new stake in The Advisory Board in the 1st quarter worth approximately $109,000. Rockefeller Financial Services Inc. purchased a new stake in The Advisory Board in the 2nd quarter worth approximately $137,000. Asset Management One Co. Ltd. purchased a new stake in The Advisory Board in the 1st quarter worth approximately $159,000. Ameritas Investment Partners Inc. purchased a new stake in The Advisory Board in the 1st quarter worth approximately $166,000. Finally, Eqis Capital Management Inc. purchased a new stake in The Advisory Board in the 2nd quarter worth approximately $204,000.

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A number of brokerages have weighed in on ABCO. Zacks Investment Research upgraded shares of The Advisory Board from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Tuesday, July 4th. Stifel Nicolaus reiterated a “hold” rating and issued a $53.00 price target (up previously from $48.00) on shares of The Advisory Board in a report on Thursday, July 6th. KeyCorp reiterated a “hold” rating on shares of The Advisory Board in a report on Friday, September 1st. Cantor Fitzgerald reiterated a “hold” rating and issued a $54.00 price target (up previously from $45.00) on shares of The Advisory Board in a report on Tuesday, August 29th. Finally, Canaccord Genuity lowered shares of The Advisory Board from a “buy” rating to a “hold” rating and decreased their price target for the company from $56.00 to $54.29 in a report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. The Advisory Board presently has an average rating of “Hold” and a consensus price target of $51.95.

The Advisory Board Company (NASDAQ ABCO) opened at 53.85 on Friday. The company’s 50 day moving average is $52.94 and its 200 day moving average is $51.62. The Advisory Board Company has a 12-month low of $24.85 and a 12-month high of $59.50. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 20.45 and a beta of 1.33.

The Advisory Board (NASDAQ:ABCO) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.08). The business had revenue of $200.30 million during the quarter, compared to the consensus estimate of $196.16 million. The Advisory Board had a return on equity of 12.69% and a net margin of 13.65%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 earnings per share. On average, equities analysts anticipate that The Advisory Board Company will post $1.90 earnings per share for the current year.

The Advisory Board Company Profile

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.

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

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