Raymond James Financial Services Advisors Inc. boosted its stake in shares of New Oriental Education & Tech Grp (NYSE:EDU) by 146.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 8,164 shares of the company’s stock after purchasing an additional 4,854 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in New Oriental Education & Tech Grp were worth $773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Newbrook Capital Advisors LP bought a new stake in shares of New Oriental Education & Tech Grp in the 1st quarter valued at about $71,100,000. GQG Partners LLC bought a new stake in shares of New Oriental Education & Tech Grp in the 1st quarter valued at about $54,660,000. Emerging Sovereign Group LLC raised its holdings in shares of New Oriental Education & Tech Grp by 420.4% in the 1st quarter. Emerging Sovereign Group LLC now owns 674,208 shares of the company’s stock valued at $59,094,000 after purchasing an additional 544,660 shares in the last quarter. BlackRock Inc. raised its holdings in shares of New Oriental Education & Tech Grp by 8.7% in the 1st quarter. BlackRock Inc. now owns 6,510,533 shares of the company’s stock valued at $570,647,000 after purchasing an additional 519,686 shares in the last quarter. Finally, Sustainable Growth Advisers LP raised its holdings in shares of New Oriental Education & Tech Grp by 74.6% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,018,739 shares of the company’s stock valued at $89,293,000 after purchasing an additional 435,153 shares in the last quarter. Institutional investors own 88.74% of the company’s stock.

Shares of New Oriental Education & Tech Grp stock opened at $76.99 on Wednesday. New Oriental Education & Tech Grp has a 52-week low of $73.51 and a 52-week high of $108.40. The company has a market capitalization of $10.72 billion, a PE ratio of 40.22, a PEG ratio of 1.01 and a beta of 1.28.

New Oriental Education & Tech Grp (NYSE:EDU) last issued its quarterly earnings data on Tuesday, July 24th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. New Oriental Education & Tech Grp had a net margin of 12.10% and a return on equity of 14.79%. The firm had revenue of $701.00 million for the quarter, compared to the consensus estimate of $672.44 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 44.1% compared to the same quarter last year. research analysts forecast that New Oriental Education & Tech Grp will post 2.58 earnings per share for the current year.

Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of New Oriental Education & Tech Grp from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Tuesday, June 26th. ValuEngine lowered shares of New Oriental Education & Tech Grp from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. JPMorgan Chase & Co. boosted their price target on shares of New Oriental Education & Tech Grp from $90.00 to $102.00 and gave the company a “neutral” rating in a report on Tuesday, May 29th. Finally, CLSA lowered shares of New Oriental Education & Tech Grp from an “outperform” rating to an “underperform” rating in a report on Thursday, May 24th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. New Oriental Education & Tech Grp has an average rating of “Hold” and a consensus target price of $105.55.

About New Oriental Education & Tech Grp

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People's Republic of China. The company operates through Language Training and Test Preparation, Primary and Secondary School Education, Online Education, Content Development and Distribution, Pre-School Education, Overseas Study Consulting Services, and Study Tour segments.

Further Reading: How to Use a Moving Average for TradingĀ 

Want to see what other hedge funds are holding EDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New Oriental Education & Tech Grp (NYSE:EDU).

Institutional Ownership by Quarter for New Oriental Education & Tech Grp (NYSE:EDU)

Receive News & Ratings for New Oriental Education & Tech Grp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Oriental Education & Tech Grp and related companies with MarketBeat.com's FREE daily email newsletter.