Cubist Systematic Strategies LLC Acquires New Stake in The Advisory Board Company (ABCO)

Cubist Systematic Strategies LLC acquired a new stake in The Advisory Board Company (NASDAQ:ABCO) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,292 shares of the business services provider’s stock, valued at approximately $221,000.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of The Advisory Board by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,286,571 shares of the business services provider’s stock valued at $169,259,000 after purchasing an additional 140,247 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of The Advisory Board in the 2nd quarter valued at approximately $139,617,000. BlackRock Inc. increased its position in shares of The Advisory Board by 72,455.6% in the 1st quarter. BlackRock Inc. now owns 2,545,252 shares of the business services provider’s stock valued at $119,119,000 after purchasing an additional 2,541,744 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of The Advisory Board by 12.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,468,575 shares of the business services provider’s stock valued at $75,632,000 after purchasing an additional 162,150 shares during the last quarter. Finally, Confluence Investment Management LLC increased its position in shares of The Advisory Board by 10.7% in the 2nd quarter. Confluence Investment Management LLC now owns 868,657 shares of the business services provider’s stock valued at $44,735,000 after purchasing an additional 83,775 shares during the last quarter. 99.30% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on the stock. Robert W. Baird reissued an “outperform” rating and issued a $65.00 price objective (up from $57.00) on shares of The Advisory Board in a research report on Sunday, July 9th. Zacks Investment Research downgraded shares of The Advisory Board from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub downgraded shares of The Advisory Board from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Stifel Nicolaus reissued a “hold” rating and issued a $53.00 price objective (up from $48.00) on shares of The Advisory Board in a research report on Thursday, July 6th. Finally, Wells Fargo & Company downgraded shares of The Advisory Board from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $57.00 to $54.00 in a research report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The Advisory Board currently has an average rating of “Hold” and an average price target of $51.95.

The Advisory Board (NASDAQ:ABCO) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The company 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 firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS.

ILLEGAL ACTIVITY WARNING: “Cubist Systematic Strategies LLC Acquires New Stake in The Advisory Board Company (ABCO)” was reported by Community Financial News and is the property of of Community Financial News. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.com-unik.info/2017/11/03/cubist-systematic-strategies-llc-acquires-new-stake-in-the-advisory-board-company-abco.html.

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.

Want to see what other hedge funds are holding ABCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Advisory Board Company (NASDAQ:ABCO).

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

What are top analysts saying about The Advisory Board Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for The Advisory Board Company and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit