Cantor Fitzgerald Initiates Coverage on Acxiom Corp. (ACXM)
Several other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Acxiom Corp. from a hold rating to a strong-buy rating and set a $29.00 price objective on the stock in a research note on Wednesday, August 10th. BMO Capital Markets upgraded shares of Acxiom Corp. from a market perform rating to an outperform rating and upped their target price for the stock from $23.00 to $28.00 in a research report on Friday, August 5th. William Blair reiterated an outperform rating on shares of Acxiom Corp. in a research report on Wednesday, August 10th. Finally, Dougherty & Co initiated coverage on shares of Acxiom Corp. in a research report on Tuesday, May 24th. They set a buy rating and a $28.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Acxiom Corp. has an average rating of Buy and an average target price of $30.75.
Acxiom Corp. (NASDAQ:ACXM) opened at 26.68 on Wednesday. The stock has a market capitalization of $2.07 billion, a PE ratio of 176.69 and a beta of 1.20. Acxiom Corp. has a 52-week low of $17.32 and a 52-week high of $27.03. The firm’s 50-day moving average is $25.40 and its 200 day moving average is $22.71.
Acxiom Corp. (NASDAQ:ACXM) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.06. The firm had revenue of $215 million for the quarter, compared to analysts’ expectations of $203.38 million. Acxiom Corp. had a net margin of 1.35% and a return on equity of 3.44%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, equities analysts forecast that Acxiom Corp. will post $0.59 earnings per share for the current year.
In related news, insider S. Travis May sold 31,354 shares of the stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $21.75, for a total value of $681,949.50. Following the transaction, the insider now directly owns 244,758 shares in the company, valued at $5,323,486.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.11% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in ACXM. Vanguard Group Inc. raised its position in shares of Acxiom Corp. by 5.3% in the second quarter. Vanguard Group Inc. now owns 5,581,688 shares of the company’s stock valued at $122,741,000 after buying an additional 280,115 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Acxiom Corp. by 2.8% in the second quarter. BlackRock Fund Advisors now owns 3,871,138 shares of the company’s stock valued at $85,126,000 after buying an additional 105,097 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of Acxiom Corp. by 3.6% in the second quarter. Lord Abbett & CO. LLC now owns 3,371,499 shares of the company’s stock valued at $74,139,000 after buying an additional 118,093 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Acxiom Corp. by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,809,122 shares of the company’s stock valued at $61,771,000 after buying an additional 145,724 shares in the last quarter. Finally, State Street Corp raised its position in shares of Acxiom Corp. by 0.4% in the second quarter. State Street Corp now owns 2,402,129 shares of the company’s stock valued at $52,824,000 after buying an additional 10,229 shares in the last quarter. Institutional investors and hedge funds own 96.13% of the company’s stock.
About Acxiom Corp.
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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