Acxiom Corporation (ACXM) Rating Increased to Buy at Zacks Investment Research
Acxiom Corporation (NASDAQ:ACXM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $30.00 price target on the information technology services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.94% from the company’s current price.
According to Zacks, “Acxiom reported impressive second-quarter fiscal 2018 results. Both earnings and revenues increased on a year-over-year basis driven by robust performance from the Connectivity segment. With continued solid contributions from LiveRamp, the company is striving to improve the functionality of its products across all channels and devices. IdentityLink has gained significant traction within a short-span of time, which improves company's growth prospects. Moreover, expanding customer base is significantly positive in our view. Nevertheless, 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.”
A number of other equities analysts also recently commented on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $35.00 target price on shares of Acxiom Corporation in a research note on Thursday. Dougherty & Co reaffirmed a “buy” rating on shares of Acxiom Corporation in a research note on Thursday, August 17th. BidaskClub downgraded shares of Acxiom Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $32.00 price target on shares of Acxiom Corporation in a research note on Sunday, July 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $32.60.
Shares of Acxiom Corporation (NASDAQ:ACXM) traded up $0.21 during mid-day trading on Monday, reaching $26.80. 213,829 shares of the company’s stock were exchanged, compared to its average volume of 443,397. The company has a quick ratio of 2.27, a current ratio of 2.23 and a debt-to-equity ratio of 0.30. Acxiom Corporation has a one year low of $21.80 and a one year high of $30.40. The stock has a market capitalization of $2,104.25, a P/E ratio of 110.79, a PEG ratio of 5.06 and a beta of 1.28.
Acxiom Corporation (NASDAQ:ACXM) last issued its earnings results on Wednesday, November 1st. The information technology services provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Acxiom Corporation had a negative net margin of 1.31% and a positive return on equity of 2.61%. The company had revenue of $225.24 million for the quarter, compared to the consensus estimate of $222.05 million. During the same period in the previous year, the firm earned $0.18 earnings per share. Acxiom Corporation’s quarterly revenue was up 3.7% compared to the same quarter last year. analysts anticipate that Acxiom Corporation will post 0.35 earnings per share for the current fiscal year.
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In related news, CFO Warren Jenson purchased 10,000 shares of Acxiom Corporation stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average cost of $22.09 per share, with a total value of $220,900.00. Following the purchase, the chief financial officer now owns 377,415 shares of the company’s stock, valued at $8,337,097.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.54% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in ACXM. ETF Managers Group LLC purchased a new stake in shares of Acxiom Corporation in the 2nd quarter valued at approximately $119,000. Riverhead Capital Management LLC raised its stake in shares of Acxiom Corporation by 73.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,694 shares of the information technology services provider’s stock valued at $122,000 after acquiring an additional 1,994 shares during the period. LS Investment Advisors LLC raised its stake in shares of Acxiom Corporation by 20.5% in the 2nd quarter. LS Investment Advisors LLC now owns 6,172 shares of the information technology services provider’s stock valued at $160,000 after acquiring an additional 1,050 shares during the period. Shelton Capital Management purchased a new stake in shares of Acxiom Corporation in the 2nd quarter valued at approximately $213,000. Finally, Quantbot Technologies LP grew its holdings in shares of Acxiom Corporation by 384.9% in the second quarter. Quantbot Technologies LP now owns 8,825 shares of the information technology services provider’s stock valued at $229,000 after purchasing an additional 7,005 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.
About Acxiom Corporation
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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