State Street Corp grew its stake in The Advisory Board Company (NASDAQ:ABCO) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 831,642 shares of the business services provider’s stock after buying an additional 50,912 shares during the period. State Street Corp owned 2.04% of The Advisory Board worth $42,829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABCO. UBS Asset Management Americas Inc. raised its holdings in shares of The Advisory Board by 132.2% during the first quarter. UBS Asset Management Americas Inc. now owns 21,361 shares of the business services provider’s stock worth $1,000,000 after purchasing an additional 12,162 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of The Advisory Board during the first quarter worth $275,000. Teachers Advisors LLC raised its holdings in shares of The Advisory Board by 1.6% during the first quarter. Teachers Advisors LLC now owns 73,337 shares of the business services provider’s stock worth $3,432,000 after purchasing an additional 1,145 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of The Advisory Board by 41.5% during the first quarter. PNC Financial Services Group Inc. now owns 10,510 shares of the business services provider’s stock worth $493,000 after purchasing an additional 3,084 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of The Advisory Board by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,146,324 shares of the business services provider’s stock worth $147,247,000 after purchasing an additional 106,517 shares during the last quarter. 99.05% of the stock is owned by institutional investors and hedge funds.

The Advisory Board Company (ABCO) opened at $53.63 on Monday. The Advisory Board Company has a fifty-two week low of $30.40 and a fifty-two week high of $59.50. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $2,185.70, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 2.39 and a beta of 1.34.

The Advisory Board (NASDAQ:ABCO) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.08). The Advisory Board had a net margin of 13.65% and a return on equity of 12.69%. The company had revenue of $200.30 million during the quarter, compared to analyst estimates of $196.16 million. During the same quarter last year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. equities research analysts expect that The Advisory Board Company will post 1.5 EPS for the current fiscal year.

Several research analysts recently issued reports on ABCO shares. Piper Jaffray Companies set a $51.00 target price on shares of The Advisory Board and gave the stock a “hold” rating in a report on Thursday, August 10th. Zacks Investment Research cut shares of The Advisory Board from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 25th. KeyCorp reissued a “hold” rating on shares of The Advisory Board in a report on Friday, September 1st. Cantor Fitzgerald reissued a “hold” rating and set a $54.00 target price (up previously from $45.00) on shares of The Advisory Board in a report on Tuesday, August 29th. Finally, Canaccord Genuity cut shares of The Advisory Board from a “buy” rating to a “hold” rating and reduced their target price for the stock from $56.00 to $54.29 in a report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The Advisory Board has a consensus rating of “Hold” and an average price target of $51.95.

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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.

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

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