Denver Investment Advisors LLC lowered its position in The Advisory Board Company (NASDAQ:ABCO) by 3.8% during the second quarter, Holdings Channel reports. The fund owned 249,842 shares of the business services provider’s stock after selling 9,768 shares during the period. Denver Investment Advisors LLC’s holdings in The Advisory Board were worth $12,867,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in The Advisory Board during the first quarter worth $109,000. Rockefeller Financial Services Inc. bought a new stake in The Advisory Board during the second quarter worth $137,000. Howard Hughes Medical Institute bought a new stake in The Advisory Board during the first quarter worth $158,000. Asset Management One Co. Ltd. bought a new stake in The Advisory Board during the first quarter worth $159,000. Finally, Ameritas Investment Partners Inc. bought a new stake in The Advisory Board during the first quarter worth $166,000.

The Advisory Board Company (NASDAQ:ABCO) opened at 51.75 on Wednesday. The stock has a 50 day moving average of $54.57 and a 200-day moving average of $49.89. The firm has a market capitalization of $2.11 billion, a PE ratio of 19.65 and a beta of 1.33. The Advisory Board Company has a one year low of $24.85 and a one year high of $59.50.

The Advisory Board (NASDAQ:ABCO) last posted its quarterly 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 firm had revenue of $200.30 million for the quarter, compared to analyst estimates of $196.16 million. The Advisory Board had a net margin of 13.65% and a return on equity of 12.69%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. On average, equities analysts predict that The Advisory Board Company will post $1.91 EPS for the current year.

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A number of research firms have weighed in on ABCO. Robert W. Baird reissued an “outperform” rating and set a $65.00 price objective (up previously from $57.00) on shares of The Advisory Board in a report on Sunday, July 9th. 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. BidaskClub cut shares of The Advisory Board from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $56.00 price objective (up previously from $53.00) on shares of The Advisory Board in a report on Thursday, August 10th. Finally, Credit Suisse Group raised their price objective on shares of The Advisory Board from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $51.42.

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.

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

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