Goldman Sachs Group Inc. decreased its position in shares of The Advisory Board Company (NASDAQ:ABCO) by 33.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 292,282 shares of the business services provider’s stock after selling 150,127 shares during the period. Goldman Sachs Group Inc. owned about 0.72% of The Advisory Board worth $15,053,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Janus Capital Management LLC grew its holdings in shares of The Advisory Board by 35.4% during the 1st quarter. Janus Capital Management LLC now owns 3,346,695 shares of the business services provider’s stock worth $156,622,000 after acquiring an additional 874,688 shares during the period. Vanguard Group Inc. grew its holdings in shares of The Advisory Board by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,286,571 shares of the business services provider’s stock worth $169,259,000 after acquiring an additional 140,247 shares during the period. BlackRock Inc. grew its holdings in shares of The Advisory Board by 72,455.6% during the 1st quarter. BlackRock Inc. now owns 2,545,252 shares of the business services provider’s stock worth $119,119,000 after acquiring an additional 2,541,744 shares during the period. Elliott Management Corp purchased a new position in shares of The Advisory Board during the 1st quarter worth approximately $95,047,000. Finally, Neuberger Berman Group LLC grew its holdings in shares of The Advisory Board by 12.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,468,575 shares of the business services provider’s stock worth $75,632,000 after acquiring an additional 162,150 shares during the period.

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ABCO has been the topic of a number of research analyst reports. Zacks Investment Research downgraded The Advisory Board from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 25th. William Blair downgraded The Advisory Board from an “outperform” rating to a “hold” rating in a report on Tuesday, August 29th. Robert W. Baird downgraded The Advisory Board from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $63.00 to $54.00 in a report on Tuesday, August 29th. Canaccord Genuity downgraded 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. Finally, Cantor Fitzgerald reiterated 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. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The Advisory Board presently has an average rating of “Hold” and an average price target of $51.95.

Shares of The Advisory Board Company (NASDAQ:ABCO) opened at 53.90 on Monday. The Advisory Board Company has a 12 month low of $24.85 and a 12 month high of $59.50. The company has a market capitalization of $2.19 billion, a PE ratio of 20.47 and a beta of 1.33. The stock has a 50 day moving average price of $53.44 and a 200-day moving average price of $52.06.

The Advisory Board (NASDAQ:ABCO) last issued its quarterly earnings data 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 business had revenue of $200.30 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. Analysts forecast that The Advisory Board Company will post $1.90 EPS for the current year.

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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