The Advisory Board Company (ABCO) Position Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in The Advisory Board Company (NASDAQ:ABCO) by 41.5% during the first quarter, Holdings Channel reports. The firm owned 10,510 shares of the business services provider’s stock after buying an additional 3,084 shares during the period. PNC Financial Services Group Inc.’s holdings in The Advisory Board Company were worth $493,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ABCO. Neuberger Berman Group LLC boosted its stake in The Advisory Board Company by 20,493.1% in the first quarter. Neuberger Berman Group LLC now owns 1,306,425 shares of the business services provider’s stock valued at $61,141,000 after buying an additional 1,300,081 shares during the period. First Eagle Investment Management LLC acquired a new stake in The Advisory Board Company during the first quarter valued at $24,907,000. FIL Ltd boosted its stake in The Advisory Board Company by 991.2% in the first quarter. FIL Ltd now owns 472,004 shares of the business services provider’s stock valued at $22,090,000 after buying an additional 428,750 shares during the period. Norges Bank acquired a new stake in The Advisory Board Company during the fourth quarter valued at $12,464,000. Finally, MUFG Securities EMEA plc acquired a new stake in The Advisory Board Company during the first quarter valued at $9,828,000.

The Advisory Board Company (NASDAQ:ABCO) opened at 57.10 on Monday. The stock has a market capitalization of $2.32 billion, a P/E ratio of 23.14 and a beta of 1.31. The stock has a 50 day moving average price of $51.39 and a 200-day moving average price of $45.66. The Advisory Board Company has a 1-year low of $24.85 and a 1-year high of $59.50.

The Advisory Board Company (NASDAQ:ABCO) last released its earnings results on Thursday, May 4th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.12. The Advisory Board Company had a return on equity of 14.48% and a net margin of 12.78%. The firm had revenue of $194.50 million for the quarter, compared to the consensus estimate of $188.43 million. During the same period in the prior year, the firm earned $0.44 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. Equities research analysts expect that The Advisory Board Company will post $1.97 EPS for the current year.

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ABCO has been the subject of several research analyst reports. Zacks Investment Research cut The Advisory Board Company from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. Robert W. Baird raised The Advisory Board Company from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $50.00 to $53.00 in a research report on Monday, March 27th. Credit Suisse Group increased their target price on The Advisory Board Company from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. TheStreet lowered The Advisory Board Company from a “b-” rating to a “c” rating in a research report on Friday, May 5th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $53.00 target price (up previously from $48.00) on shares of The Advisory Board Company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The Advisory Board Company presently has a consensus rating of “Hold” and an average target price of $49.31.

In related news, insider Cormac F. Miller sold 750 shares of the company’s stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $47.37, for a total value of $35,527.50. Following the transaction, the insider now directly owns 21,360 shares of the company’s stock, valued at approximately $1,011,823.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.70% of the stock is owned by corporate insiders.

The Advisory Board Company Company Profile

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 Company (NASDAQ:ABCO)

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