Stoneridge Investment Partners LLC purchased a new stake in shares of The Advisory Board Co. (NASDAQ:ABCO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 64,611 shares of the company’s stock, valued at approximately $2,287,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABCO. Royal Bank of Canada raised its stake in shares of The Advisory Board by 6.0% in the first quarter. Royal Bank of Canada now owns 1,252,911 shares of the company’s stock worth $40,406,000 after buying an additional 70,769 shares in the last quarter. A.R.T. Advisors LLC raised its stake in shares of The Advisory Board by 615.3% in the first quarter. A.R.T. Advisors LLC now owns 42,781 shares of the company’s stock worth $1,379,000 after buying an additional 36,800 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of The Advisory Board during the first quarter worth approximately $6,165,000. Legal & General Group Plc raised its stake in shares of The Advisory Board by 52.6% in the first quarter. Legal & General Group Plc now owns 11,492 shares of the company’s stock worth $371,000 after buying an additional 3,961 shares in the last quarter. Finally, AXA raised its stake in shares of The Advisory Board by 28.5% in the first quarter. AXA now owns 27,640 shares of the company’s stock worth $891,000 after buying an additional 6,129 shares in the last quarter.

The Advisory Board Co. (NASDAQ:ABCO) traded up 3.07% during trading on Wednesday, hitting $44.31. 311,438 shares of the company traded hands. The Advisory Board Co. has a 12-month low of $18.87 and a 12-month high of $54.84. The company’s market capitalization is $1.78 billion. The stock has a 50 day moving average price of $42.25 and a 200 day moving average price of $35.74.

The Advisory Board (NASDAQ:ABCO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.13. The Advisory Board had a positive return on equity of 11.59% and a negative net margin of 10.21%. The business had revenue of $198.40 million for the quarter, compared to analysts’ expectations of $196.49 million. During the same period in the previous year, the business posted $0.40 EPS. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts anticipate that The Advisory Board Co. will post $1.86 earnings per share for the current year.

A number of brokerages have recently commented on ABCO. Zacks Investment Research raised shares of The Advisory Board from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday, July 6th. Raymond James Financial Inc. lowered shares of The Advisory Board from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 19th. Credit Suisse Group AG reissued a “buy” rating and issued a $50.00 price objective on shares of The Advisory Board in a research report on Friday, September 16th. Barclays PLC boosted their price objective on shares of The Advisory Board from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $37.00 price objective on shares of The Advisory Board in a research report on Thursday, July 28th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $43.40.

In other The Advisory Board news, insider Cormac F. Miller sold 1,500 shares of The Advisory Board stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $43.04, for a total transaction of $64,560.00. Following the completion of the transaction, the insider now owns 18,987 shares of the company’s stock, valued at approximately $817,200.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert W. Musslewhite sold 5,500 shares of The Advisory Board stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $43.09, for a total value of $236,995.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

About The Advisory Board

The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company’s healthcare programs address a range of clinical and business issues, including physician alignment and engagement, network management and growth strategy, value-based care and population health, revenue cycle, clinical operations and supply chain.

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