Envestnet Asset Management Inc. decreased its position in shares of The Advisory Board Company (NASDAQ:ABCO) by 62.2% during the first quarter, Holdings Channel reports. The fund owned 15,471 shares of the business services provider’s stock after selling 25,510 shares during the period. Envestnet Asset Management Inc.’s holdings in The Advisory Board Company were worth $725,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ABCO. Howard Hughes Medical Institute bought a new stake in shares of The Advisory Board Company during the first quarter worth about $158,000. Russell Investments Group Ltd. bought a new stake in shares of The Advisory Board Company during the fourth quarter worth about $3,479,000. Two Sigma Investments LP increased its stake in shares of The Advisory Board Company by 938.7% in the fourth quarter. Two Sigma Investments LP now owns 76,882 shares of the business services provider’s stock worth $2,556,000 after buying an additional 69,480 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of The Advisory Board Company by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 72,192 shares of the business services provider’s stock worth $2,400,000 after buying an additional 3,219 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in shares of The Advisory Board Company by 30.7% in the fourth quarter. Federated Investors Inc. PA now owns 50,384 shares of the business services provider’s stock worth $1,675,000 after buying an additional 11,837 shares during the last quarter.

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

Shares of The Advisory Board Company (ABCO) opened at 51.45 on Thursday. The company has a market cap of $2.09 billion, a PE ratio of 20.85 and a beta of 1.30. The company has a 50-day moving average of $51.11 and a 200 day moving average of $44.34. The Advisory Board Company has a 12 month low of $24.85 and a 12 month high of $54.50.

The Advisory Board Company (NASDAQ:ABCO) last issued its earnings results on Thursday, May 4th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $194.50 million during the quarter, compared to the consensus estimate of $188.43 million. During the same period last year, the company earned $0.44 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts anticipate that The Advisory Board Company will post $1.97 earnings per share for the current year.

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ABCO has been the topic of a number of research reports. Credit Suisse Group raised their price objective on shares of The Advisory Board Company from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Zacks Investment Research downgraded shares of The Advisory Board Company from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. TheStreet downgraded shares of The Advisory Board Company from a “b-” rating to a “c” rating in a report on Friday, May 5th. Robert W. Baird raised shares of The Advisory Board Company from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $50.00 to $53.00 in a report on Monday, March 27th. Finally, J P Morgan Chase & Co downgraded shares of The Advisory Board Company from an “overweight” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a report on Friday, February 17th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The Advisory Board Company presently has an average rating of “Hold” and an average price target of $47.92.

In other The Advisory Board Company news, President David L. Felsenthal sold 12,020 shares of the firm’s stock in a transaction on Friday, March 24th. The stock was sold at an average price of $47.00, for a total value of $564,940.00. Following the completion of the sale, the president now directly owns 65,276 shares of the company’s stock, valued at approximately $3,067,972. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert W. Musslewhite sold 11,000 shares of the firm’s stock in a transaction on Monday, April 10th. The stock was sold at an average price of $47.48, for a total value of $522,280.00. Following the completion of the sale, the chief executive officer now directly owns 262,587 shares of the company’s stock, valued at $12,467,630.76. The disclosure for this sale can be found here. Insiders sold a total of 42,946 shares of company stock valued at $2,027,677 over the last ninety days. Corporate insiders own 4.70% of the company’s stock.

About The Advisory Board Company

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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