Navigant Consulting, Inc. (NYSE:NCI) Stake Increased by Bank of America Corp DE
Bank of America Corp DE boosted its stake in Navigant Consulting, Inc. (NYSE:NCI) by 43.8% during the first quarter, Holdings Channel reports. The firm owned 106,538 shares of the business services provider’s stock after buying an additional 32,459 shares during the period. Bank of America Corp DE’s holdings in Navigant Consulting were worth $2,436,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Navigant Consulting by 44,959.5% in the first quarter. BlackRock Inc. now owns 5,737,425 shares of the business services provider’s stock valued at $131,156,000 after buying an additional 5,724,692 shares during the period. Vanguard Group Inc. boosted its position in Navigant Consulting by 5.6% in the first quarter. Vanguard Group Inc. now owns 4,237,826 shares of the business services provider’s stock valued at $96,877,000 after buying an additional 225,913 shares during the period. Bank of New York Mellon Corp boosted its position in Navigant Consulting by 27.9% in the first quarter. Bank of New York Mellon Corp now owns 872,601 shares of the business services provider’s stock valued at $19,946,000 after buying an additional 190,123 shares during the period. Tributary Capital Management LLC boosted its position in Navigant Consulting by 24.2% in the first quarter. Tributary Capital Management LLC now owns 784,175 shares of the business services provider’s stock valued at $17,926,000 after buying an additional 152,718 shares during the period. Finally, Seizert Capital Partners LLC bought a new position in Navigant Consulting during the first quarter valued at about $3,314,000. Hedge funds and other institutional investors own 93.73% of the company’s stock.
Shares of Navigant Consulting, Inc. (NCI) traded down 0.26% during mid-day trading on Friday, reaching $15.22. 91,244 shares of the company were exchanged. The stock has a market capitalization of $717.04 million, a P/E ratio of 14.63 and a beta of 0.83. The firm has a 50-day moving average price of $18.80 and a 200 day moving average price of $21.44. Navigant Consulting, Inc. has a 12 month low of $14.93 and a 12 month high of $27.86.
Navigant Consulting (NYSE:NCI) last announced its quarterly earnings results on Monday, July 31st. The business services provider reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.09. Navigant Consulting had a net margin of 4.97% and a return on equity of 8.95%. The company had revenue of $235.20 million during the quarter, compared to the consensus estimate of $253.66 million. During the same period in the previous year, the firm posted $0.33 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Navigant Consulting, Inc. will post $1.15 EPS for the current fiscal year.
Navigant Consulting announced that its Board of Directors has approved a share buyback program on Wednesday, May 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 9.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
NCI has been the subject of several recent analyst reports. TheStreet cut shares of Navigant Consulting from a “b” rating to a “c+” rating in a report on Friday, May 12th. Zacks Investment Research cut shares of Navigant Consulting from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st. ValuEngine cut shares of Navigant Consulting from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub cut shares of Navigant Consulting from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, Cowen and Company raised their target price on shares of Navigant Consulting from $16.50 to $24.00 and gave the stock an “outperform” rating in a report on Friday, June 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. Navigant Consulting currently has a consensus rating of “Hold” and a consensus price target of $24.50.
Navigant Consulting Company Profile
Navigant Consulting, Inc is a global professional services company. The Company serves clients in the healthcare, energy and financial services industries. It operates through four segments. The Healthcare segment provides consulting services and business process management services. The Energy segment provides advisory solutions in business strategy and planning, distributed energy resources and renewables, energy efficiency and demand response and grid modernization The Financial Services Advisory and Compliance segment provides strategic, operational, valuation, risk management, investigative and compliance advisory services to clients primarily in the financial services industry.
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