The stock is trading at $56.85 which is just a bit higher than $51.39, the stock’s 50 day moving average and which is slightly above the 200 day moving average of $45.66. The 50 day moving average was up by +10.62% and the 200 day average went up by +24.51%. (NASDAQ:ABCO) shares saw heavy trading volume with 467K shares changing hands in the last trading session. Volume was up 58.82% over the stocks average daily volume.
Short traders are feeling a little more bullish on shares of the company if you watch the change in short interest. The stock experienced a fall in short interest from June 15, 2017 to May 31, 2017 of -12.65%. Short interest fell 302,330 over that period. The short-interest ratio decreased to 4.5 and the short interest percentage is 0.05% as of May 31.
The Advisory Board Company (NASDAQ:ABCO) has been the object of insider selling activity recently. Cormac F. Miller, Chief Product Officer disclosed the sale of 750 shares of (ABCO). The shares were sold on April 19th for an average price of $47.37. The Chief Product Officer now owns $983,070 of the stock according to the SEC filing. Cormac F. Miller, Chief Product Officer sold $35,400 worth of shares at an average price of $47.20 on April 12th. That brings the Chief Product Officer’s holdings to $921,674 as reported to the SEC.
Robert W. Musslewhite, CEO sold $523,270 worth of shares at an average price of $47.57 on Mon the 10th. The CEO now owns $12,456,966 of the stock per an SEC filing yesterday.
The following firms have also recently changed their position in ABCO. As of the end of the quarter Creative Planning had acquired 55 shares growing its stake by 8.3%. The value of the investment in (ABCO) increased from $31,000 to $37,000 a change of 19.4% quarter over quarter. Atria Investments LLC bolstered its position by buying 113 shares an increase of 1.9%. Atria Investments LLC now controls 6,158 shares worth $317,000. The value of the position overall is up by 12.0%.
As of quarter end Clearbridge Investments, LLC had bought a total of 818 shares growing its holdings by 0.2%. The value of the investment in The Advisory Board Company went from $12,424,000 to $17,525,000 increasing 41.1% for the reporting period. As of quarter end Mackenzie Financial Corp had acquired 65,000 shares growing its position 5.4%. The value in dollars increased from $40,260,000 to $59,709,000 a change of $19,449,000 since the last quarter.
On November 7 the company was downgraded from “Buy” to “Underperform” in a report issued by Bank of America. On July 28 the company was set at “Buy” according to a Craig-Hallum report a boost from the previous “Hold” rating.
On July 19, 2016 the stock rating was changed to a “Market Perform” in a report from Raymond James which is down from the previous “Outperform” rating. Equity analyst Credit Suisse initiated coverage on the stock with a rating of “Outperform” and projecting a price target of $40.00.
On May 12 SunTrust Robinson Humphrey made no change to the stock rating of “Buy” and moved down the price target to $40.00 from $78.00. May 2 investment analysts at Avondale Partners held the stock rating at “Market Perform” but moved up the price target from $31.00 to $34.00.
The company is so far trading up by 1.88% since yesterday’s close of $55.8. The Advisory Board Company’s P/E ratio is 23.03 and the market cap is 2.31B. As of the last earnings report the EPS was $2.47 and is estimated to be $1.97 for the current year with 40,583,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.48 and the next full year EPS is anticipated to be $2.13.
The Advisory Board Company, launched on August 9, 2001, 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..