Legato Capital Management LLC raised its stake in Navigant Consulting, Inc. (NYSE:NCI) by 1,252.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,591 shares of the business services provider’s stock after buying an additional 25,551 shares during the period. Legato Capital Management LLC owned 0.06% of Navigant Consulting worth $545,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dubuque Bank & Trust Co. acquired a new position in shares of Navigant Consulting during the first quarter valued at about $274,000. Independent Portfolio Consultants Inc. increased its position in shares of Navigant Consulting by 5.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 48,390 shares of the business services provider’s stock valued at $1,106,000 after buying an additional 2,355 shares during the last quarter. Northwest Investment Counselors LLC increased its position in shares of Navigant Consulting by 3.6% in the first quarter. Northwest Investment Counselors LLC now owns 39,328 shares of the business services provider’s stock valued at $899,000 after buying an additional 1,353 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Navigant Consulting by 1.4% in the first quarter. State of Alaska Department of Revenue now owns 5,200 shares of the business services provider’s stock valued at $118,000 after buying an additional 70 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of Navigant Consulting by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 19,100 shares of the business services provider’s stock valued at $437,000 after buying an additional 200 shares during the last quarter. 92.14% of the stock is currently owned by institutional investors.
Shares of Navigant Consulting, Inc. (NCI) traded down 0.15% during mid-day trading on Friday, hitting $20.19. 327,306 shares of the stock traded hands. The firm’s 50 day moving average price is $19.83 and its 200-day moving average price is $22.20. The stock has a market cap of $953.94 million, a P/E ratio of 17.41 and a beta of 0.86. Navigant Consulting, Inc. has a 12-month low of $17.13 and a 12-month high of $27.86.
Navigant Consulting (NYSE:NCI) last issued its earnings results on Wednesday, May 3rd. The business services provider reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The company had revenue of $236.20 million for the quarter, compared to analysts’ expectations of $241.52 million. Navigant Consulting had a net margin of 5.53% and a return on equity of 9.83%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. Analysts predict that Navigant Consulting, Inc. will post $1.15 earnings per share for the current year.
Navigant Consulting declared that its board has approved a stock repurchase program on Wednesday, May 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the business services provider to buy up to 9.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Several brokerages have issued reports on NCI. Zacks Investment Research downgraded shares of Navigant Consulting from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. TheStreet downgraded shares of Navigant Consulting from a “b” rating to a “c+” rating in a report on Friday, May 12th. Finally, Cowen and Company lifted their target price on shares of Navigant Consulting from $16.50 to $24.00 and gave the company an “outperform” rating in a report on Friday, June 9th.
About Navigant Consulting
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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