Capstone Asset Management Co. reduced its stake in shares of Navigant Consulting, Inc. (NYSE:NCI) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 12,726 shares of the business services provider’s stock after selling 880 shares during the period. Capstone Asset Management Co.’s holdings in Navigant Consulting were worth $251,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of NCI. American Century Companies Inc. purchased a new stake in Navigant Consulting during the first quarter valued at $1,133,000. Algert Global LLC increased its stake in Navigant Consulting by 22.7% in the first quarter. Algert Global LLC now owns 100,621 shares of the business services provider’s stock valued at $2,300,000 after buying an additional 18,603 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Navigant Consulting by 6.3% in the first quarter. Great West Life Assurance Co. Can now owns 64,531 shares of the business services provider’s stock valued at $1,473,000 after buying an additional 3,824 shares during the last quarter. Bowling Portfolio Management LLC purchased a new stake in Navigant Consulting during the first quarter valued at $717,000. Finally, Essex Investment Management Co. LLC increased its stake in Navigant Consulting by 22.4% in the first quarter. Essex Investment Management Co. LLC now owns 64,895 shares of the business services provider’s stock valued at $1,483,000 after buying an additional 11,881 shares during the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.
Shares of Navigant Consulting, Inc. (NYSE:NCI) traded up 0.20% during trading on Friday, reaching $14.91. The company had a trading volume of 96,072 shares. The stock has a market capitalization of $696.74 million, a price-to-earnings ratio of 14.34 and a beta of 0.83. The stock has a 50 day moving average of $18.18 and a 200 day moving average of $21.09. Navigant Consulting, Inc. has a 52-week low of $14.71 and a 52-week high of $27.86.
Navigant Consulting (NYSE:NCI) last issued its earnings results on Monday, July 31st. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.09. Navigant Consulting had a return on equity of 8.95% and a net margin of 4.97%. The business had revenue of $235.20 million during the quarter, compared to the consensus estimate of $253.66 million. During the same period in the prior year, the business earned $0.33 EPS. The business’s revenue was down 1.4% on a year-over-year basis. Equities research analysts forecast that Navigant Consulting, Inc. will post $1.15 EPS for the current year.
Navigant Consulting declared that its Board of Directors has initiated 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 buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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Several research firms have recently weighed in on NCI. Zacks Investment Research downgraded Navigant Consulting from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. TheStreet downgraded Navigant Consulting from a “b” rating to a “c+” rating in a report on Friday, May 12th. Cowen and Company boosted their target price on Navigant Consulting from $16.50 to $24.00 and gave the company an “outperform” rating in a report on Friday, June 9th. ValuEngine downgraded Navigant Consulting from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, BidaskClub downgraded Navigant Consulting from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Navigant Consulting presently has an average rating of “Hold” and an average 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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