California State Teachers Retirement System lowered its stake in The Advisory Board Company (NASDAQ:ABCO) by 9.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,707 shares of the business services provider’s stock after selling 6,908 shares during the quarter. California State Teachers Retirement System owned about 0.16% of The Advisory Board worth $3,470,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. OxFORD Asset Management LLP increased its stake in shares of The Advisory Board by 1,251.2% during the third quarter. OxFORD Asset Management LLP now owns 743,632 shares of the business services provider’s stock worth $39,894,000 after buying an additional 688,597 shares during the period. Vivaldi Asset Management LLC acquired a new position in The Advisory Board in the third quarter valued at approximately $12,905,000. Dimensional Fund Advisors LP boosted its holdings in The Advisory Board by 4.6% in the third quarter. Dimensional Fund Advisors LP now owns 843,727 shares of the business services provider’s stock valued at $45,245,000 after purchasing an additional 37,429 shares in the last quarter. Omni Partners LLP acquired a new position in The Advisory Board in the third quarter valued at approximately $27,388,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in The Advisory Board by 2.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 183,618 shares of the business services provider’s stock valued at $9,847,000 after purchasing an additional 4,491 shares in the last quarter. 95.50% of the stock is currently owned by institutional investors.
The Advisory Board Company (NASDAQ ABCO) opened at $53.83 on Tuesday. The firm has a market capitalization of $2,190.00, a PE ratio of 30.94, a PEG ratio of 2.40 and a beta of 1.34. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.98. The Advisory Board Company has a 52 week low of $30.40 and a 52 week high of $59.50.
Several equities research analysts have recently weighed in on the company. Robert W. Baird reissued a “hold” rating and issued a $54.00 price objective on shares of The Advisory Board in a report on Wednesday, October 4th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of The Advisory Board in a report on Friday, November 17th. Finally, Wells Fargo & Co downgraded The Advisory Board from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $57.00 to $54.00 in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $51.95.
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About The Advisory Board
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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