Acxiom Corporation (NASDAQ:ACXM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Acxiom's first-quarter fiscal 2018 results were disappointing. Revenues declined due to weakness in the marketing services segment. Management now expects slower bookings in the marketing services and pricing model changes in the audience solutions segment to hurt top-line growth. We note that the company operates in a competitive landscape that is becoming more complex with low barriers to entry. Notably, the stock has underperformed the industry on a year-to-date basis. Nevertheless, with continued solid contributions from LiveRamp, the company is striving to improve the functionality of its products across all channels and devices. The newly launched IdentityLink is an important product addition, which improves company's growth prospects. Moreover, expanding customer base is signficantly positive in our view.”
Several other research analysts have also weighed in on the company. Dougherty & Co reaffirmed a “buy” rating on shares of Acxiom Corporation in a research report on Thursday, August 17th. Cantor Fitzgerald reiterated a “buy” rating and issued a $33.00 target price on shares of Acxiom Corporation in a report on Friday, September 22nd. BidaskClub downgraded Acxiom Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Finally, BMO Capital Markets reissued a “buy” rating and set a $32.00 price target on shares of Acxiom Corporation in a research report on Sunday, July 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Acxiom Corporation has an average rating of “Hold” and a consensus target price of $32.80.
Acxiom Corporation (ACXM) traded up 0.49% during midday trading on Tuesday, hitting $24.86. The company had a trading volume of 359,615 shares. The stock has a 50 day moving average of $23.45 and a 200 day moving average of $26.03. The firm’s market cap is $1.98 billion. Acxiom Corporation has a 52-week low of $21.80 and a 52-week high of $30.40.
Acxiom Corporation (NASDAQ:ACXM) last announced its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.14 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.14. The company had revenue of $213.00 million for the quarter, compared to analyst estimates of $217.32 million. Acxiom Corporation had a negative net margin of 0.13% and a positive return on equity of 3.22%. Acxiom Corporation’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the business earned $0.15 EPS. On average, analysts anticipate that Acxiom Corporation will post $0.80 EPS for the current year.
In other Acxiom Corporation news, CFO Warren Jenson acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average price of $22.09 per share, with a total value of $220,900.00. Following the completion of the transaction, the chief financial officer now directly owns 377,415 shares of the company’s stock, valued at $8,337,097.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.54% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can boosted its position in Acxiom Corporation by 6.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,369 shares of the information technology services provider’s stock worth $1,320,000 after purchasing an additional 2,907 shares during the period. Comerica Bank increased its holdings in Acxiom Corporation by 5.3% in the 1st quarter. Comerica Bank now owns 61,524 shares of the information technology services provider’s stock valued at $1,787,000 after purchasing an additional 3,107 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in Acxiom Corporation by 48.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 41,306 shares of the information technology services provider’s stock valued at $1,176,000 after purchasing an additional 13,393 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Acxiom Corporation in the 1st quarter valued at $729,000. Finally, Ameriprise Financial Inc. increased its holdings in Acxiom Corporation by 4.4% in the 1st quarter. Ameriprise Financial Inc. now owns 211,083 shares of the information technology services provider’s stock valued at $6,010,000 after purchasing an additional 8,879 shares in the last quarter. Institutional investors and hedge funds own 94.41% of the company’s stock.
About Acxiom Corporation
Acxiom Corporation (Acxiom) is a technology and enablement services company. The Company operates through three business segments: Marketing Services, Audience Solutions, and Connectivity. The Company’s Marketing Services segment helps clients to unify data at individual level. The Audience Solutions segment helps clients to validate the accuracy of their people-based data, enhance it with additional insight and keep it up to date, enabling clients to reach desired audiences with relevant messages.
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