Legal & General Group Plc increased its stake in shares of The Advisory Board Company (NASDAQ:ABCO) by 16.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,605 shares of the business services provider’s stock after purchasing an additional 2,503 shares during the period. Legal & General Group Plc’s holdings in The Advisory Board were worth $945,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of The Advisory Board by 4.5% during the second quarter. Vanguard Group Inc. now owns 3,286,571 shares of the business services provider’s stock worth $169,259,000 after purchasing an additional 140,247 shares during the period. Janus Henderson Group PLC bought a new position in The Advisory Board during the second quarter worth about $139,617,000. State Street Corp lifted its holdings in The Advisory Board by 6.5% during the second quarter. State Street Corp now owns 831,642 shares of the business services provider’s stock worth $42,829,000 after acquiring an additional 50,912 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in The Advisory Board by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 806,298 shares of the business services provider’s stock worth $41,524,000 after acquiring an additional 95,916 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in The Advisory Board by 1.8% during the second quarter. Northern Trust Corp now owns 576,592 shares of the business services provider’s stock worth $29,694,000 after acquiring an additional 10,300 shares in the last quarter. 95.50% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. Wells Fargo & Co lowered The Advisory Board from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $57.00 to $54.00 in a report on Monday, October 2nd. Cantor Fitzgerald reiterated a “hold” rating on shares of The Advisory Board in a report on Friday, November 17th. Finally, Robert W. Baird reiterated a “hold” rating and set a $54.00 target price on shares of The Advisory Board in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The Advisory Board presently has an average rating of “Hold” and an average target price of $51.95.
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The Advisory Board Profile
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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