Comerica Bank lessened its holdings in shares of Acxiom Co. (NASDAQ:ACXM) by 7.3% during the second quarter, Holdings Channel reports. The institutional investor owned 64,519 shares of the information technology services provider’s stock after selling 5,060 shares during the quarter. Comerica Bank’s holdings in Acxiom were worth $2,840,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc increased its position in Acxiom by 17.5% during the first quarter. Legal & General Group Plc now owns 80,394 shares of the information technology services provider’s stock worth $1,826,000 after buying an additional 11,959 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Acxiom during the first quarter worth approximately $1,601,000. Vista Equity Partners Management LLC acquired a new position in Acxiom during the first quarter worth approximately $12,212,000. Stephens Inc. AR acquired a new position in Acxiom during the first quarter worth approximately $218,000. Finally, Trigran Investments Inc. increased its position in Acxiom by 622.5% during the first quarter. Trigran Investments Inc. now owns 232,055 shares of the information technology services provider’s stock worth $5,270,000 after buying an additional 199,937 shares during the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.
Acxiom stock opened at $44.56 on Tuesday. Acxiom Co. has a 12 month low of $18.60 and a 12 month high of $45.72. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.92 and a current ratio of 1.92. The company has a market capitalization of $3.42 billion, a PE ratio of 101.45, a PEG ratio of 24.54 and a beta of 1.38.
Acxiom (NASDAQ:ACXM) last posted its earnings results on Thursday, August 9th. The information technology services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. Acxiom had a return on equity of 3.93% and a net margin of 2.34%. The company had revenue of $227.00 million for the quarter, compared to the consensus estimate of $220.26 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. analysts anticipate that Acxiom Co. will post 0.18 EPS for the current year.
In other news, CFO Warren Jenson sold 72,783 shares of Acxiom stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $43.10, for a total value of $3,136,947.30. Following the transaction, the chief financial officer now owns 234,612 shares of the company’s stock, valued at approximately $10,111,777.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James F. Arra sold 5,000 shares of Acxiom stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $43.52, for a total transaction of $217,600.00. Following the completion of the transaction, the insider now directly owns 210,970 shares in the company, valued at approximately $9,181,414.40. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on ACXM shares. BMO Capital Markets reissued a “buy” rating and set a $46.00 price target on shares of Acxiom in a research report on Friday, July 13th. Wells Fargo & Co reissued a “buy” rating and set a $41.00 price target on shares of Acxiom in a research report on Tuesday, July 3rd. Zacks Investment Research raised Acxiom from a “sell” rating to a “hold” rating in a research report on Tuesday, May 1st. Stephens reissued a “buy” rating and set a $47.00 price target on shares of Acxiom in a research report on Sunday, August 12th. Finally, BidaskClub raised Acxiom from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 14th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Acxiom currently has an average rating of “Buy” and a consensus price target of $42.00.
Acxiom Company Profile
Acxiom Corporation operates a technology and enablement services company in the United States, Europe, the Asia-Pacific, and internationally. The company operates through three segments: Connectivity, Audience Solutions, and Marketing Services. The Connectivity segment provides a foundational identity resolution layer, which enables its clients to identify and reach consumers across channels and measure the impact of marketing on sales.
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