Acxiom Corporation (ACXM) Receives “Buy” Rating from Cantor Fitzgerald
Acxiom Corporation (NASDAQ:ACXM)‘s stock had its “buy” rating reiterated by equities research analysts at Cantor Fitzgerald in a report issued on Friday. They currently have a $33.00 target price on the information technology services provider’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 38.31% from the company’s previous close.
The analysts wrote, “Third-largest ID graph in people-based marketing; deterministic recognition. The LiveRamp/Connectivity business aims to be the power grid for data connectivity in the marketing ecosystem (both on and offline) and a go-to source for deterministic recognition (down to the unique ID/person who uses x devices determined by authentication/log-in information).””
A number of other research firms have also commented on ACXM. Dougherty & Co reiterated a “buy” rating on shares of Acxiom Corporation in a research note on Thursday, August 17th. Zacks Investment Research upgraded shares of Acxiom Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 29th. BidaskClub lowered shares of Acxiom Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $32.00 price target on shares of Acxiom Corporation in a research note on Sunday, July 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $32.80.
Shares of Acxiom Corporation (NASDAQ:ACXM) opened at 23.93 on Friday. The stock’s market cap is $1.90 billion. The firm has a 50-day moving average price of $23.51 and a 200 day moving average price of $26.27. Acxiom Corporation has a 12-month low of $21.80 and a 12-month 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 analysts’ consensus estimates of $0.14. Acxiom Corporation had a negative net margin of 0.13% and a positive return on equity of 3.22%. The firm had revenue of $213.00 million during the quarter, compared to analysts’ expectations of $217.32 million. During the same period in the previous year, the company earned $0.15 earnings per share. Acxiom Corporation’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts expect that Acxiom Corporation will post $0.80 earnings per share for the current year.
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In other Acxiom Corporation news, CFO Warren Jenson purchased 10,000 shares of Acxiom Corporation stock in a transaction on Tuesday, August 22nd. The shares were bought at an average price of $22.09 per share, with a total value of $220,900.00. Following the completion of the acquisition, 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 document filed with the SEC, which is available through this link. 3.54% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. OppenheimerFunds Inc. purchased a new position in shares of Acxiom Corporation during the first quarter valued at approximately $260,000. Renaissance Technologies LLC lifted its stake in shares of Acxiom Corporation by 19.4% during the first quarter. Renaissance Technologies LLC now owns 140,245 shares of the information technology services provider’s stock valued at $3,993,000 after buying an additional 22,745 shares during the period. BlackRock Inc. lifted its stake in shares of Acxiom Corporation by 19,342.4% during the first quarter. BlackRock Inc. now owns 8,062,375 shares of the information technology services provider’s stock valued at $229,535,000 after buying an additional 8,020,907 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Acxiom Corporation by 414.3% during the second quarter. BNP Paribas Arbitrage SA now owns 88,497 shares of the information technology services provider’s stock valued at $2,299,000 after buying an additional 71,291 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of Acxiom Corporation by 0.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 124,371 shares of the information technology services provider’s stock valued at $3,541,000 after buying an additional 353 shares during the period. 94.61% of the stock is currently owned by institutional investors.
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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