Norges Bank purchased a new position in Navigant Consulting, Inc. (NYSE:NCI) in the fourth quarter, Holdings Channel reports. The fund purchased 1,025,170 shares of the business services provider’s stock, valued at approximately $24,655,000.
A number of other institutional investors have also recently modified their holdings of NCI. FMR LLC boosted its position in shares of Navigant Consulting by 55,419.2% in the 4th quarter. FMR LLC now owns 344,219 shares of the business services provider’s stock worth $8,279,000 after buying an additional 343,599 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of Navigant Consulting in the 4th quarter worth about $959,000. Macquarie Group Ltd. boosted its position in shares of Navigant Consulting by 17.7% in the 4th quarter. Macquarie Group Ltd. now owns 1,754,881 shares of the business services provider’s stock worth $42,205,000 after buying an additional 263,495 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Navigant Consulting in the 4th quarter worth about $393,000. Finally, Gotham Asset Management LLC boosted its position in shares of Navigant Consulting by 71.3% in the 4th quarter. Gotham Asset Management LLC now owns 113,673 shares of the business services provider’s stock worth $2,734,000 after buying an additional 47,305 shares in the last quarter. Institutional investors own 97.77% of the company’s stock.
Several equities research analysts recently commented on NCI shares. Barrington Research reiterated a “buy” rating and issued a $28.00 price objective on shares of Navigant Consulting in a research report on Thursday. TheStreet lowered shares of Navigant Consulting from a “b-” rating to a “c” rating in a research report on Friday, March 15th. Finally, Zacks Investment Research lowered shares of Navigant Consulting from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Navigant Consulting presently has an average rating of “Buy” and a consensus target price of $27.00.
Navigant Consulting stock opened at $20.53 on Friday. Navigant Consulting, Inc. has a 52 week low of $18.85 and a 52 week high of $27.40. The stock has a market capitalization of $801.90 million, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 1.72 and a beta of 0.68.
Navigant Consulting (NYSE:NCI) last released its quarterly earnings data on Tuesday, February 26th. The business services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). Navigant Consulting had a return on equity of 6.59% and a net margin of 13.10%. The business had revenue of $193.20 million during the quarter, compared to analysts’ expectations of $173.33 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Navigant Consulting’s quarterly revenue was down 24.4% on a year-over-year basis. As a group, analysts anticipate that Navigant Consulting, Inc. will post 0.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, May 30th. Navigant Consulting’s payout ratio is 42.55%.
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About Navigant Consulting
Navigant Consulting, Inc provides professional services worldwide. It operates through three segments: Healthcare, Energy, and Financial Services Advisory and Compliance. The Healthcare segment offers consulting and business process management services to healthcare providers, payers, and life sciences companies.
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