Bank of New York Mellon Corp Sells 2,884 Shares of Huron Consulting Group Inc. (NASDAQ:HURN)

Bank of New York Mellon Corp cut its stake in Huron Consulting Group Inc. (NASDAQ:HURN) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,686 shares of the business services provider’s stock after selling 2,884 shares during the period. Bank of New York Mellon Corp owned approximately 0.35% of Huron Consulting Group worth $8,992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HURN. Wellington Management Group LLP grew its position in shares of Huron Consulting Group by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 543,236 shares of the business services provider’s stock worth $67,503,000 after buying an additional 4,946 shares during the period. Sunriver Management LLC lifted its position in shares of Huron Consulting Group by 10.7% in the fourth quarter. Sunriver Management LLC now owns 486,597 shares of the business services provider’s stock worth $60,465,000 after purchasing an additional 46,968 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Huron Consulting Group by 16.4% in the fourth quarter. Franklin Resources Inc. now owns 460,650 shares of the business services provider’s stock worth $57,240,000 after purchasing an additional 64,862 shares in the last quarter. Northern Trust Corp lifted its position in shares of Huron Consulting Group by 10.0% in the fourth quarter. Northern Trust Corp now owns 256,895 shares of the business services provider’s stock worth $31,922,000 after purchasing an additional 23,392 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC lifted its position in shares of Huron Consulting Group by 1.3% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 242,558 shares of the business services provider’s stock worth $30,140,000 after purchasing an additional 3,068 shares in the last quarter. 93.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director John Mccartney sold 500 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $136.74, for a total transaction of $68,370.00. Following the completion of the transaction, the director owned 51,817 shares in the company, valued at $7,085,456.58. The trade was a 0.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director H Eugene Lockhart sold 1,040 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $136.74, for a total value of $142,209.60. Following the completion of the sale, the director owned 8,162 shares of the company’s stock, valued at $1,116,071.88. This represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,708 shares of company stock valued at $377,421 in the last quarter. 2.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. William Blair reissued an “outperform” rating on shares of Huron Consulting Group in a report on Wednesday, March 26th. Benchmark reissued a “buy” rating and set a $165.00 target price on shares of Huron Consulting Group in a research report on Wednesday, March 26th. Wedbush increased their target price on Huron Consulting Group from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, March 26th. Barrington Research increased their target price on Huron Consulting Group from $167.00 to $173.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Finally, Wall Street Zen cut Huron Consulting Group from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Huron Consulting Group currently has an average rating of “Moderate Buy” and a consensus price target of $170.75.

Huron Consulting Group Stock Performance

NASDAQ:HURN opened at $130.22 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.08 and a quick ratio of 2.08. Huron Consulting Group Inc. has a 1-year low of $101.73 and a 1-year high of $155.00. The business has a 50 day moving average of $140.28 and a 200 day moving average of $138.03. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 18.77 and a beta of 0.28.

Huron Consulting Group (NASDAQ:HURN) last released its earnings results on Tuesday, April 29th. The business services provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.52. The firm had revenue of $404.14 million for the quarter, compared to analysts’ expectations of $389.27 million. Huron Consulting Group had a return on equity of 24.68% and a net margin of 7.88%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 earnings per share. On average, sell-side analysts predict that Huron Consulting Group Inc. will post 6.1 earnings per share for the current fiscal year.

About Huron Consulting Group

Huron Consulting Group Inc, a professional services firm, provides consultancy services in the United States and internationally. It operates through three segments: Healthcare, Education, and Commercial. The Healthcare segment provides financial and operational performance improvement consulting services; digital offerings, spanning technology and analytic-related services; software products; organizational transformation services; revenue cycle managed and outsourcing services; financial and capital advisory consulting services; and strategy and innovation consulting services to national and regional health systems, academic and community health systems, federal health system, public, children’s and critical access hospitals, physician practices and medical groups, payors, and long-term care or post-acute providers.