Howard Capital Management LLC Purchases 59,259 Shares of Omnicom Group Inc. $OMC

Howard Capital Management LLC increased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 250.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,884 shares of the business services provider’s stock after acquiring an additional 59,259 shares during the quarter. Howard Capital Management LLC’s holdings in Omnicom Group were worth $6,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Granite Islands Private Wealth LLC increased its position in shares of Omnicom Group by 2.6% during the third quarter. Granite Islands Private Wealth LLC now owns 19,300 shares of the business services provider’s stock worth $1,420,000 after purchasing an additional 480 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Omnicom Group by 39.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 4,530 shares of the business services provider’s stock valued at $334,000 after purchasing an additional 1,277 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Omnicom Group by 77.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 229,598 shares of the business services provider’s stock worth $16,905,000 after purchasing an additional 100,555 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Omnicom Group by 0.4% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 439,975 shares of the business services provider’s stock worth $32,395,000 after purchasing an additional 1,588 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its position in shares of Omnicom Group by 4.9% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 500,416 shares of the business services provider’s stock worth $36,846,000 after purchasing an additional 23,409 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Shares of NYSE:OMC traded down $0.14 on Friday, hitting $80.58. 2,088,856 shares of the company were exchanged, compared to its average volume of 3,106,839. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $89.57. The stock’s 50 day moving average price is $80.94 and its 200 day moving average price is $78.31. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $22.11 billion, a P/E ratio of 69.47, a price-to-earnings-growth ratio of 0.68 and a beta of 0.68.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period last year, the firm earned $2.05 earnings per share. Omnicom Group’s quarterly revenue was up 63.4% compared to the same quarter last year. Sell-side analysts predict that Omnicom Group Inc. will post 10.50 EPS for the current year.

Insider Transactions at Omnicom Group

In other Omnicom Group news, Director Linda Rice sold 1,385 shares of Omnicom Group stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the sale, the director owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. The trade was a 10.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Argus raised Omnicom Group to a “hold” rating in a report on Monday, September 14th. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Zacks Research upgraded Omnicom Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Barclays cut their price objective on shares of Omnicom Group from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Omnicom Group has an average rating of “Hold” and a consensus price target of $98.75.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management and specialty marketing services. Through its network of agencies and specialized businesses, the company helps clients develop brands, engage customers and execute integrated marketing campaigns across traditional and digital channels.

Omnicom’s services include creative advertising, strategic media planning and buying, digital marketing, data and precision marketing, public relations, healthcare communications, experiential marketing, commerce and consulting.