Credit Suisse AG Reduces Position in Navigant Consulting, Inc. (NCI)

Credit Suisse AG cut its position in shares of Navigant Consulting, Inc. (NYSE:NCI) by 45.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,345 shares of the business services provider’s stock after selling 67,644 shares during the period. Credit Suisse AG’s holdings in Navigant Consulting were worth $1,882,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in NCI. State of Alaska Department of Revenue increased its stake in shares of Navigant Consulting by 1.4% in the first quarter. State of Alaska Department of Revenue now owns 5,200 shares of the business services provider’s stock worth $118,000 after buying an additional 70 shares in the last quarter. Victory Capital Management Inc. increased its stake in Navigant Consulting by 6.6% in the first quarter. Victory Capital Management Inc. now owns 5,872 shares of the business services provider’s stock worth $134,000 after buying an additional 362 shares during the period. Mason Street Advisors LLC increased its stake in Navigant Consulting by 6.7% in the first quarter. Mason Street Advisors LLC now owns 10,968 shares of the business services provider’s stock worth $251,000 after buying an additional 684 shares during the period. Dubuque Bank & Trust Co. acquired a new stake in Navigant Consulting during the first quarter worth $274,000. Finally, TD Asset Management Inc. acquired a new stake in Navigant Consulting during the first quarter worth $306,000. Institutional investors own 93.73% of the company’s stock.

Navigant Consulting, Inc. (NYSE NCI) traded down 1.47% during mid-day trading on Thursday, hitting $15.45. 50,889 shares of the stock were exchanged. Navigant Consulting, Inc. has a 52-week low of $15.42 and a 52-week high of $27.86. The stock’s 50 day moving average is $18.92 and its 200 day moving average is $21.48. The stock has a market cap of $727.88 million, a PE ratio of 14.86 and a beta of 0.83.

Navigant Consulting (NYSE:NCI) last issued its earnings results on Monday, July 31st. The business services provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.09. The business had revenue of $235.20 million during the quarter, compared to analyst estimates of $253.66 million. Navigant Consulting had a net margin of 4.97% and a return on equity of 8.95%. Navigant Consulting’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. Analysts forecast that Navigant Consulting, Inc. will post $1.15 EPS for the current fiscal year.

Navigant Consulting announced that its Board of Directors has approved a share buyback plan on Wednesday, May 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the business services provider to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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NCI has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Navigant Consulting from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, April 18th. TheStreet downgraded shares of Navigant Consulting from a “b” rating to a “c+” rating in a report on Friday, May 12th. ValuEngine downgraded shares of Navigant Consulting from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Cowen and Company boosted their target price on shares of Navigant Consulting from $16.50 to $24.00 and gave the stock an “outperform” rating in a report on Friday, June 9th. Finally, BidaskClub downgraded shares of Navigant Consulting from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. Navigant Consulting has a consensus rating of “Hold” and a consensus price target of $24.50.

About Navigant Consulting

Navigant Consulting, Inc is a global professional services company. The Company serves clients in the healthcare, energy and financial services industries. It operates through four segments. The Healthcare segment provides consulting services and business process management services. The Energy segment provides advisory solutions in business strategy and planning, distributed energy resources and renewables, energy efficiency and demand response and grid modernization The Financial Services Advisory and Compliance segment provides strategic, operational, valuation, risk management, investigative and compliance advisory services to clients primarily in the financial services industry.

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Institutional Ownership by Quarter for Navigant Consulting (NYSE:NCI)

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