Huron Consulting Group (NASDAQ:HURN) Shares Gap Up Following Better-Than-Expected Earnings

Huron Consulting Group Inc. (NASDAQ:HURN)’s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $104.99, but opened at $109.76. Huron Consulting Group shares last traded at $114.00, with a volume of 10,123 shares traded.

The business services provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.10. The company had revenue of $370.00 million for the quarter, compared to analysts’ expectations of $377.63 million. Huron Consulting Group had a net margin of 5.46% and a return on equity of 20.44%. Huron Consulting Group’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 earnings per share.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HURN. Benchmark reiterated a “buy” rating and set a $140.00 price target on shares of Huron Consulting Group in a report on Wednesday, July 31st. Barrington Research restated an “outperform” rating and issued a $137.00 price target on shares of Huron Consulting Group in a report on Monday, September 9th. Finally, StockNews.com upgraded shares of Huron Consulting Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.75.

Insider Transactions at Huron Consulting Group

In related news, insider Kyle Featherstone sold 820 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $108.07, for a total value of $88,617.40. Following the completion of the sale, the insider now owns 1,565 shares in the company, valued at $169,129.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Huron Consulting Group news, insider Kyle Featherstone sold 820 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $108.07, for a total value of $88,617.40. Following the completion of the sale, the insider now directly owns 1,565 shares of the company’s stock, valued at $169,129.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hugh E. Sawyer III sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $104.09, for a total value of $312,270.00. Following the transaction, the director now directly owns 23,802 shares in the company, valued at $2,477,550.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,168 shares of company stock worth $1,170,515. 2.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huron Consulting Group

A number of large investors have recently bought and sold shares of the stock. Covestor Ltd grew its holdings in shares of Huron Consulting Group by 26,500.0% in the first quarter. Covestor Ltd now owns 266 shares of the business services provider’s stock worth $26,000 after purchasing an additional 265 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Huron Consulting Group in the 2nd quarter worth $28,000. Daiwa Securities Group Inc. increased its position in shares of Huron Consulting Group by 800.0% in the first quarter. Daiwa Securities Group Inc. now owns 1,800 shares of the business services provider’s stock valued at $174,000 after acquiring an additional 1,600 shares during the period. Dakota Wealth Management bought a new position in shares of Huron Consulting Group during the second quarter valued at about $219,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Huron Consulting Group by 39.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,555 shares of the business services provider’s stock worth $263,000 after purchasing an additional 724 shares during the period. 93.90% of the stock is owned by hedge funds and other institutional investors.

Huron Consulting Group Stock Performance

The business has a fifty day moving average of $107.07 and a 200-day moving average of $100.37. The company has a market cap of $2.09 billion, a PE ratio of 30.26 and a beta of 0.61. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.99.

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.