Congress Asset Management Co. Sells 188,092 Shares of FTI Consulting, Inc. (NYSE:FCN)

Congress Asset Management Co. cut its position in shares of FTI Consulting, Inc. (NYSE:FCN - Free Report) by 91.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,296 shares of the business services provider's stock after selling 188,092 shares during the quarter. Congress Asset Management Co.'s holdings in FTI Consulting were worth $2,838,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of FTI Consulting by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 438,808 shares of the business services provider's stock worth $83,869,000 after purchasing an additional 8,032 shares during the period. Isthmus Partners LLC purchased a new stake in FTI Consulting during the fourth quarter worth about $447,000. Ieq Capital LLC raised its position in FTI Consulting by 214.4% in the fourth quarter. Ieq Capital LLC now owns 6,074 shares of the business services provider's stock worth $1,161,000 after acquiring an additional 4,142 shares during the period. California Public Employees Retirement System boosted its stake in FTI Consulting by 3.4% in the fourth quarter. California Public Employees Retirement System now owns 146,858 shares of the business services provider's stock valued at $28,069,000 after acquiring an additional 4,853 shares during the last quarter. Finally, Versor Investments LP purchased a new position in FTI Consulting in the fourth quarter valued at about $688,000. 99.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FCN. Truist Financial downgraded FTI Consulting from a "buy" rating to a "hold" rating and dropped their price objective for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. William Blair reaffirmed an "outperform" rating on shares of FTI Consulting in a research report on Friday, April 25th. The Goldman Sachs Group decreased their price objective on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Finally, Wall Street Zen cut FTI Consulting from a "buy" rating to a "hold" rating in a research note on Thursday, April 3rd.

Insider Activity at FTI Consulting

In other news, CFO Ajay Sabherwal sold 5,236 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $164.60, for a total value of $861,845.60. Following the completion of the sale, the chief financial officer now owns 24,777 shares of the company's stock, valued at approximately $4,078,294.20. This represents a 17.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.51% of the stock is currently owned by insiders.

FTI Consulting Stock Performance

FTI Consulting stock traded up $2.52 during mid-day trading on Thursday, reaching $162.34. The company's stock had a trading volume of 344,354 shares, compared to its average volume of 264,782. The company has a market capitalization of $5.57 billion, a P/E ratio of 20.81 and a beta of 0.19. The firm's fifty day moving average price is $163.83 and its two-hundred day moving average price is $177.49. FTI Consulting, Inc. has a 12-month low of $151.75 and a 12-month high of $243.60.

FTI Consulting (NYSE:FCN - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.50. The company had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. FTI Consulting's revenue was down 3.3% compared to the same quarter last year. During the same period last year, the business earned $2.23 earnings per share. On average, research analysts predict that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting announced that its board has authorized a share repurchase plan on Thursday, April 24th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the business services provider to buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

FTI Consulting Company Profile

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.