Praxis Investment Management Inc. Purchases 7,420 Shares of Omnicom Group Inc. $OMC

Key Points

• Praxis Investment Management Inc. increased its stake in Omnicom Group Inc. by 113.1%, acquiring 7,420 shares to hold a total of 13,979 shares now valued at approximately $1,006,000.
• Analysts have set varied price targets for Omnicom Group, with Bank of America raising it to $80.00 and Wells Fargo boosting it to $91.00, while the consensus rating remains a "Moderate Buy" with an average target price of $96.29.
• Omnicom reported a quarterly EPS of $2.05, exceeding expectations and reflecting a revenue growth of 4.2% year-over-year, with total revenue of $4.02 billion.

Praxis Investment Management Inc. boosted its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 113.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,979 shares of the business services provider's stock after acquiring an additional 7,420 shares during the quarter. Praxis Investment Management Inc.'s holdings in Omnicom Group were worth $1,006,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. J2 Capital Management Inc bought a new position in Omnicom Group in the second quarter valued at $383,000. Golden State Wealth Management LLC lifted its stake in Omnicom Group by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock worth $41,000 after purchasing an additional 343 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Omnicom Group by 42.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,965,974 shares of the business services provider's stock worth $245,909,000 after purchasing an additional 887,415 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Omnicom Group in the first quarter worth $1,357,000. Finally, Exchange Traded Concepts LLC lifted its stake in Omnicom Group by 34.8% in the second quarter. Exchange Traded Concepts LLC now owns 13,300 shares of the business services provider's stock worth $957,000 after purchasing an additional 3,433 shares during the last quarter. Institutional investors own 91.97% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on OMC. Bank of America raised shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research note on Monday, June 23rd. Wells Fargo & Company raised shares of Omnicom Group from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Omnicom Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Finally, Barclays downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Omnicom Group has a consensus rating of "Moderate Buy" and an average target price of $96.29.

Omnicom Group Stock Performance

Shares of NYSE:OMC opened at $77.48 on Friday. The company has a market cap of $15.01 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.51 and a beta of 0.96. The company has a 50-day moving average price of $77.40 and a 200-day moving average price of $74.92. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating the consensus estimate of $2.02 by $0.03. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. Omnicom Group had a net margin of 8.67% and a return on equity of 33.62%. The company's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.95 earnings per share. As a group, equities analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.

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