Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Position in Omnicom Group Inc. (NYSE:OMC)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Omnicom Group Inc. (NYSE:OMC) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 349,074 shares of the business services provider’s stock after selling 5,958 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.18% of Omnicom Group worth $36,091,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Omnicom Group in the 2nd quarter worth about $33,000. Innealta Capital LLC purchased a new position in shares of Omnicom Group during the second quarter worth approximately $33,000. Northwest Investment Counselors LLC bought a new stake in shares of Omnicom Group during the third quarter valued at approximately $33,000. Davis Capital Management purchased a new stake in shares of Omnicom Group in the third quarter valued at approximately $36,000. Finally, HM Payson & Co. grew its stake in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after purchasing an additional 169 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. UBS Group increased their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Macquarie boosted their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America increased their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Insider Buying and Selling

In related news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the transaction, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Stock Performance

Shares of OMC opened at $104.35 on Friday. The stock has a fifty day moving average price of $102.42 and a 200-day moving average price of $97.01. The firm has a market cap of $20.36 billion, a PE ratio of 14.26, a P/E/G ratio of 2.35 and a beta of 0.95. Omnicom Group Inc. has a 12 month low of $78.90 and a 12 month high of $107.00. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the firm earned $1.86 EPS. Equities research analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Omnicom Group 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.