Axciom Boosts Share Repurchase - Analyst Blog
February 06 2013 - 12:14PM
Zacks
In order to bolster investors’ confidence, Acxiom
Corporation (ACXM) recently increased the size of its
authorized repurchase program from $150 million to $200
million.
Management’s continuous effort to raise shareholders’ value via
stock buybacks is quite commendable. Since Aug 2011, Acxiom has
bought back a total of 9.9 million shares for $131 million. Going
forward, the company intends to focus more on expanding its client
base and efficiently address the needs of small and mid-tier
customers. This augurs well for the long-term growth prospects of
the company.
Depending upon the market conditions, Acxiom is authorized to
repurchase shares in open market or privately negotiated
transactions over the next 12 months. In the last reported quarter,
Acxiom repurchased 1 million shares for $18.3 million. We
believe that the company has adequate liquidity to buyback shares.
Acxiom ended Dec 31, 2012 with cash and cash equivalents of $186.2
million.
Founded in 1969, Acxiom is headquartered in Little Rock, Arkansas.
The company also has offices throughout the United States,
Europe, South America, Asia-Pacific and the Middle East. The
company provides consumer data and analytics, information
technology, data integration, and consulting solutions. The company
is likely to benefit significantly from its well-diversified
business portfolio in terms of geographies, products and
markets.
However, the company faces intense competition from industry
bigwigs, which include formidable names such as AOL
Inc (AOL) and ServiceNow Inc (NOW).
Acxiom currently has a Zacks Rank #3 (Hold). One of its
competitors, Unisys Corporation (UIS) carries a
Zacks Rank #1 (Strong Buy).
ACXIOM CORP (ACXM): Free Stock Analysis Report
AOL INC (AOL): Free Stock Analysis Report
SERVICENOW INC (NOW): Free Stock Analysis Report
UNISYS (UIS): Free Stock Analysis Report
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