Public Employees Retirement System of Ohio Purchases Shares of 361,618 New Oriental Education & Technology Group Inc. (NYSE:EDU)

Public Employees Retirement System of Ohio purchased a new position in shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 361,618 shares of the company’s stock, valued at approximately $27,425,000. Public Employees Retirement System of Ohio owned about 0.21% of New Oriental Education & Technology Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EDU. Farallon Capital Management LLC increased its holdings in New Oriental Education & Technology Group by 139.0% during the second quarter. Farallon Capital Management LLC now owns 1,469,590 shares of the company’s stock worth $114,231,000 after buying an additional 854,590 shares during the last quarter. Fiera Capital Corp increased its stake in shares of New Oriental Education & Technology Group by 19.8% during the 3rd quarter. Fiera Capital Corp now owns 51,371 shares of the company’s stock worth $3,896,000 after purchasing an additional 8,499 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of New Oriental Education & Technology Group by 3.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 592,564 shares of the company’s stock valued at $44,940,000 after purchasing an additional 19,401 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of New Oriental Education & Technology Group by 12.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 99,858 shares of the company’s stock valued at $7,573,000 after purchasing an additional 11,423 shares during the period. Finally, Monolith Management Ltd acquired a new stake in New Oriental Education & Technology Group in the 3rd quarter valued at about $15,168,000.

Analysts Set New Price Targets

Several analysts have issued reports on EDU shares. StockNews.com upgraded New Oriental Education & Technology Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Morgan Stanley set a $83.00 price objective on shares of New Oriental Education & Technology Group in a research report on Thursday, October 17th.

New Oriental Education & Technology Group Stock Up 9.6 %

Shares of NYSE:EDU opened at $68.23 on Tuesday. The stock has a market cap of $11.58 billion, a PE ratio of 29.16 and a beta of 0.46. New Oriental Education & Technology Group Inc. has a 12-month low of $54.00 and a 12-month high of $98.20. The business has a 50 day moving average of $64.62 and a 200-day moving average of $68.76.

New Oriental Education & Technology Group (NYSE:EDU) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.27. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. New Oriental Education & Technology Group had a return on equity of 9.43% and a net margin of 8.38%. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. Equities research analysts expect that New Oriental Education & Technology Group Inc. will post 2.94 earnings per share for the current year.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group Inc provides private educational services under the New Oriental brand in the People’s Republic of China. The company operates through four segments: Educational Services and Test Preparation Courses; Online Education and Other Services; Overseas Study Consulting Services; and Educational Materials and Distribution.