New York State Common Retirement Fund lifted its position in shares of Electronics for Imaging, Inc. (NASDAQ:EFII) by 24.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,600 shares of the technology company’s stock after purchasing an additional 12,299 shares during the quarter. New York State Common Retirement Fund owned 0.13% of Electronics for Imaging worth $2,919,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Electronics for Imaging during the second quarter worth $108,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Electronics for Imaging by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,504 shares of the technology company’s stock worth $119,000 after buying an additional 217 shares in the last quarter. TrimTabs Asset Management LLC bought a new stake in Electronics for Imaging during the second quarter worth $216,000. Envestnet Asset Management Inc. grew its holdings in Electronics for Imaging by 79.6% during the first quarter. Envestnet Asset Management Inc. now owns 4,536 shares of the technology company’s stock worth $221,000 after buying an additional 2,010 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in Electronics for Imaging by 75.2% during the second quarter. Riverhead Capital Management LLC now owns 4,730 shares of the technology company’s stock worth $224,000 after buying an additional 2,030 shares in the last quarter.
In other news, CEO Guy Gecht sold 9,000 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $42.76, for a total value of $384,840.00. Following the completion of the transaction, the chief executive officer now owns 364,885 shares in the company, valued at $15,602,482.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 40,746 shares of company stock valued at $1,850,965 in the last 90 days. Company insiders own 1.88% of the company’s stock.
Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price target on shares of Electronics for Imaging in a report on Friday, October 13th. TheStreet downgraded Electronics for Imaging from a “b-” rating to a “c” rating in a report on Friday, August 4th. ValuEngine downgraded Electronics for Imaging from a “hold” rating to a “sell” rating in a report on Friday, September 8th. William Blair reiterated an “outperform” rating on shares of Electronics for Imaging in a report on Wednesday, September 6th. Finally, Morgan Stanley upped their price target on Electronics for Imaging from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Electronics for Imaging has a consensus rating of “Buy” and a consensus target price of $51.44.
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Electronics for Imaging, Inc. (NASDAQ:EFII) opened at 42.58 on Friday. The firm has a 50-day moving average price of $41.38 and a 200-day moving average price of $44.07. The company has a market cap of $1.97 billion, a P/E ratio of 44.12 and a beta of 1.30. Electronics for Imaging, Inc. has a 52 week low of $25.54 and a 52 week high of $51.15.
Electronics for Imaging (NASDAQ:EFII) last posted its quarterly earnings results on Monday, September 11th. The technology company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.02). Electronics for Imaging had a return on equity of 5.58% and a net margin of 4.70%. The business had revenue of $247.00 million during the quarter, compared to analysts’ expectations of $247.65 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Equities research analysts anticipate that Electronics for Imaging, Inc. will post $2.44 EPS for the current fiscal year.
Electronics for Imaging announced that its Board of Directors has approved a stock buyback program on Monday, September 11th that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
About Electronics for Imaging
Electronics For Imaging, Inc is engaged in digital printing, focused on the transformation of the printing, packaging, ceramic tile decoration, and textile industries from the use of traditional analog-based printing to digital on-demand printing. It operates through three segments. The Industrial Inkjet segment consists of its VUTEk and Matan super-wide and wide format display graphics, Reggiani textile, Jetrion label and packaging and Cretaprint ceramic tile decoration and construction material industrial digital inkjet printers; ceramic, water-based, and thermoforming ink, and digital inkjet printer parts, and professional services.
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