Piedmont Investment Advisors LLC Takes Position in Electronics for Imaging, Inc. (EFII)
Piedmont Investment Advisors LLC acquired a new stake in Electronics for Imaging, Inc. (NASDAQ:EFII) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,047 shares of the technology company’s stock, valued at approximately $476,000.
Other large investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Electronics for Imaging in the second quarter valued at $108,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Electronics for Imaging by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,504 shares of the technology company’s stock valued at $119,000 after acquiring an additional 217 shares during the last quarter. TrimTabs Asset Management LLC acquired a new position in Electronics for Imaging in the second quarter valued at $216,000. Shelton Capital Management acquired a new position in Electronics for Imaging in the second quarter valued at $219,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Electronics for Imaging by 79.6% in the first quarter. Envestnet Asset Management Inc. now owns 4,536 shares of the technology company’s stock valued at $221,000 after acquiring an additional 2,010 shares during the last quarter.
In other Electronics for Imaging news, CEO Guy Gecht sold 9,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $48.25, for a total transaction of $434,250.00. Following the completion of the sale, the chief executive officer now directly owns 386,760 shares in the company, valued at $18,661,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 40,746 shares of company stock valued at $1,850,965 over the last 90 days. Corporate insiders own 1.88% of the company’s stock.
A number of research analysts recently weighed in on EFII shares. Barclays PLC reiterated a “buy” rating and issued a $47.00 target price on shares of Electronics for Imaging in a report on Thursday, September 14th. ValuEngine cut Electronics for Imaging from a “hold” rating to a “sell” rating in a report on Friday, September 8th. TheStreet cut Electronics for Imaging from a “b-” rating to a “c” rating in a report on Friday, August 4th. Morgan Stanley lifted their target price on Electronics for Imaging from $29.00 to $33.00 and gave the company an “underweight” rating in a report on Friday, September 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price (up previously from $45.00) on shares of Electronics for Imaging in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Electronics for Imaging has an average rating of “Buy” and an average target price of $51.44.
Electronics for Imaging, Inc. (NASDAQ:EFII) opened at 42.77 on Friday. The firm’s 50 day moving average price is $41.18 and its 200-day moving average price is $44.11. Electronics for Imaging, Inc. has a 52 week low of $25.54 and a 52 week high of $51.15. The firm has a market cap of $1.98 billion, a PE ratio of 44.32 and a beta of 1.30.
Electronics for Imaging (NASDAQ:EFII) last issued its quarterly earnings data on Monday, September 11th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.02). The business had revenue of $247.00 million during the quarter, compared to the consensus estimate of $247.65 million. Electronics for Imaging had a return on equity of 5.58% and a net margin of 4.70%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 earnings per share. On average, analysts forecast that Electronics for Imaging, Inc. will post $2.44 EPS for the current year.
Electronics for Imaging announced that its board has initiated a share buyback plan on Monday, September 11th that permits the company to buyback $125.00 million in shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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Electronics for Imaging Profile
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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