Summit Creek Advisors LLC Buys 356,672 Shares of NV5 Global, Inc. (NASDAQ:NVEE)

Summit Creek Advisors LLC grew its stake in NV5 Global, Inc. (NASDAQ:NVEE) by 301.3% in the fourth quarter, HoldingsChannel reports. The fund owned 475,060 shares of the business services provider’s stock after acquiring an additional 356,672 shares during the period. Summit Creek Advisors LLC’s holdings in NV5 Global were worth $8,950,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of NV5 Global by 288.4% during the fourth quarter. Vanguard Group Inc. now owns 3,761,947 shares of the business services provider’s stock worth $70,875,000 after buying an additional 2,793,280 shares during the last quarter. American Century Companies Inc. boosted its stake in NV5 Global by 322.4% in the fourth quarter. American Century Companies Inc. now owns 2,147,358 shares of the business services provider’s stock valued at $40,456,000 after acquiring an additional 1,639,014 shares during the last quarter. Swedbank AB boosted its stake in NV5 Global by 366.4% in the fourth quarter. Swedbank AB now owns 1,632,296 shares of the business services provider’s stock valued at $30,752,000 after acquiring an additional 1,282,296 shares during the last quarter. Geneva Capital Management LLC boosted its stake in NV5 Global by 274.0% in the fourth quarter. Geneva Capital Management LLC now owns 1,618,475 shares of the business services provider’s stock valued at $30,492,000 after acquiring an additional 1,185,754 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in NV5 Global by 1,572.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,510,725 shares of the business services provider’s stock valued at $28,462,000 after acquiring an additional 1,420,417 shares during the last quarter. 75.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVEE has been the topic of a number of recent research reports. Roth Mkm raised their price objective on shares of NV5 Global from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, February 21st. StockNews.com cut shares of NV5 Global from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Maxim Group reduced their price objective on shares of NV5 Global from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, February 21st.

NV5 Global Stock Down 0.9 %

Shares of NVEE stock opened at $18.70 on Monday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30. NV5 Global, Inc. has a 1 year low of $16.77 and a 1 year high of $26.14. The firm’s fifty day moving average price is $18.13 and its two-hundred day moving average price is $20.50. The firm has a market capitalization of $1.22 billion, a P/E ratio of 37.97, a PEG ratio of 2.63 and a beta of 1.22.

NV5 Global (NASDAQ:NVEE) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). NV5 Global had a net margin of 3.25% and a return on equity of 9.34%. The business had revenue of $246.52 million during the quarter, compared to analyst estimates of $243.46 million. On average, equities analysts predict that NV5 Global, Inc. will post 1.26 EPS for the current fiscal year.

NV5 Global declared that its board has authorized a stock repurchase program on Monday, January 6th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About NV5 Global

NV5 Global, Inc provides technology, conformity assessment, consulting solutions, and software applications to public and private sector clients in the infrastructure, utility services, construction, real estate, environmental, and geospatial markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.