Cvent Inc. (NYSE:CVT) shares dropped 2.2% on Thursday . The company traded as low as $33.25 and last traded at $33.30, with a volume of 671,311 shares traded. The stock had previously closed at $34.04.

CVT has been the subject of a number of research analyst reports. William Blair initiated coverage on shares of Cvent in a research report on Friday, April 8th. They set an “outperform” rating for the company. Stifel Nicolaus lowered shares of Cvent from a “buy” rating to a “hold” rating in a research report on Monday, April 18th. Needham & Company LLC lowered shares of Cvent from a “buy” rating to a “hold” rating in a research report on Tuesday, April 19th. JMP Securities lowered shares of Cvent from an “outperform” rating to a “market perform” rating in a research report on Monday, May 9th. Finally, Zacks Investment Research raised shares of Cvent from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.25.

The company’s market cap is $1.39 billion. The stock has a 50-day moving average of $35.32 and a 200-day moving average of $29.08.

Cvent (NYSE:CVT) last released its earnings results on Thursday, May 5th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. The business earned $52.30 million during the quarter, compared to the consensus estimate of $51.40 million. Analysts forecast that Cvent Inc. will post ($0.01) earnings per share for the current year.

A number of hedge funds and institutional investors have added to or reduced their stakes in CVT. Russell Frank Co increased its position in Cvent by 1,397.7% in the fourth quarter. Russell Frank Co now owns 87,465 shares of the company’s stock worth $3,067,000 after buying an additional 81,625 shares during the period. California State Teachers Retirement System increased its position in Cvent by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 43,358 shares of the company’s stock worth $1,514,000 after buying an additional 754 shares during the period. Turner Investments L.P. increased its position in Cvent by 100.0% in the fourth quarter. Turner Investments L.P. now owns 40,000 shares of the company’s stock worth $1,396,000 after buying an additional 20,000 shares during the period. Oxford Asset Management acquired a new position in Cvent during the fourth quarter worth $1,088,000. Finally, TD Asset Management Inc. increased its position in Cvent by 21.0% in the fourth quarter. TD Asset Management Inc. now owns 28,810 shares of the company’s stock worth $1,006,000 after buying an additional 5,000 shares during the period.

Cvent, Inc is a cloud-based enterprise event management company. The Company provides solutions for both sides of the events and meetings value chain, such as event and meeting planners, through its Event Cloud, and hoteliers and venues, through its Hospitality Cloud. The Company offers planners a platform that addresses the entire lifecycle of events and meetings, including budgeting, planning, venue sourcing, marketing, management and measurement of meetings.

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