abrdn plc Has $25.63 Million Holdings in Perficient, Inc. (NASDAQ:PRFT)

abrdn plc cut its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 12.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 389,429 shares of the digital transformation consultancy’s stock after selling 55,749 shares during the period. abrdn plc owned 1.12% of Perficient worth $25,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Perficient by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,316,958 shares of the digital transformation consultancy’s stock valued at $249,779,000 after purchasing an additional 158,842 shares during the period. Congress Asset Management Co. MA increased its stake in shares of Perficient by 69.1% in the 3rd quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy’s stock valued at $79,766,000 after acquiring an additional 563,290 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Perficient by 12.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,161,771 shares of the digital transformation consultancy’s stock valued at $67,220,000 after acquiring an additional 130,099 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of Perficient in the 3rd quarter valued at about $32,578,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of Perficient by 56.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 466,158 shares of the digital transformation consultancy’s stock valued at $26,972,000 after acquiring an additional 167,266 shares during the last quarter. 95.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $591,955.26. Following the completion of the sale, the chief executive officer now owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the sale, the chief executive officer now owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total value of $47,223.36. Following the sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,149 shares of company stock valued at $885,619. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRFT. Scotiabank lowered their price target on Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. upped their price target on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Barrington Research reissued an “outperform” rating and set a $77.00 target price on shares of Perficient in a research note on Wednesday, February 28th. Alliance Global Partners raised Perficient from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Tuesday. Finally, Guggenheim began coverage on Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.67.

Perficient Trading Up 0.8 %

NASDAQ:PRFT opened at $45.48 on Wednesday. The company has a market cap of $1.60 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. Perficient, Inc. has a twelve month low of $43.39 and a twelve month high of $96.93. The business has a 50 day moving average price of $58.51 and a two-hundred day moving average price of $62.05.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Tuesday, February 27th. The digital transformation consultancy reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). The company had revenue of $220.79 million during the quarter, compared to analyst estimates of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. As a group, analysts expect that Perficient, Inc. will post 3.42 EPS for the current fiscal year.

Perficient Profile

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, and organizational change management; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolios.