Federated Investors Inc. PA reduced its position in Perficient, Inc. (NASDAQ:PRFT) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 326,944 shares of the digital transformation consultancy’s stock after selling 3,488 shares during the period. Federated Investors Inc. PA’s holdings in Perficient were worth $8,955,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in shares of Perficient by 51.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,238 shares of the digital transformation consultancy’s stock worth $28,000 after buying an additional 421 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Perficient during the first quarter valued at approximately $40,000. Investors Research Corp purchased a new stake in Perficient during the first quarter valued at approximately $101,000. BNP Paribas Arbitrage SA raised its position in Perficient by 364.5% during the first quarter. BNP Paribas Arbitrage SA now owns 6,731 shares of the digital transformation consultancy’s stock valued at $184,000 after purchasing an additional 5,282 shares during the period. Finally, LS Investment Advisors LLC raised its position in Perficient by 581.9% during the fourth quarter. LS Investment Advisors LLC now owns 7,099 shares of the digital transformation consultancy’s stock valued at $158,000 after purchasing an additional 6,058 shares during the period. Institutional investors own 88.32% of the company’s stock.
A number of equities research analysts have issued reports on PRFT shares. Maxim Group set a $41.00 price objective on Perficient and gave the company a “buy” rating in a research report on Friday, May 31st. Zacks Investment Research upgraded Perficient from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, March 5th. BidaskClub upgraded Perficient from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. Finally, Barrington Research restated a “buy” rating and set a $33.00 price objective on shares of Perficient in a research report on Wednesday, February 27th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Perficient has a consensus rating of “Buy” and a consensus price target of $33.67.
In other news, CFO Paul E. Martin sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $30.88, for a total transaction of $772,000.00. Following the transaction, the chief financial officer now owns 172,674 shares of the company’s stock, valued at $5,332,173.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey S. Davis sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $29.62, for a total value of $26,658.00. Following the transaction, the chief executive officer now directly owns 532,389 shares in the company, valued at approximately $15,769,362.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,196 shares of company stock worth $3,181,205. Company insiders own 2.90% of the company’s stock.
Shares of PRFT stock opened at $31.58 on Thursday. Perficient, Inc. has a 1 year low of $20.92 and a 1 year high of $32.92. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 2.03 and a beta of 0.86.
Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Thursday, May 2nd. The digital transformation consultancy reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. Perficient had a return on equity of 11.50% and a net margin of 5.21%. The business had revenue of $133.82 million for the quarter, compared to the consensus estimate of $131.10 million. During the same period in the prior year, the business posted $0.35 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that Perficient, Inc. will post 1.45 earnings per share for the current fiscal year.
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Perficient Company Profile
Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, commerce, content management, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.
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