Perficient, Inc. (PRFT) Holdings Trimmed by Legal & General Group Plc

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Legal & General Group Plc lessened its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,304 shares of the digital transformation consultancy’s stock after selling 3,066 shares during the quarter. Legal & General Group Plc’s holdings in Perficient were worth $1,669,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in Perficient by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 362,905 shares of the digital transformation consultancy’s stock valued at $8,078,000 after purchasing an additional 1,224 shares in the last quarter. KAMES CAPITAL plc grew its stake in Perficient by 24.1% during the 4th quarter. KAMES CAPITAL plc now owns 318,558 shares of the digital transformation consultancy’s stock valued at $7,088,000 after purchasing an additional 61,844 shares in the last quarter. BlackRock Inc. grew its stake in Perficient by 2.9% during the 3rd quarter. BlackRock Inc. now owns 5,072,288 shares of the digital transformation consultancy’s stock valued at $135,176,000 after purchasing an additional 144,771 shares in the last quarter. LS Investment Advisors LLC grew its stake in Perficient by 581.9% during the 4th 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 in the last quarter. Finally, Sawgrass Asset Management LLC grew its stake in Perficient by 30.9% during the 3rd quarter. Sawgrass Asset Management LLC now owns 67,685 shares of the digital transformation consultancy’s stock valued at $1,804,000 after purchasing an additional 15,995 shares in the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.

In related news, CFO Paul E. Martin sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $27.40, for a total transaction of $685,000.00. Following the completion of the transaction, the chief financial officer now owns 179,860 shares in the company, valued at approximately $4,928,164. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey S. Davis sold 42,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $28.17, for a total value of $1,183,140.00. Following the transaction, the chairman now owns 471,573 shares of the company’s stock, valued at approximately $13,284,211.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,161 shares of company stock valued at $6,206,853. Insiders own 3.50% of the company’s stock.

Several brokerages have recently commented on PRFT. Zacks Investment Research upgraded Perficient from a “hold” rating to a “buy” rating and set a $33.00 target price for the company 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. Barrington Research reiterated a “buy” rating and issued a $33.00 target price on shares of Perficient in a research report on Wednesday, February 27th. Finally, Maxim Group reiterated a “buy” rating and issued a $34.00 target price on shares of Perficient in a research report on Friday, February 15th. Eight investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $32.17.

Shares of PRFT opened at $28.24 on Friday. The company has a market capitalization of $936.86 million, a PE ratio of 23.34, a PEG ratio of 2.12 and a beta of 0.94. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.34. Perficient, Inc. has a 52 week low of $20.92 and a 52 week high of $31.09.

Perficient (NASDAQ:PRFT) last issued its earnings results on Tuesday, February 26th. The digital transformation consultancy reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. The company had revenue of $131.70 million during the quarter, compared to analyst estimates of $128.35 million. Perficient had a return on equity of 11.23% and a net margin of 4.93%. The business’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. Equities analysts expect that Perficient, Inc. will post 1.29 earnings per share for the current 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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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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