Comerica Bank Has $1.85 Million Holdings in Perficient, Inc. (PRFT)

Comerica Bank decreased its position in Perficient, Inc. (NASDAQ:PRFT) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,548 shares of the information technology services provider’s stock after selling 6,609 shares during the period. Comerica Bank owned 0.28% of Perficient worth $1,849,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in Perficient by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,920,360 shares of the information technology services provider’s stock valued at $33,337,000 after buying an additional 109,121 shares during the last quarter. Vanguard Group Inc. increased its stake in Perficient by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 1,859,259 shares of the information technology services provider’s stock valued at $32,276,000 after buying an additional 119,160 shares during the last quarter. Wellington Management Group LLP increased its stake in Perficient by 16.2% in the 1st quarter. Wellington Management Group LLP now owns 1,815,360 shares of the information technology services provider’s stock valued at $31,514,000 after buying an additional 253,499 shares during the last quarter. State Street Corp increased its stake in Perficient by 2.6% in the 1st quarter. State Street Corp now owns 912,014 shares of the information technology services provider’s stock valued at $15,834,000 after buying an additional 23,382 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Perficient by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 482,752 shares of the information technology services provider’s stock valued at $8,998,000 after buying an additional 2,621 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

In other news, Director Ralph C. Derrickson sold 7,900 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $17.64, for a total transaction of $139,356.00. Following the completion of the transaction, the director now directly owns 32,747 shares of the company’s stock, valued at $577,657.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.

Shares of Perficient, Inc. (PRFT) opened at 18.15 on Monday. Perficient, Inc. has a 52 week low of $14.15 and a 52 week high of $20.33. The stock has a market cap of $637.37 million, a price-to-earnings ratio of 44.05 and a beta of 0.91. The stock’s 50 day moving average is $17.99 and its 200 day moving average is $17.67.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. Perficient had a net margin of 3.08% and a return on equity of 7.42%. The firm had revenue of $117 million during the quarter, compared to analysts’ expectations of $119.21 million. During the same period in the previous year, the company earned $0.28 earnings per share. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. On average, equities analysts forecast that Perficient, Inc. will post $1.23 EPS for the current year.

Several equities research analysts have commented on PRFT shares. Zacks Investment Research upgraded shares of Perficient from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Saturday, June 24th. Maxim Group set a $20.00 price objective on shares of Perficient and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, BidaskClub lowered shares of Perficient from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $20.33.

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About Perficient

Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.

Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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