Icon Advisers Inc. Co. Increases Stock Holdings in Perficient, Inc. (NASDAQ:PRFT)

Icon Advisers Inc. Co. boosted its position in Perficient, Inc. (NASDAQ:PRFT) by 47.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,900 shares of the digital transformation consultancy’s stock after purchasing an additional 20,000 shares during the period. Icon Advisers Inc. Co.’s holdings in Perficient were worth $2,124,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PRFT. Norges Bank purchased a new position in Perficient in the fourth quarter worth about $18,432,000. Mesirow Financial Investment Management Equity Management purchased a new position in shares of Perficient during the 2nd quarter valued at about $8,852,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Perficient during the 2nd quarter valued at about $7,732,000. KAMES CAPITAL plc lifted its position in shares of Perficient by 72.9% during the 2nd quarter. KAMES CAPITAL plc now owns 487,844 shares of the digital transformation consultancy’s stock valued at $16,728,000 after buying an additional 205,642 shares in the last quarter. Finally, SG Capital Management LLC purchased a new position in shares of Perficient during the 2nd quarter valued at about $5,458,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of PRFT stock traded up $1.02 during trading hours on Friday, reaching $35.25. 278,300 shares of the company traded hands, compared to its average volume of 330,057. Perficient, Inc. has a 12-month low of $20.92 and a 12-month high of $38.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.30 and a quick ratio of 2.30. The company has a market cap of $1.11 billion, a P/E ratio of 29.13, a P/E/G ratio of 2.00 and a beta of 0.87. The firm has a 50-day moving average price of $35.08 and a 200 day moving average price of $30.75.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Thursday, August 1st. The digital transformation consultancy reported $0.38 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.38. Perficient had a return on equity of 12.31% and a net margin of 5.52%. The firm had revenue of $141.90 million for the quarter, compared to analysts’ expectations of $137.05 million. During the same period in the previous year, the firm earned $0.38 EPS. The business’s quarterly revenue was up 16.5% on a year-over-year basis. Sell-side analysts predict that Perficient, Inc. will post 1.58 EPS for the current year.

In related news, Chairman Jeffrey S. Davis sold 25,302 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $36.42, for a total value of $921,498.84. Following the transaction, the chairman now directly owns 429,691 shares of the company’s stock, valued at approximately $15,649,346.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Kackley sold 7,928 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $35.55, for a total value of $281,840.40. Following the completion of the transaction, the director now directly owns 33,708 shares in the company, valued at $1,198,319.40. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

PRFT has been the topic of a number of analyst reports. Barrington Research lifted their price objective on Perficient from $37.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. BidaskClub raised Perficient from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th. Zacks Investment Research raised Perficient from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research report on Tuesday, August 6th. Maxim Group reaffirmed a “buy” rating and set a $41.00 price objective on shares of Perficient in a research report on Wednesday, July 24th. Finally, Nomura initiated coverage on Perficient in a research report on Friday, June 21st. They set a “buy” rating and a $40.00 price objective on the stock. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $38.33.

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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