Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Perficient, Inc. (NASDAQ:PRFT)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Perficient, Inc. (NASDAQ:PRFT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 97,700 shares of the digital transformation consultancy’s stock, valued at approximately $4,655,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.30% of Perficient as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the business. Morgan Stanley raised its position in shares of Perficient by 84.9% during the fourth quarter. Morgan Stanley now owns 314,632 shares of the digital transformation consultancy’s stock worth $14,992,000 after purchasing an additional 144,477 shares during the period. Emerald Advisers LLC raised its position in shares of Perficient by 37.0% during the fourth quarter. Emerald Advisers LLC now owns 450,197 shares of the digital transformation consultancy’s stock worth $21,452,000 after purchasing an additional 121,646 shares during the period. Emerald Mutual Fund Advisers Trust raised its position in shares of Perficient by 37.9% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 421,155 shares of the digital transformation consultancy’s stock worth $20,068,000 after purchasing an additional 115,719 shares during the period. Frontier Capital Management Co. LLC raised its position in shares of Perficient by 12.4% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,044,166 shares of the digital transformation consultancy’s stock worth $49,755,000 after purchasing an additional 115,330 shares during the period. Finally, BlackRock Inc. raised its position in shares of Perficient by 2.1% during the fourth quarter. BlackRock Inc. now owns 4,938,162 shares of the digital transformation consultancy’s stock worth $235,304,000 after purchasing an additional 101,611 shares during the period. Hedge funds and other institutional investors own 93.85% of the company’s stock.

A number of brokerages have recently weighed in on PRFT. Alliance Global Partners upped their target price on Perficient from $55.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. Needham & Company LLC increased their price target on Perficient from $46.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, February 26th. Zacks Investment Research raised Perficient from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Friday, March 5th. Barrington Research increased their price target on Perficient from $48.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, February 26th. Finally, JPMorgan Chase & Co. started coverage on Perficient in a research report on Tuesday, March 30th. They issued a “neutral” rating and a $68.00 price target for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Perficient presently has an average rating of “Buy” and a consensus target price of $64.33.

Shares of NASDAQ:PRFT opened at $62.83 on Friday. The company has a market capitalization of $2.08 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 1.78 and a beta of 1.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.97 and a quick ratio of 1.97. The business has a fifty day moving average price of $59.24 and a two-hundred day moving average price of $50.83. Perficient, Inc. has a 1 year low of $29.37 and a 1 year high of $66.14.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, February 25th. The digital transformation consultancy reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $162.40 million during the quarter, compared to the consensus estimate of $159.61 million. Perficient had a return on equity of 15.08% and a net margin of 5.64%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. Sell-side analysts anticipate that Perficient, Inc. will post 1.97 earnings per share for the current year.

Perficient Company Profile

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers solutions in the digital and technology strategy, management consulting, and organizational change management areas; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolio.

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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