Pitcairn Co. Reduces Holdings in Perficient, Inc. (NASDAQ:PRFT)

Pitcairn Co. lowered its holdings in shares of Perficient, Inc. (NASDAQ:PRFTGet Rating) by 12.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,021 shares of the digital transformation consultancy’s stock after selling 850 shares during the quarter. Pitcairn Co.’s holdings in Perficient were worth $778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Perficient by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,250,384 shares of the digital transformation consultancy’s stock worth $144,674,000 after purchasing an additional 4,219 shares in the last quarter. abrdn plc increased its position in Perficient by 7.4% during the fourth quarter. abrdn plc now owns 958,670 shares of the digital transformation consultancy’s stock worth $123,946,000 after buying an additional 65,692 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Perficient by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 619,346 shares of the digital transformation consultancy’s stock worth $80,087,000 after acquiring an additional 32,245 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Perficient by 117.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 540,865 shares of the digital transformation consultancy’s stock valued at $62,578,000 after purchasing an additional 292,383 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its stake in shares of Perficient by 13.3% during the third quarter. Hood River Capital Management LLC now owns 451,032 shares of the digital transformation consultancy’s stock valued at $52,184,000 after buying an additional 52,794 shares during the period. 89.37% of the stock is currently owned by institutional investors.

Shares of NASDAQ PRFT opened at $96.38 on Friday. The business has a 50 day simple moving average of $103.81 and a 200 day simple moving average of $112.22. Perficient, Inc. has a 52 week low of $71.13 and a 52 week high of $153.28. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 52.10, a PEG ratio of 1.42 and a beta of 1.50. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.38 and a current ratio of 2.38.

Perficient (NASDAQ:PRFTGet Rating) last released its quarterly earnings results on Thursday, April 28th. The digital transformation consultancy reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.02. The company had revenue of $222.11 million during the quarter, compared to the consensus estimate of $219.66 million. Perficient had a return on equity of 27.60% and a net margin of 8.07%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. On average, analysts predict that Perficient, Inc. will post 3.76 EPS for the current year.

In other news, Director Gary Wimberly purchased 399 shares of Perficient stock in a transaction on Monday, February 28th. The shares were purchased at an average cost of $100.00 per share, for a total transaction of $39,900.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ralph C. Derrickson sold 5,000 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $96.15, for a total value of $480,750.00. Following the sale, the director now owns 37,281 shares in the company, valued at approximately $3,584,568.15. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Perficient from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Saturday, May 21st. Barrington Research cut their price target on Perficient from $150.00 to $124.00 in a research note on Friday, February 25th. Morgan Stanley started coverage on Perficient in a report on Tuesday, April 26th. They issued an “equal weight” rating and a $120.00 price objective for the company. Maxim Group reiterated a “buy” rating and set a $140.00 target price on shares of Perficient in a research note on Friday, April 29th. Finally, StockNews.com initiated coverage on shares of Perficient in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $127.29.

Perficient Profile (Get Rating)

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, and organizational change management; 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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