Perkins Capital Management Inc. Decreases Stock Position in Perficient, Inc. (NASDAQ:PRFT)

Perkins Capital Management Inc. decreased its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,000 shares of the digital transformation consultancy’s stock after selling 500 shares during the period. Perkins Capital Management Inc.’s holdings in Perficient were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PRFT. Envestnet Asset Management Inc. lifted its stake in Perficient by 328.0% in the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock worth $10,754,000 after purchasing an additional 142,427 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Perficient by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 336,403 shares of the digital transformation consultancy’s stock worth $19,464,000 after buying an additional 16,817 shares during the period. Townsquare Capital LLC boosted its position in Perficient by 389.3% during the 3rd quarter. Townsquare Capital LLC now owns 37,028 shares of the digital transformation consultancy’s stock valued at $2,142,000 after acquiring an additional 29,460 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of Perficient by 114.7% in the 3rd quarter. Natixis Advisors L.P. now owns 51,729 shares of the digital transformation consultancy’s stock worth $2,993,000 after acquiring an additional 27,632 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Perficient by 6,104.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 162,010 shares of the digital transformation consultancy’s stock valued at $9,374,000 after purchasing an additional 159,399 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.

Perficient Price Performance

Shares of Perficient stock traded down $1.09 on Monday, hitting $55.20. The company’s stock had a trading volume of 54,575 shares, compared to its average volume of 199,114. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.37 and a beta of 1.43. Perficient, Inc. has a 1 year low of $51.23 and a 1 year high of $96.93. The firm has a fifty day moving average price of $65.55 and a 200-day moving average price of $63.17. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The company had revenue of $220.79 million for the quarter, compared to analyst estimates of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share. As a group, sell-side analysts anticipate that Perficient, Inc. will post 3.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PRFT has been the topic of a number of recent analyst reports. Guggenheim initiated coverage on shares of Perficient in a report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target on the stock. Scotiabank lowered their price target on Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. JPMorgan Chase & Co. upped their target price on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, Barrington Research reissued an “outperform” rating and set a $77.00 price target on shares of Perficient in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $70.00.

Insiders Place Their Bets

In other news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Paul E. Martin sold 3,664 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $246,440.64. Following the transaction, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,149 shares of company stock valued at $885,619. Insiders own 2.50% of the company’s stock.

Perficient Company Profile

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, 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 portfolios.