Perficient, Inc. (NASDAQ:PRFT) Shares Acquired by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. boosted its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 239,833 shares of the digital transformation consultancy’s stock after purchasing an additional 3,888 shares during the quarter. Perficient makes up approximately 3.9% of Mcrae Capital Management Inc.’s holdings, making the stock its 11th largest holding. Mcrae Capital Management Inc. owned about 0.69% of Perficient worth $15,786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE boosted its stake in Perficient by 22.2% during the 1st quarter. US Bancorp DE now owns 2,282 shares of the digital transformation consultancy’s stock valued at $251,000 after acquiring an additional 415 shares during the last quarter. Natixis Advisors L.P. bought a new stake in Perficient in the first quarter valued at about $1,742,000. Bank of Montreal Can raised its stake in Perficient by 7.1% during the first quarter. Bank of Montreal Can now owns 24,675 shares of the digital transformation consultancy’s stock valued at $2,830,000 after buying an additional 1,639 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Perficient by 56.4% during the 1st quarter. MetLife Investment Management LLC now owns 17,325 shares of the digital transformation consultancy’s stock worth $1,907,000 after buying an additional 6,246 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in Perficient by 9.9% in the first quarter. Panagora Asset Management Inc. now owns 15,272 shares of the digital transformation consultancy’s stock worth $1,681,000 after purchasing an additional 1,372 shares during the period. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on PRFT shares. Scotiabank decreased their target price on Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. Barrington Research reiterated an “outperform” rating and set a $77.00 price objective on shares of Perficient in a research report on Wednesday, February 28th. Guggenheim assumed coverage on Perficient in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Perficient presently has an average rating of “Hold” and an average target price of $70.00.

Insider Activity

In related news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total value of $47,223.36. Following the completion of the transaction, the senior vice president now owns 26,533 shares in the company, valued at approximately $1,831,838.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $591,955.26. Following the transaction, the chief executive officer now owns 193,304 shares in the company, valued at approximately $13,001,627.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,149 shares of company stock worth $885,619. Insiders own 2.50% of the company’s stock.

Perficient Price Performance

PRFT stock traded down $0.59 during trading hours on Monday, hitting $55.70. 262,320 shares of the stock traded hands, compared to its average volume of 202,093. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The stock has a 50-day simple moving average of $65.55 and a 200 day simple moving average of $63.17. Perficient, Inc. has a one year low of $51.23 and a one year high of $96.93. The company has a market cap of $1.95 billion, a P/E ratio of 20.00, a P/E/G ratio of 1.37 and a beta of 1.43.

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 the consensus estimate of $1.01 by ($0.02). Perficient had a net margin of 10.91% and a return on equity of 23.39%. The business had revenue of $220.79 million for the quarter, compared to the consensus estimate of $223.79 million. During the same quarter last year, the business posted $0.98 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities analysts forecast that Perficient, Inc. will post 3.43 earnings per share for the current year.

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.