King Luther Capital Management Corp Sells 12,303 Shares of Perficient, Inc. (NASDAQ:PRFT)

King Luther Capital Management Corp cut its stake in Perficient, Inc. (NASDAQ:PRFT) by 30.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 28,600 shares of the digital transformation consultancy’s stock after selling 12,303 shares during the period. King Luther Capital Management Corp’s holdings in Perficient were worth $1,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in Perficient during the fourth quarter valued at approximately $28,000. NBC Securities Inc. purchased a new position in Perficient during the third quarter valued at approximately $38,000. Principal Securities Inc. purchased a new position in Perficient during the fourth quarter valued at approximately $41,000. Huntington National Bank lifted its holdings in Perficient by 10.5% during the third quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy’s stock valued at $130,000 after purchasing an additional 213 shares in the last quarter. Finally, Cetera Trust Company N.A purchased a new position in Perficient during the fourth quarter valued at approximately $161,000. 95.00% of the stock is currently owned by institutional investors.

Perficient Stock Performance

Shares of NASDAQ PRFT traded up $0.09 during midday trading on Friday, reaching $73.80. 83,697 shares of the stock were exchanged, compared to its average volume of 480,669. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.86 and a beta of 1.46. Perficient, Inc. has a twelve month low of $42.51 and a twelve month high of $96.93. The firm has a 50-day simple moving average of $57.45 and a two-hundred day simple moving average of $62.95. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.72.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Perficient had a net margin of 9.40% and a return on equity of 19.50%. The business had revenue of $215.30 million for the quarter, compared to analysts’ expectations of $224.99 million. During the same quarter last year, the company earned $0.89 EPS. The business’s revenue was down 7.0% on a year-over-year basis. As a group, analysts anticipate that Perficient, Inc. will post 3.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on PRFT. Guggenheim began coverage on shares of Perficient in a report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 target price on the stock. Alliance Global Partners reaffirmed a “neutral” rating on shares of Perficient in a research note on Tuesday, May 7th. JPMorgan Chase & Co. decreased their price target on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Maxim Group reaffirmed a “hold” rating and set a $76.00 price target on shares of Perficient in a research note on Tuesday, May 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Perficient in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, Perficient currently has an average rating of “Hold” and a consensus price target of $70.43.

About Perficient

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.