Meeder Asset Management Inc. Buys 1,014 Shares of Perficient, Inc. (NASDAQ:PRFT)

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Meeder Asset Management Inc. lifted its stake in Perficient, Inc. (NASDAQ:PRFT) by 84.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,209 shares of the digital transformation consultancy’s stock after buying an additional 1,014 shares during the period. Meeder Asset Management Inc.’s holdings in Perficient were worth $76,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRFT. Quantamental Technologies LLC bought a new position in Perficient during the first quarter worth about $40,000. Advisor Group Inc. increased its holdings in shares of Perficient by 397.6% during the second quarter. Advisor Group Inc. now owns 4,339 shares of the digital transformation consultancy’s stock worth $149,000 after buying an additional 3,467 shares in the last quarter. Ibex Investors LLC acquired a new stake in shares of Perficient during the second quarter worth approximately $226,000. BNP Paribas Arbitrage SA increased its holdings in shares of Perficient by 364.5% during the first quarter. BNP Paribas Arbitrage SA now owns 6,731 shares of the digital transformation consultancy’s stock worth $184,000 after buying an additional 5,282 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Perficient during the second quarter worth approximately $241,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

In other Perficient news, Chairman Jeffrey S. Davis sold 25,302 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $36.42, for a total value of $921,498.84. Following the transaction, the chairman now directly owns 429,691 shares of the company’s stock, valued at $15,649,346.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David S. Lundeen sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $36.09, for a total transaction of $360,900.00. Following the completion of the transaction, the director now directly owns 48,857 shares in the company, valued at $1,763,249.13. The disclosure for this sale can be found here. In the last three months, insiders sold 43,230 shares of company stock valued at $1,564,239. 2.90% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on PRFT shares. BidaskClub raised shares of Perficient from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 20th. Barrington Research raised their price objective on shares of Perficient from $37.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Zacks Investment Research raised shares of Perficient from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a report on Tuesday, August 6th. Nomura started coverage on shares of Perficient in a report on Friday, June 21st. They set a “buy” rating and a $40.00 price objective for the company. Finally, Maxim Group reaffirmed a “buy” rating and set a $41.00 price objective on shares of Perficient in a report on Wednesday, July 24th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Perficient has an average rating of “Buy” and a consensus target price of $38.33.

Shares of Perficient stock opened at $36.50 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.30 and a quick ratio of 2.30. The firm has a market cap of $1.20 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.15 and a beta of 0.87. The firm has a 50 day simple moving average of $35.50 and a 200 day simple moving average of $31.25. Perficient, Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $38.80.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Thursday, August 1st. The digital transformation consultancy reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $141.90 million during the quarter, compared to analyst estimates of $137.05 million. Perficient had a net margin of 5.52% and a return on equity of 12.31%. Perficient’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 earnings per share. On average, sell-side analysts expect that Perficient, Inc. will post 1.58 EPS for the current year.

About Perficient

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, commerce, content management, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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