Pitcairn Co. bought a new stake in shares of Perficient, Inc. (NASDAQ:PRFT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,421 shares of the digital transformation consultancy’s stock, valued at approximately $266,000.
A number of other hedge funds also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. grew its holdings in Perficient by 102.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,173,109 shares of the digital transformation consultancy’s stock valued at $31,782,000 after buying an additional 594,692 shares in the last quarter. State Street Corp boosted its position in shares of Perficient by 4.6% during the 1st quarter. State Street Corp now owns 1,045,220 shares of the digital transformation consultancy’s stock valued at $28,315,000 after acquiring an additional 46,234 shares during the last quarter. Norges Bank bought a new stake in shares of Perficient during the 4th quarter valued at about $32,019,000. Schroder Investment Management Group boosted its position in shares of Perficient by 53.6% during the 1st quarter. Schroder Investment Management Group now owns 638,695 shares of the digital transformation consultancy’s stock valued at $17,303,000 after acquiring an additional 222,905 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its position in shares of Perficient by 3.3% during the 1st quarter. Driehaus Capital Management LLC now owns 607,671 shares of the digital transformation consultancy’s stock valued at $16,462,000 after acquiring an additional 19,524 shares during the last quarter. 91.36% of the stock is owned by institutional investors and hedge funds.
NASDAQ:PRFT opened at $39.21 on Friday. The business has a 50 day moving average of $35.32 and a 200 day moving average of $37.74. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 2.10 and a beta of 1.39. Perficient, Inc. has a 1-year low of $18.88 and a 1-year high of $53.76. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.64 and a quick ratio of 2.59.
Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, July 30th. The digital transformation consultancy reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.11. Perficient had a return on equity of 14.53% and a net margin of 6.39%. The firm had revenue of $146.34 million during the quarter, compared to the consensus estimate of $143.61 million. As a group, sell-side analysts anticipate that Perficient, Inc. will post 1.55 EPS for the current year.
A number of brokerages have recently issued reports on PRFT. William Blair reiterated a “buy” rating on shares of Perficient in a research report on Thursday, June 18th. BidaskClub upgraded Perficient from a “hold” rating to a “buy” rating in a research report on Saturday. Barrington Research lifted their price target on Perficient from $44.00 to $48.00 in a research report on Friday. Needham & Company LLC boosted their target price on Perficient from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, June 19th. Finally, Alliance Global Partners restated a “buy” rating and issued a $50.00 target price (up previously from $43.00) on shares of Perficient in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Perficient currently has a consensus rating of “Buy” and an average price target of $43.33.
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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