Perficient, Inc. (NASDAQ:PRFT) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 0.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,291,141 shares of the digital transformation consultancy’s stock after selling 25,817 shares during the period. Vanguard Group Inc. owned 0.12% of Perficient worth $282,443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Perficient by 26.2% in the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after acquiring an additional 404,154 shares in the last quarter. Ophir Asset Management Pty Ltd acquired a new position in Perficient during the fourth quarter worth approximately $25,474,000. Norges Bank acquired a new position in Perficient during the fourth quarter worth approximately $23,950,000. Great Lakes Advisors LLC purchased a new stake in Perficient in the fourth quarter valued at approximately $5,978,000. Finally, Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Perficient by 79.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 78,875 shares of the digital transformation consultancy’s stock valued at $5,192,000 after acquiring an additional 34,838 shares during the period. Institutional investors and hedge funds own 95.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PRFT. Alliance Global Partners reiterated a “neutral” rating on shares of Perficient in a research report on Tuesday, May 7th. William Blair reiterated a “market perform” rating on shares of Perficient in a research note on Monday, May 6th. Maxim Group restated a “hold” rating and issued a $76.00 price target on shares of Perficient in a research report on Tuesday, May 7th. JPMorgan Chase & Co. decreased their price objective on Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $70.43.

Perficient Stock Performance

Shares of PRFT stock opened at $74.79 on Monday. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.72. Perficient, Inc. has a 12-month low of $42.51 and a 12-month high of $96.93. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.63. The stock has a 50 day simple moving average of $68.34 and a 200-day simple moving average of $65.00.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The firm had revenue of $215.30 million during the quarter, compared to analysts’ expectations of $224.99 million. Perficient had a return on equity of 19.50% and a net margin of 9.40%. Perficient’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share. On average, equities analysts forecast that Perficient, Inc. will post 3.16 EPS 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.