Norden Group LLC Acquires 93,301 Shares of Perficient, Inc. (NASDAQ:PRFT)

Norden Group LLC raised its stake in Perficient, Inc. (NASDAQ:PRFT) by 2,123.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,695 shares of the digital transformation consultancy’s stock after purchasing an additional 93,301 shares during the period. Norden Group LLC owned approximately 0.28% of Perficient worth $5,499,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Handelsbanken Fonder AB increased its position in Perficient by 3.8% in the 4th quarter. Handelsbanken Fonder AB now owns 5,412 shares of the digital transformation consultancy’s stock valued at $356,000 after acquiring an additional 200 shares in the last quarter. Parallel Advisors LLC boosted its stake in Perficient by 73.9% in the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after acquiring an additional 224 shares during the last quarter. Comerica Bank grew its holdings in Perficient by 1.3% during the 4th quarter. Comerica Bank now owns 18,682 shares of the digital transformation consultancy’s stock worth $1,230,000 after acquiring an additional 235 shares during the period. Covenant Partners LLC raised its position in shares of Perficient by 8.2% during the 4th quarter. Covenant Partners LLC now owns 3,742 shares of the digital transformation consultancy’s stock valued at $246,000 after acquiring an additional 283 shares during the last quarter. Finally, Values First Advisors Inc. lifted its stake in shares of Perficient by 7.7% in the 4th quarter. Values First Advisors Inc. now owns 4,380 shares of the digital transformation consultancy’s stock valued at $288,000 after purchasing an additional 314 shares during the period. 95.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on PRFT. JPMorgan Chase & Co. lowered their price target on Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a research note on Monday, May 6th. Scotiabank increased their price objective on shares of Perficient from $50.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Monday, May 6th. Barrington Research reaffirmed a “market perform” rating on shares of Perficient in a research report on Tuesday, May 7th. Finally, StockNews.com assumed coverage on Perficient in a research report on Tuesday. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, Perficient currently has a consensus rating of “Hold” and an average target price of $70.43.

Perficient Trading Up 0.2 %

Shares of NASDAQ:PRFT opened at $74.90 on Thursday. The company has a 50-day simple moving average of $70.12 and a 200 day simple moving average of $65.17. The company has a market capitalization of $2.63 billion, a P/E ratio of 32.01, a price-to-earnings-growth ratio of 1.97 and a beta of 1.62. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.18 and a current ratio of 4.18. Perficient, Inc. has a 52-week low of $42.51 and a 52-week high of $96.93.

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, meeting analysts’ consensus estimates of $0.77. Perficient had a return on equity of 19.50% and a net margin of 9.40%. The company had revenue of $215.30 million during the quarter, compared to analysts’ expectations of $224.99 million. During the same period last year, the firm posted $0.89 earnings per share. The business’s revenue was down 7.0% on a year-over-year basis. Sell-side analysts forecast that Perficient, Inc. will post 3.16 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.