Glazer Capital LLC Buys Shares of 477,150 Perficient, Inc. (NASDAQ:PRFT)

Glazer Capital LLC acquired a new position in shares of Perficient, Inc. (NASDAQ:PRFT) in the second quarter, Holdings Channel reports. The firm acquired 477,150 shares of the digital transformation consultancy’s stock, valued at approximately $35,686,000. Perficient accounts for about 2.8% of Glazer Capital LLC’s holdings, making the stock its 9th largest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Fidelis Capital Partners LLC purchased a new position in Perficient in the first quarter worth $25,000. Parallel Advisors LLC increased its position in Perficient by 73.9% during the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after buying an additional 224 shares in the last quarter. GAMMA Investing LLC raised its stake in Perficient by 156.7% in the second quarter. GAMMA Investing LLC now owns 552 shares of the digital transformation consultancy’s stock valued at $41,000 after buying an additional 337 shares during the last quarter. CWM LLC increased its holdings in shares of Perficient by 67.7% during the second quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock valued at $43,000 after acquiring an additional 233 shares in the last quarter. Finally, Park Place Capital Corp boosted its stake in Perficient by 41.1% in the 1st quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock worth $66,000 after purchasing an additional 344 shares in the last quarter. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Perficient in a research note on Friday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $70.43.

Perficient Price Performance

NASDAQ:PRFT opened at $75.50 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.16 and a quick ratio of 4.16. The company’s fifty day moving average price is $75.19 and its 200-day moving average price is $68.30. Perficient, Inc. has a 1-year low of $42.51 and a 1-year high of $75.66. The firm has a market capitalization of $2.65 billion, a P/E ratio of 32.26, a PEG ratio of 1.90 and a beta of 1.64.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). The company had revenue of $222.82 million for the quarter, compared to analysts’ expectations of $223.58 million. Perficient had a net margin of 8.48% and a return on equity of 18.39%. As a group, equities research analysts anticipate that Perficient, Inc. will post 3.31 EPS for the current year.

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.