SG Americas Securities LLC Sells 2,273 Shares of Perficient, Inc. (NASDAQ:PRFT)

SG Americas Securities LLC decreased its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 46.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,612 shares of the digital transformation consultancy’s stock after selling 2,273 shares during the period. SG Americas Securities LLC’s holdings in Perficient were worth $197,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PRFT. Glazer Capital LLC purchased a new stake in shares of Perficient during the second quarter valued at approximately $35,686,000. Alpine Associates Management Inc. purchased a new stake in shares of Perficient during the second quarter valued at approximately $32,541,000. Millennium Management LLC grew its holdings in shares of Perficient by 1,044.3% during the second quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock valued at $35,577,000 after buying an additional 434,115 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Perficient during the second quarter valued at approximately $22,968,000. Finally, Pentwater Capital Management LP purchased a new stake in shares of Perficient during the second quarter valued at approximately $22,437,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Perficient Price Performance

PRFT opened at $75.96 on Wednesday. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70. Perficient, Inc. has a 1-year low of $42.51 and a 1-year high of $76.01. The company has a market capitalization of $2.67 billion, a PE ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.63. The firm’s 50 day simple moving average is $75.49 and its two-hundred day simple moving average is $70.80.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.01). Perficient had a return on equity of 18.39% and a net margin of 8.48%. The business had revenue of $222.82 million during the quarter, compared to the consensus estimate of $223.58 million. As a group, equities analysts forecast that Perficient, Inc. will post 2.83 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Perficient in a report on Tuesday. They issued a “sell” rating on the stock. 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.43.

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.