Victory Capital Management Inc. Has $918,000 Stock Position in Perficient, Inc. (NASDAQ:PRFT)

Victory Capital Management Inc. cut its stake in shares of Perficient, Inc. (NASDAQ:PRFT) by 98.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,279 shares of the digital transformation consultancy’s stock after selling 1,102,010 shares during the period. Victory Capital Management Inc.’s holdings in Perficient were worth $918,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rhumbline Advisers increased its holdings in Perficient by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 104,758 shares of the digital transformation consultancy’s stock worth $7,835,000 after purchasing an additional 456 shares in the last quarter. Pentwater Capital Management LP acquired a new position in shares of Perficient in the second quarter valued at approximately $22,437,000. Picton Mahoney Asset Management acquired a new position in shares of Perficient in the second quarter valued at approximately $11,584,000. Hantz Financial Services Inc. bought a new position in Perficient in the 2nd quarter valued at approximately $138,000. Finally, Burney Co. acquired a new stake in Perficient during the 2nd quarter worth approximately $206,000. Institutional investors and hedge funds own 95.00% of the company’s stock.

Perficient Stock Performance

NASDAQ:PRFT opened at $75.50 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.16 and a current ratio of 4.16. Perficient, Inc. has a fifty-two week low of $42.51 and a fifty-two week high of $75.66. The company has a 50 day simple moving average of $75.17 and a two-hundred day simple moving average of $68.07. The company has a market capitalization of $2.65 billion, a PE ratio of 32.28, a P/E/G ratio of 1.90 and a beta of 1.64.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data 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). The firm had revenue of $222.82 million for the quarter, compared to analyst estimates of $223.58 million. Perficient had a return on equity of 18.39% and a net margin of 8.48%. Research analysts anticipate that Perficient, Inc. will post 3.31 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Perficient in a research report on Friday. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.43.

Perficient 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.