Ariadne Wealth Management LP Takes Position in Perficient, Inc. (NASDAQ:PRFT)

Ariadne Wealth Management LP bought a new stake in Perficient, Inc. (NASDAQ:PRFT) during the second quarter, Holdings Channel.com reports. The fund bought 44,490 shares of the digital transformation consultancy’s stock, valued at approximately $3,327,000. Perficient makes up about 1.8% of Ariadne Wealth Management LP’s portfolio, making the stock its 15th largest position.

Other hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in shares of Perficient by 36.8% in the first quarter. BNP Paribas Financial Markets now owns 34,266 shares of the digital transformation consultancy’s stock valued at $1,929,000 after purchasing an additional 9,222 shares during the period. UniSuper Management Pty Ltd acquired a new stake in Perficient in the first quarter valued at $463,000. Confluence Investment Management LLC acquired a new stake in Perficient in the first quarter valued at $2,886,000. Norden Group LLC raised its holdings in shares of Perficient by 2,123.4% during the first quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy’s stock worth $5,499,000 after purchasing an additional 93,301 shares during the period. Finally, Schroder Investment Management Group raised its holdings in shares of Perficient by 3.8% during the fourth quarter. Schroder Investment Management Group now owns 345,875 shares of the digital transformation consultancy’s stock worth $22,765,000 after purchasing an additional 12,686 shares during the period. 95.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Perficient Stock Performance

Shares of Perficient stock opened at $75.48 on Tuesday. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 1.96 and a beta of 1.64. Perficient, Inc. has a 1 year low of $42.51 and a 1 year high of $75.74. The company’s fifty day simple moving average is $75.25 and its 200-day simple moving average is $68.76. 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 (NASDAQ:PRFT) last released its quarterly earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). The business had revenue of $222.82 million during the quarter, compared to the consensus estimate of $223.58 million. Perficient had a net margin of 8.48% and a return on equity of 18.39%. As a group, sell-side analysts expect that Perficient, Inc. will post 3.21 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.