Louisiana State Employees Retirement System Reduces Position in Perficient, Inc. (NASDAQ:PRFT)

Louisiana State Employees Retirement System trimmed its position in Perficient, Inc. (NASDAQ:PRFT) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,000 shares of the digital transformation consultancy’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in Perficient were worth $1,283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PRFT. Vanguard Group Inc. raised its stake in Perficient by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock valued at $244,380,000 after purchasing an additional 50,313 shares during the period. Glazer Capital LLC purchased a new position in shares of Perficient in the 2nd quarter worth approximately $35,686,000. Millennium Management LLC boosted its holdings in Perficient by 1,044.3% during the 2nd quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock valued at $35,577,000 after acquiring an additional 434,115 shares during the period. Lord Abbett & CO. LLC boosted its holdings in Perficient by 1.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 468,466 shares of the digital transformation consultancy’s stock valued at $26,370,000 after acquiring an additional 7,931 shares during the period. Finally, Alpine Associates Management Inc. purchased a new position in Perficient during the 2nd quarter valued at $32,541,000. 95.00% of the stock is owned by hedge funds and other institutional investors.

Perficient Stock Performance

Shares of Perficient stock opened at $75.96 on Friday. Perficient, Inc. has a fifty-two week low of $42.51 and a fifty-two week high of $76.01. The stock has a 50 day moving average of $75.65 and a 200 day moving average of $72.08. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.63. 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 (NASDAQ:PRFT) last released its quarterly earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 EPS 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 analysts’ expectations of $223.58 million. Perficient had a return on equity of 18.39% and a net margin of 8.48%. As a group, research analysts predict that Perficient, Inc. will post 2.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Perficient in a research report on Wednesday. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Perficient presently has a consensus rating of “Hold” and an average target price of $70.00.

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.