Foresters Investment Management Company Inc. raised its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 14.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 309,400 shares of the digital transformation consultancy’s stock after purchasing an additional 37,900 shares during the period. Foresters Investment Management Company Inc.’s holdings in Perficient were worth $6,887,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. increased its position in Perficient by 2.9% during the 3rd quarter. BlackRock Inc. now owns 5,072,288 shares of the digital transformation consultancy’s stock valued at $135,176,000 after purchasing an additional 144,771 shares during the period. Vanguard Group Inc increased its position in Perficient by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 2,080,967 shares of the digital transformation consultancy’s stock valued at $55,458,000 after purchasing an additional 29,564 shares during the period. Vanguard Group Inc. grew its position in shares of Perficient by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,080,967 shares of the digital transformation consultancy’s stock worth $55,458,000 after buying an additional 29,564 shares during the last quarter. Investment Counselors of Maryland LLC grew its position in shares of Perficient by 2.4% in the 4th quarter. Investment Counselors of Maryland LLC now owns 1,040,875 shares of the digital transformation consultancy’s stock worth $23,170,000 after buying an additional 24,100 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC purchased a new position in shares of Perficient in the 4th quarter worth approximately $16,247,000. 89.56% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on PRFT. Zacks Investment Research raised shares of Perficient from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, March 5th. BidaskClub raised shares of Perficient from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. Barrington Research reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Perficient in a research report on Wednesday, February 27th. Maxim Group reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Perficient in a research report on Friday, February 15th. Finally, Jefferies Financial Group began coverage on shares of Perficient in a research report on Tuesday, November 20th. They issued a “buy” rating and a $30.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating, Perficient has a consensus rating of “Buy” and a consensus target price of $32.17.
Shares of Perficient stock opened at $28.67 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.34. Perficient, Inc. has a 52-week low of $20.92 and a 52-week high of $31.09. The company has a market capitalization of $955.44 million, a PE ratio of 23.69, a PEG ratio of 2.18 and a beta of 0.95.
Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Tuesday, February 26th. The digital transformation consultancy reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.07. Perficient had a net margin of 4.93% and a return on equity of 11.23%. The firm had revenue of $131.70 million for the quarter, compared to the consensus estimate of $128.35 million. During the same quarter in the previous year, the firm earned $0.37 EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that Perficient, Inc. will post 1.29 earnings per share for the current fiscal year.
In related news, CFO Paul E. Martin sold 14,560 shares of Perficient stock in a transaction that occurred on Saturday, March 2nd. The shares were sold at an average price of $29.20, for a total value of $425,152.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey S. Davis sold 57,676 shares of Perficient stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $29.09, for a total transaction of $1,677,794.84. The disclosure for this sale can be found here. Insiders sold a total of 216,161 shares of company stock valued at $6,206,853 over the last quarter. 3.50% of the stock is owned by company insiders.
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Perficient Company Profile
Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.
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