Millennium Management LLC lifted its stake in shares of Perficient, Inc. (NASDAQ:PRFT) by 76.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 55,398 shares of the digital transformation consultancy’s stock after purchasing an additional 24,024 shares during the quarter. Millennium Management LLC’s holdings in Perficient were worth $1,233,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in PRFT. Moneta Group Investment Advisors LLC acquired a new position in shares of Perficient during the fourth quarter worth $16,247,000. Nomura Holdings Inc. increased its holdings in shares of Perficient by 2,931.4% during the fourth quarter. Nomura Holdings Inc. now owns 325,122 shares of the digital transformation consultancy’s stock worth $7,198,000 after buying an additional 314,397 shares in the last quarter. Oak Ridge Investments LLC acquired a new position in shares of Perficient during the fourth quarter worth $6,901,000. BlackRock Inc. increased its holdings in shares of Perficient by 2.9% during the third quarter. BlackRock Inc. now owns 5,072,288 shares of the digital transformation consultancy’s stock worth $135,176,000 after buying an additional 144,771 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its holdings in shares of Perficient by 33.5% during the fourth quarter. ClariVest Asset Management LLC now owns 426,216 shares of the digital transformation consultancy’s stock worth $9,487,000 after buying an additional 106,923 shares in the last quarter. Institutional investors own 91.44% of the company’s stock.
Shares of Perficient stock opened at $28.78 on Monday. 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 twelve month low of $20.92 and a twelve month high of $31.09. The firm has a market capitalization of $949.08 million, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94.
Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Tuesday, February 26th. The digital transformation consultancy reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. Perficient had a net margin of 4.93% and a return on equity of 11.23%. The company had revenue of $131.70 million for the quarter, compared to analysts’ expectations of $128.35 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Perficient’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Perficient, Inc. will post 1.29 earnings per share for the current fiscal year.
PRFT has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Perficient from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Tuesday, March 5th. BidaskClub raised shares of Perficient from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Maxim Group reissued a “buy” rating and issued a $34.00 price objective on shares of Perficient in a research note on Friday, February 15th. Finally, Barrington Research reissued a “buy” rating and issued a $33.00 price objective on shares of Perficient in a research note on Wednesday, February 27th. Eight research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $32.67.
In related news, COO Thomas J. Hogan sold 3,380 shares of the business’s stock in a transaction on Saturday, March 2nd. The shares were sold at an average price of $29.20, for a total value of $98,696.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Paul E. Martin sold 6,810 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $28.83, for a total transaction of $196,332.30. The disclosure for this sale can be found here. In the last three months, insiders sold 216,161 shares of company stock worth $6,206,853. 3.50% of the stock is currently owned by insiders.
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, commerce, content management, 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.
See Also: Dividend
Want to see what other hedge funds are holding PRFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Perficient, Inc. (NASDAQ:PRFT).
Receive News & Ratings for Perficient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perficient and related companies with MarketBeat.com's FREE daily email newsletter.