Bridge City Capital LLC Grows Stock Position in Perficient, Inc. (NASDAQ:PRFT)

Bridge City Capital LLC increased its holdings in Perficient, Inc. (NASDAQ:PRFT – Get Rating) by 67.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,039 shares of the digital transformation consultancy’s stock after buying an additional 9,254 shares during the period. Bridge City Capital LLC owned about 0.07% of Perficient worth $1,498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PRFT. Allspring Global Investments Holdings LLC lifted its holdings in Perficient by 492.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 136,719 shares of the digital transformation consultancy’s stock valued at $12,535,000 after purchasing an additional 113,655 shares in the last quarter. Comerica Bank lifted its holdings in Perficient by 6.3% in the 2nd quarter. Comerica Bank now owns 29,489 shares of the digital transformation consultancy’s stock valued at $2,823,000 after purchasing an additional 1,735 shares in the last quarter. Aviva PLC lifted its holdings in Perficient by 194.7% in the 2nd quarter. Aviva PLC now owns 21,120 shares of the digital transformation consultancy’s stock valued at $1,936,000 after purchasing an additional 13,953 shares in the last quarter. First National Bank of Omaha purchased a new position in Perficient in the 2nd quarter valued at about $1,195,000. Finally, Confluence Investment Management LLC lifted its holdings in Perficient by 4.9% in the 3rd quarter. Confluence Investment Management LLC now owns 32,469 shares of the digital transformation consultancy’s stock valued at $2,111,000 after purchasing an additional 1,511 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Perficient news, Director Ralph C. Derrickson purchased 729 shares of the stock in a transaction dated Monday, November 21st. The shares were bought at an average cost of $68.66 per share, with a total value of $50,053.14. Following the completion of the acquisition, the director now owns 39,101 shares of the company’s stock, valued at $2,684,674.66. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director David S. Lundeen sold 4,000 shares of Perficient stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $71.42, for a total value of $285,680.00. Following the transaction, the director now owns 34,412 shares of the company’s stock, valued at approximately $2,457,705.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ralph C. Derrickson purchased 729 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was bought at an average cost of $68.66 per share, for a total transaction of $50,053.14. Following the purchase, the director now directly owns 39,101 shares in the company, valued at approximately $2,684,674.66. The disclosure for this purchase can be found here. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PRFT shares. Barrington Research cut their price objective on shares of Perficient from $110.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. JPMorgan Chase & Co. increased their target price on shares of Perficient from $80.00 to $84.00 in a research report on Thursday, December 15th. TheStreet downgraded shares of Perficient from a “b-” rating to a “c+” rating in a research report on Tuesday, November 8th. Needham & Company LLC dropped their target price on shares of Perficient from $120.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, October 27th. Finally, Maxim Group dropped their target price on shares of Perficient from $140.00 to $110.00 in a research report on Wednesday, October 12th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.75.

Perficient Stock Performance

PRFT traded up $1.46 during trading hours on Wednesday, hitting $75.60. 21,772 shares of the stock were exchanged, compared to its average volume of 154,094. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 1.03 and a beta of 1.50. Perficient, Inc. has a 12 month low of $59.78 and a 12 month high of $116.44. The stock has a 50-day simple moving average of $72.05 and a 200-day simple moving average of $74.61.

Perficient Profile

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Perficient, Inc engages in the provision of digital consultancy services. Its service categories include strategy and consulting, data and intelligence, platforms and technology, customer experience and digital marketing, innovation, and product development, and optimized global delivery. The company was founded in 1998 and is headquartered in St.