Illinois Municipal Retirement Fund Has $1.32 Million Stake in Perficient, Inc. (NASDAQ:PRFT)

Illinois Municipal Retirement Fund cut its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,055 shares of the digital transformation consultancy’s stock after selling 458 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Perficient worth $1,320,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Perficient by 3.8% in the third quarter. Vanguard Group Inc. now owns 4,316,958 shares of the digital transformation consultancy’s stock valued at $249,779,000 after purchasing an additional 158,842 shares during the last quarter. Congress Asset Management Co. MA raised its holdings in Perficient by 69.1% in the 3rd quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy’s stock valued at $79,766,000 after acquiring an additional 563,290 shares during the period. Victory Capital Management Inc. lifted its position in Perficient by 12.6% during the third quarter. Victory Capital Management Inc. now owns 1,161,771 shares of the digital transformation consultancy’s stock worth $67,220,000 after acquiring an additional 130,099 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Perficient during the third quarter worth approximately $32,578,000. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Perficient by 56.0% during the third quarter. Lord Abbett & CO. LLC now owns 466,158 shares of the digital transformation consultancy’s stock worth $26,972,000 after acquiring an additional 167,266 shares during the period. Institutional investors own 95.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PRFT shares. Alliance Global Partners raised Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a report on Tuesday, April 23rd. Scotiabank reduced their target price on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Guggenheim began coverage on shares of Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $77.00 target price on shares of Perficient in a report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.67.

Insider Activity

In related news, CFO Paul E. Martin sold 3,664 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $246,440.64. Following the completion of the sale, the chief financial officer now directly owns 212,642 shares in the company, valued at approximately $14,302,300.92. The sale was disclosed in a filing with the SEC, which is available through this link. In other Perficient news, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $246,440.64. Following the transaction, the chief financial officer now owns 212,642 shares in the company, valued at $14,302,300.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the transaction, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,149 shares of company stock worth $885,619. Insiders own 2.50% of the company’s stock.

Perficient Trading Up 0.7 %

Shares of Perficient stock opened at $42.99 on Friday. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. Perficient, Inc. has a 12-month low of $42.51 and a 12-month high of $96.93. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.05 and a beta of 1.43. The firm’s 50-day moving average price is $56.90 and its two-hundred day moving average price is $61.67.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The firm had revenue of $220.79 million for the quarter, compared to the consensus estimate of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. On average, analysts forecast that Perficient, Inc. will post 3.42 earnings per share for the current fiscal year.

About Perficient

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.