Values First Advisors Inc. Raises Stock Position in Perficient, Inc. (NASDAQ:PRFT)

Values First Advisors Inc. grew its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,380 shares of the digital transformation consultancy’s stock after purchasing an additional 314 shares during the period. Values First Advisors Inc.’s holdings in Perficient were worth $288,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in Perficient by 1.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 13,795 shares of the digital transformation consultancy’s stock worth $963,000 after acquiring an additional 163 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Perficient by 1.8% during the third quarter. Arizona State Retirement System now owns 9,919 shares of the digital transformation consultancy’s stock valued at $574,000 after acquiring an additional 175 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Perficient by 2.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,627 shares of the digital transformation consultancy’s stock worth $883,000 after buying an additional 199 shares in the last quarter. State of Tennessee Treasury Department raised its stake in Perficient by 1.2% in the first quarter. State of Tennessee Treasury Department now owns 18,634 shares of the digital transformation consultancy’s stock worth $1,345,000 after buying an additional 212 shares in the last quarter. Finally, Huntington National Bank raised its stake in Perficient by 10.5% in the third quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy’s stock worth $130,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in 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. Guggenheim assumed coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price objective for the company. Scotiabank dropped their price target on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. Finally, Barrington Research reissued an “outperform” rating and issued a $77.00 price target on shares of Perficient in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.00.

Perficient Stock Up 3.4 %

Shares of NASDAQ PRFT traded up $1.83 during mid-day trading on Thursday, reaching $56.29. The company had a trading volume of 465,037 shares, compared to its average volume of 201,779. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The firm has a 50 day simple moving average of $66.07 and a two-hundred day simple moving average of $63.20. The stock has a market cap of $1.97 billion, a P/E ratio of 20.00, a PEG ratio of 1.30 and a beta of 1.45. Perficient, Inc. has a 52-week low of $51.23 and a 52-week high of $96.93.

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

Insider Transactions at Perficient

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Thomas J. Hogan sold 8,801 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the sale, the chief executive officer now directly owns 193,304 shares in the company, valued at $13,001,627.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,149 shares of company stock valued at $885,619. Corporate insiders own 2.50% of the company’s stock.

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.