Piedmont Investment Advisors Inc. Acquires Shares of 8,447 Perficient, Inc. (NASDAQ:PRFT)

Piedmont Investment Advisors Inc. bought a new position in Perficient, Inc. (NASDAQ:PRFT) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,447 shares of the digital transformation consultancy’s stock, valued at approximately $231,000.

Other hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in shares of Perficient by 51.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,238 shares of the digital transformation consultancy’s stock valued at $28,000 after buying an additional 421 shares during the last quarter. Quantamental Technologies LLC bought a new position in shares of Perficient during the first quarter valued at approximately $40,000. Investors Research Corp bought a new position in shares of Perficient during the first quarter valued at approximately $101,000. BNP Paribas Arbitrage SA grew its stake in shares of Perficient by 364.5% during the first quarter. BNP Paribas Arbitrage SA now owns 6,731 shares of the digital transformation consultancy’s stock valued at $184,000 after buying an additional 5,282 shares during the last quarter. Finally, LS Investment Advisors LLC grew its stake in shares of Perficient by 581.9% during the fourth quarter. LS Investment Advisors LLC now owns 7,099 shares of the digital transformation consultancy’s stock valued at $158,000 after buying an additional 6,058 shares during the last quarter. 88.32% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:PRFT traded up $0.71 during trading hours on Friday, reaching $34.32. 175,457 shares of the stock were exchanged, compared to its average volume of 278,137. Perficient, Inc. has a twelve month low of $20.92 and a twelve month high of $35.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.82 and a quick ratio of 2.82. The stock has a market cap of $1.13 billion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 2.13 and a beta of 0.87. The stock has a 50-day simple moving average of $31.95.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, May 2nd. The digital transformation consultancy reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.12. Perficient had a net margin of 5.21% and a return on equity of 11.50%. The firm had revenue of $133.82 million during the quarter, compared to the consensus estimate of $131.10 million. During the same quarter last year, the firm earned $0.35 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts forecast that Perficient, Inc. will post 1.45 earnings per share for the current fiscal year.

A number of research analysts have recently commented on the company. Zacks Investment Research cut Perficient from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Nomura assumed coverage on Perficient in a report on Friday, June 21st. They issued a “buy” rating and a $40.00 price target for the company. BidaskClub upgraded Perficient from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. Finally, Maxim Group restated a “buy” rating and set a $37.00 target price on shares of Perficient in a research note on Wednesday, April 24th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $34.57.

In other Perficient news, CFO Paul E. Martin sold 25,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $30.88, for a total value of $772,000.00. Following the transaction, the chief financial officer now owns 172,674 shares in the company, valued at approximately $5,332,173.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey S. Davis sold 900 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $29.62, for a total transaction of $26,658.00. Following the sale, the chief executive officer now directly owns 532,389 shares of the company’s stock, valued at approximately $15,769,362.18. The disclosure for this sale can be found here. Insiders sold a total of 104,196 shares of company stock valued at $3,181,205 over the last ninety days. 2.90% of the stock is owned by corporate insiders.

Perficient 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, 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.

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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