TD Asset Management Inc. Sells 43,200 Shares of Perficient, Inc. (NASDAQ:PRFT)

TD Asset Management Inc. cut its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 66.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,800 shares of the digital transformation consultancy’s stock after selling 43,200 shares during the quarter. TD Asset Management Inc. owned 0.07% of Perficient worth $597,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Investment Counselors of Maryland LLC raised its position in Perficient by 2.4% during the fourth quarter. Investment Counselors of Maryland LLC now owns 1,040,875 shares of the digital transformation consultancy’s stock valued at $23,170,000 after acquiring an additional 24,100 shares in the last quarter. JPMorgan Chase & Co. raised its position in Perficient by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 872,921 shares of the digital transformation consultancy’s stock valued at $23,909,000 after acquiring an additional 60,643 shares in the last quarter. Norges Bank acquired a new position in Perficient during the fourth quarter valued at approximately $18,432,000. Moneta Group Investment Advisors LLC acquired a new position in Perficient during the fourth quarter valued at approximately $16,247,000. Finally, ClariVest Asset Management LLC grew its holdings in Perficient by 33.5% during the fourth quarter. ClariVest Asset Management LLC now owns 426,216 shares of the digital transformation consultancy’s stock valued at $9,487,000 after purchasing an additional 106,923 shares during the last quarter. 88.32% of the stock is owned by institutional investors.

Several equities analysts have commented on the company. Nomura assumed coverage on Perficient in a report on Friday, June 21st. They set a “buy” rating and a $40.00 price target on the stock. BidaskClub upgraded shares of Perficient from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th. Zacks Investment Research upgraded shares of Perficient from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective on the stock in a research note on Saturday, May 11th. Finally, Maxim Group set a $41.00 price objective on shares of Perficient and gave the stock a “buy” rating in a research note on Friday, May 31st. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Perficient currently has an average rating of “Buy” and an average price target of $34.57.

In related news, CEO Jeffrey S. Davis sold 900 shares of Perficient stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $29.62, for a total value of $26,658.00. Following the completion of the sale, the chief executive officer now directly owns 532,389 shares in the company, valued at $15,769,362.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Paul E. Martin sold 25,000 shares of Perficient stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $30.88, for a total value of $772,000.00. Following the completion of the sale, the chief financial officer now owns 172,674 shares of the company’s stock, valued at $5,332,173.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,196 shares of company stock valued at $3,181,205. Corporate insiders own 2.90% of the company’s stock.

Shares of NASDAQ PRFT traded up $0.03 during midday trading on Monday, reaching $34.35. 225,081 shares of the company traded hands, compared to its average volume of 278,102. The business’s 50-day moving average price is $31.95. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.39. Perficient, Inc. has a 12 month low of $20.92 and a 12 month high of $35.99. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 2.20 and a beta of 0.91.

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

Perficient Company 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.

Further Reading: Forex

Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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