Royce & Associates LP Makes New $287,000 Investment in Perficient, Inc. (NASDAQ:PRFT)

Royce & Associates LP bought a new stake in Perficient, Inc. (NASDAQ:PRFT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,471 shares of the digital transformation consultancy’s stock, valued at approximately $287,000.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its position in Perficient by 51.5% in 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 in the last quarter. Quantamental Technologies LLC acquired a new position in shares of Perficient during the first quarter worth $40,000. Investors Research Corp acquired a new position in shares of Perficient during the first quarter worth $101,000. BNP Paribas Arbitrage SA lifted its holdings 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 worth $184,000 after purchasing an additional 5,282 shares during the period. Finally, LS Investment Advisors LLC lifted its holdings 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 worth $158,000 after purchasing an additional 6,058 shares during the period. Hedge funds and other institutional investors own 88.32% of the company’s stock.

PRFT traded up $0.03 during midday trading on Monday, hitting $34.35. The company had a trading volume of 225,081 shares, compared to its average volume of 278,102. Perficient, Inc. has a 52 week low of $20.92 and a 52 week high of $35.99. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.13 billion, a P/E ratio of 28.39, a price-to-earnings-growth ratio of 2.20 and a beta of 0.91. The stock’s 50 day simple moving average is $32.15.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Thursday, May 2nd. The digital transformation consultancy reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $131.10 million. During the same period last year, the company earned $0.35 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. Sell-side analysts forecast that Perficient, Inc. will post 1.45 EPS for the current fiscal year.

A number of equities analysts recently weighed in on PRFT shares. Zacks Investment Research raised shares of Perficient from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday, March 5th. Nomura started coverage on shares of Perficient in a research note on Friday, June 21st. They set a “buy” rating and a $40.00 target price for the company. BidaskClub raised shares of Perficient from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Finally, Maxim Group set a $41.00 target price on shares of Perficient and gave the stock a “buy” rating in a research note on Friday, May 31st. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $34.57.

In related news, Chairman Jeffrey S. Davis sold 78,296 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $30.43, for a total transaction of $2,382,547.28. Following the transaction, the chairman now directly owns 532,389 shares in the company, valued at $16,200,597.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the transaction, the chief executive officer now owns 532,389 shares in the company, valued at $15,769,362.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,196 shares of company stock worth $3,181,205. 2.90% of the stock is owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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