Perficient, Inc. (NASDAQ:PRFT) Shares Acquired by Pinebridge Investments L.P.

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Pinebridge Investments L.P. grew its holdings in Perficient, Inc. (NASDAQ:PRFT) by 164.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,727 shares of the digital transformation consultancy’s stock after buying an additional 22,201 shares during the period. Pinebridge Investments L.P. owned 0.11% of Perficient worth $1,226,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mason Street Advisors LLC grew its holdings in shares of Perficient by 3.4% in the first quarter. Mason Street Advisors LLC now owns 10,654 shares of the digital transformation consultancy’s stock valued at $292,000 after purchasing an additional 349 shares during the period. Rhumbline Advisers boosted its stake in Perficient by 0.5% during the first quarter. Rhumbline Advisers now owns 100,199 shares of the digital transformation consultancy’s stock worth $2,744,000 after buying an additional 475 shares during the period. Aperio Group LLC boosted its stake in Perficient by 4.7% during the second quarter. Aperio Group LLC now owns 14,166 shares of the digital transformation consultancy’s stock worth $486,000 after buying an additional 642 shares during the period. Texas Permanent School Fund boosted its stake in Perficient by 3.7% during the first quarter. Texas Permanent School Fund now owns 22,525 shares of the digital transformation consultancy’s stock worth $617,000 after buying an additional 811 shares during the period. Finally, C M Bidwell & Associates Ltd. boosted its stake in Perficient by 20.1% during the second quarter. C M Bidwell & Associates Ltd. now owns 4,895 shares of the digital transformation consultancy’s stock worth $168,000 after buying an additional 820 shares during the period. 91.19% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on PRFT shares. 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. Maxim Group reaffirmed a “buy” rating and set a $41.00 target price on shares of Perficient in a research note on Wednesday, July 24th. BidaskClub raised shares of Perficient from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th. William Blair started coverage on shares of Perficient in a research note on Monday, September 9th. They set an “outperform” rating for the company. Finally, Barrington Research reaffirmed a “buy” rating and set a $44.00 target price on shares of Perficient in a research note on Thursday, September 12th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Perficient has an average rating of “Buy” and a consensus price target of $39.40.

In other news, Director David S. Lundeen sold 10,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $36.09, for a total transaction of $360,900.00. Following the sale, the director now owns 48,857 shares of the company’s stock, valued at $1,763,249.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Kackley sold 7,928 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $35.55, for a total transaction of $281,840.40. Following the sale, the director now directly owns 33,708 shares in the company, valued at approximately $1,198,319.40. The disclosure for this sale can be found here. Insiders have sold 43,230 shares of company stock worth $1,564,239 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Shares of PRFT traded down $0.08 during mid-day trading on Thursday, hitting $38.14. 5,158 shares of the company’s stock were exchanged, compared to its average volume of 210,390. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 31.89, a P/E/G ratio of 2.27 and a beta of 0.85. Perficient, Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $39.74. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.30 and a current ratio of 2.30. The stock’s 50-day moving average is $36.49 and its 200-day moving average is $32.37.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Thursday, August 1st. The digital transformation consultancy reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. The business had revenue of $141.90 million for the quarter, compared to analysts’ expectations of $137.05 million. Perficient had a net margin of 5.52% and a return on equity of 12.31%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. As a group, equities research analysts anticipate that Perficient, Inc. will post 1.58 EPS for the current year.

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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