Comerica Bank Cuts Stake in Perficient, Inc. (NASDAQ:PRFT)

Comerica Bank reduced its stake in shares of Perficient, Inc. (NASDAQ:PRFTGet Rating) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,459 shares of the digital transformation consultancy’s stock after selling 3,030 shares during the period. Comerica Bank owned 0.08% of Perficient worth $1,773,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Perficient by 492.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 136,719 shares of the digital transformation consultancy’s stock worth $12,535,000 after purchasing an additional 113,655 shares during the period. Aviva PLC raised its position in shares of Perficient by 194.7% in the 2nd quarter. Aviva PLC now owns 21,120 shares of the digital transformation consultancy’s stock worth $1,936,000 after buying an additional 13,953 shares during the period. State of Alaska Department of Revenue raised its position in shares of Perficient by 14.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 26,213 shares of the digital transformation consultancy’s stock worth $2,403,000 after buying an additional 3,230 shares during the period. First National Bank of Omaha purchased a new position in shares of Perficient in the 2nd quarter worth $1,195,000. Finally, Confluence Investment Management LLC raised its holdings in shares of Perficient by 4.9% in the 3rd quarter. Confluence Investment Management LLC now owns 32,469 shares of the digital transformation consultancy’s stock worth $2,111,000 after purchasing an additional 1,511 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Perficient news, Director David S. Lundeen sold 4,000 shares of Perficient stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $71.42, for a total transaction of $285,680.00. Following the sale, the director now directly owns 34,412 shares in the company, valued at approximately $2,457,705.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ralph C. Derrickson acquired 729 shares of the stock in a transaction that occurred on Monday, November 21st. The stock was purchased at an average cost of $68.66 per share, with a total value of $50,053.14. Following the completion of the acquisition, the director now directly owns 39,101 shares in the company, valued at $2,684,674.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David S. Lundeen sold 4,000 shares of the business’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $71.42, for a total value of $285,680.00. Following the completion of the sale, the director now directly owns 34,412 shares of the company’s stock, valued at $2,457,705.04. The disclosure for this sale can be found here. Insiders have acquired 1,041 shares of company stock worth $70,542 in the last three months. 2.20% of the stock is owned by insiders.

Perficient Stock Performance

Perficient stock opened at $74.47 on Friday. Perficient, Inc. has a 12-month low of $59.78 and a 12-month high of $116.44. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 1.05 and a beta of 1.50. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.16 and a quick ratio of 2.16. The firm’s fifty day moving average price is $71.21 and its 200 day moving average price is $75.67.

Perficient (NASDAQ:PRFTGet Rating) last announced its earnings results on Thursday, October 27th. The digital transformation consultancy reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.02). Perficient had a return on equity of 33.82% and a net margin of 9.29%. The business had revenue of $227.61 million for the quarter, compared to analysts’ expectations of $230.60 million. On average, research analysts forecast that Perficient, Inc. will post 3.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PRFT has been the topic of a number of research reports. StockNews.com assumed coverage on Perficient in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley cut their price target on shares of Perficient from $100.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, October 28th. Needham & Company LLC cut their target price on shares of Perficient from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, October 27th. Barrington Research cut their target price on shares of Perficient from $110.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Finally, TheStreet lowered Perficient from a “b-” rating to a “c+” rating in a research report on Tuesday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Perficient presently has an average rating of “Moderate Buy” and a consensus target price of $91.38.

Perficient Profile

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Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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