Aviva PLC Cuts Holdings in Perficient, Inc. (NASDAQ:PRFT)

Aviva PLC lessened its position in shares of Perficient, Inc. (NASDAQ:PRFT – Get Rating) by 36.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,273 shares of the digital transformation consultancy’s stock after selling 8,094 shares during the period. Aviva PLC’s holdings in Perficient were worth $997,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Perficient during the 4th quarter valued at $34,000. Quadrant Capital Group LLC boosted its position in shares of Perficient by 322.4% in the third quarter. Quadrant Capital Group LLC now owns 604 shares of the digital transformation consultancy’s stock worth $39,000 after buying an additional 461 shares during the period. First National Advisers LLC purchased a new stake in shares of Perficient in the third quarter worth about $90,000. Huntington National Bank raised its holdings in shares of Perficient by 41.2% during the 3rd quarter. Huntington National Bank now owns 1,692 shares of the digital transformation consultancy’s stock valued at $110,000 after buying an additional 494 shares during the period. Finally, Advent Capital Management DE acquired a new position in Perficient during the 3rd quarter worth approximately $146,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Thomas J. Hogan sold 9,900 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $72.95, for a total transaction of $722,205.00. Following the completion of the transaction, the chief operating officer now owns 123,952 shares in the company, valued at approximately $9,042,298.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Needham & Company LLC lowered their price objective on shares of Perficient from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, March 1st. StockNews.com began coverage on shares of Perficient in a report on Thursday. They issued a “hold” rating on the stock. TheStreet upgraded Perficient from a “c+” rating to a “b-” rating in a research note on Thursday, March 30th. Morgan Stanley cut their price target on Perficient from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, January 27th. Finally, Barrington Research restated an “outperform” rating and set a $85.00 price objective on shares of Perficient in a research note on Monday, April 17th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Perficient currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Perficient Stock Performance

Shares of PRFT opened at $77.35 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.93 and a quick ratio of 2.93. Perficient, Inc. has a 12-month low of $59.78 and a 12-month high of $110.28. The business’s fifty day moving average price is $69.82 and its 200 day moving average price is $71.41. The stock has a market capitalization of $2.69 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.28 and a beta of 1.56.

Perficient (NASDAQ:PRFT – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The digital transformation consultancy reported $0.98 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.03). Perficient had a net margin of 11.38% and a return on equity of 32.14%. The business had revenue of $232.60 million during the quarter, compared to analyst estimates of $235.73 million. Equities research analysts forecast that Perficient, Inc. will post 4.05 EPS for the current year.

Perficient Profile

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Perficient, Inc engages in the provision of digital consultancy services. Its service categories include strategy and consulting, data and intelligence, platforms and technology, customer experience and digital marketing, innovation, and product development, and optimized global delivery. The company was founded in 1998 and is headquartered in St.