New York State Teachers Retirement System Sells 223 Shares of Perficient, Inc. (NASDAQ:PRFT)

New York State Teachers Retirement System trimmed its stake in shares of Perficient, Inc. (NASDAQ:PRFT) by 0.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 54,278 shares of the digital transformation consultancy’s stock after selling 223 shares during the quarter. New York State Teachers Retirement System’s holdings in Perficient were worth $3,573,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PRFT. US Bancorp DE grew its position in shares of Perficient by 22.2% in the 1st quarter. US Bancorp DE now owns 2,282 shares of the digital transformation consultancy’s stock worth $251,000 after buying an additional 415 shares during the last quarter. Natixis Advisors L.P. bought a new stake in shares of Perficient in the 1st quarter worth approximately $1,742,000. Bank of Montreal Can grew its position in shares of Perficient by 7.1% in the 1st quarter. Bank of Montreal Can now owns 24,675 shares of the digital transformation consultancy’s stock worth $2,830,000 after buying an additional 1,639 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Perficient by 56.4% in the 1st quarter. MetLife Investment Management LLC now owns 17,325 shares of the digital transformation consultancy’s stock worth $1,907,000 after buying an additional 6,246 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Perficient by 9.9% in the 1st quarter. Panagora Asset Management Inc. now owns 15,272 shares of the digital transformation consultancy’s stock worth $1,681,000 after buying an additional 1,372 shares during the last quarter. 95.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PRFT. Barrington Research reiterated an “outperform” rating and issued a $77.00 price objective on shares of Perficient in a research report on Wednesday, February 28th. Guggenheim started coverage on Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target on the stock. Scotiabank reduced their price target on Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their price target on Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Perficient presently has an average rating of “Hold” and a consensus target price of $70.00.

Perficient Trading Down 4.5 %

Perficient stock opened at $49.34 on Monday. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The business’s fifty day simple moving average is $61.97 and its two-hundred day simple moving average is $62.70. Perficient, Inc. has a 12 month low of $48.93 and a 12 month high of $96.93. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last released its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). Perficient had a return on equity of 23.39% and a net margin of 10.91%. The company had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. During the same period last year, the firm posted $0.98 earnings per share. The company’s revenue was down 5.1% compared to the same quarter last year. As a group, equities analysts predict that Perficient, Inc. will post 3.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $591,955.26. Following the sale, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Paul E. Martin sold 3,664 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $246,440.64. Following the transaction, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at $14,302,300.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $591,955.26. Following the transaction, the chief executive officer now directly owns 193,304 shares in the company, valued at $13,001,627.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,149 shares of company stock valued at $885,619. 2.50% of the stock is currently owned by corporate insiders.

Perficient Profile

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, 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 portfolios.