Allspring Global Investments Holdings LLC Acquires 16,350 Shares of Perficient, Inc. (NASDAQ:PRFT)

Allspring Global Investments Holdings LLC raised its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,360 shares of the digital transformation consultancy’s stock after purchasing an additional 16,350 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Perficient were worth $11,740,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its stake in shares of Perficient by 112,600.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 12,011,600 shares of the digital transformation consultancy’s stock worth $838,770,000 after acquiring an additional 12,000,942 shares during the last quarter. Congress Asset Management Co. MA increased its position in shares of Perficient by 69.1% during the third quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy’s stock valued at $79,766,000 after acquiring an additional 563,290 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Perficient in the 3rd quarter worth approximately $32,578,000. Norges Bank bought a new position in Perficient in the 4th quarter valued at approximately $26,728,000. Finally, Blue Grotto Capital LLC boosted its stake in Perficient by 124.7% during the 1st quarter. Blue Grotto Capital LLC now owns 359,879 shares of the digital transformation consultancy’s stock valued at $39,619,000 after purchasing an additional 199,689 shares during the last quarter. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Perficient Price Performance

Shares of Perficient stock opened at $47.43 on Tuesday. The stock has a market cap of $1.66 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.20 and a beta of 1.43. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15. The stock’s fifty day moving average is $61.54 and its 200 day moving average is $62.63. Perficient, Inc. has a one year low of $47.13 and a one year high of $96.93.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data 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). The company had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. Sell-side analysts anticipate that Perficient, Inc. will post 3.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Perficient Company 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.