Raymond James Financial Services Advisors Inc. Has $874,000 Stake in Perficient, Inc. (NASDAQ:PRFT)

Raymond James Financial Services Advisors Inc. raised its holdings in Perficient, Inc. (NASDAQ:PRFT) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,277 shares of the digital transformation consultancy’s stock after acquiring an additional 326 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Perficient were worth $874,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Perficient in the third quarter valued at about $38,000. Park Place Capital Corp acquired a new position in Perficient in the third quarter valued at about $69,000. Tower Research Capital LLC TRC grew its stake in Perficient by 170.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,159 shares of the digital transformation consultancy’s stock valued at $97,000 after acquiring an additional 731 shares during the period. Lazard Asset Management LLC grew its stake in Perficient by 20.1% in the fourth quarter. Lazard Asset Management LLC now owns 1,506 shares of the digital transformation consultancy’s stock valued at $105,000 after acquiring an additional 252 shares during the period. Finally, Huntington National Bank grew its stake in Perficient by 10.5% in the third quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy’s stock valued at $130,000 after acquiring an additional 213 shares during the period. 95.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on PRFT. Scotiabank dropped their price objective 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. Guggenheim began coverage on Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price objective on the stock. Barrington Research restated an “outperform” rating and issued a $77.00 price objective on shares of Perficient in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their price objective on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Perficient presently has an average rating of “Hold” and a consensus target price of $70.00.

Insider Activity

In other news, SVP Kevin Thomas Sheen sold 684 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total value of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul E. Martin sold 3,664 shares of the 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 sale, the chief financial officer now directly owns 212,642 shares in the company, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,149 shares of company stock valued at $885,619. 2.50% of the stock is owned by insiders.

Perficient Price Performance

Perficient stock opened at $47.43 on Tuesday. Perficient, Inc. has a 12 month low of $47.13 and a 12 month high of $96.93. The stock’s 50 day moving average is $61.54 and its 200-day moving average is $62.63. 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 company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.20 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last posted 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 net margin of 10.91% and a return on equity of 23.39%. The firm had revenue of $220.79 million during the quarter, compared to analyst estimates of $223.79 million. During the same period in the previous year, the company posted $0.98 EPS. Perficient’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities research analysts expect that Perficient, Inc. will post 3.42 EPS for the current year.

About Perficient

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.