17,400 Shares in Perficient, Inc. (NASDAQ:PRFT) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of Perficient, Inc. (NASDAQ:PRFT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,400 shares of the digital transformation consultancy’s stock, valued at approximately $1,145,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Congress Asset Management Co. MA lifted its holdings in Perficient by 69.1% during the 3rd quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy’s stock worth $79,766,000 after buying an additional 563,290 shares during the period. William Blair Investment Management LLC acquired a new position in Perficient during the 3rd quarter worth about $32,578,000. Lord Abbett & CO. LLC lifted its holdings in Perficient by 56.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 466,158 shares of the digital transformation consultancy’s stock worth $26,972,000 after buying an additional 167,266 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Perficient by 6,104.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 162,010 shares of the digital transformation consultancy’s stock worth $9,374,000 after buying an additional 159,399 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Perficient by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,316,958 shares of the digital transformation consultancy’s stock worth $249,779,000 after buying an additional 158,842 shares during the period. Institutional investors own 95.00% of the company’s stock.

Perficient Stock Up 0.8 %

PRFT stock opened at $45.48 on Wednesday. The stock’s 50 day simple moving average is $58.51 and its 200 day simple moving average is $62.05. Perficient, Inc. has a fifty-two week low of $43.39 and a fifty-two week high of $96.93. 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 company has a market cap of $1.60 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 1.09 and a beta of 1.43.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Scotiabank cut their target price on Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Guggenheim assumed 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. JPMorgan Chase & Co. boosted 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. Barrington Research reissued an “outperform” rating and issued a $77.00 price objective on shares of Perficient in a research note on Wednesday, February 28th. Finally, Alliance Global Partners raised Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.67.

Insider Buying and Selling

In related 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 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 approximately $14,302,300.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Perficient news, CFO Paul E. Martin sold 3,664 shares of the business’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 transaction of $246,440.64. Following the completion of the sale, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the business’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 sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,149 shares of company stock valued at $885,619. 2.50% of the stock is owned by company insiders.

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.