Perficient, Inc. (NASDAQ:PRFT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in Perficient, Inc. (NASDAQ:PRFT) by 23.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,106 shares of the digital transformation consultancy’s stock after selling 8,077 shares during the quarter. Federated Hermes Inc.’s holdings in Perficient were worth $1,784,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PRFT. NBC Securities Inc. purchased a new position in shares of Perficient in the 3rd quarter valued at $38,000. Huntington National Bank raised its stake in shares of Perficient by 10.5% in the 3rd 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. Covenant Partners LLC purchased a new position in shares of Perficient in the 3rd quarter valued at $200,000. Park Avenue Securities LLC purchased a new position in shares of Perficient in the 3rd quarter valued at $210,000. Finally, Jump Financial LLC purchased a new position in shares of Perficient in the 3rd quarter valued at $213,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Perficient Trading Up 0.7 %

NASDAQ PRFT opened at $42.99 on Monday. Perficient, Inc. has a one year low of $42.51 and a one year high of $96.93. The company has a 50-day simple moving average of $56.90 and a 200-day simple moving average of $61.68. 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 firm has a market capitalization of $1.51 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.05 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 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). The business had revenue of $220.79 million during the quarter, compared to analyst estimates of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. On average, equities analysts forecast that Perficient, Inc. will post 3.42 earnings per share for the current year.

Insider Buying and Selling at Perficient

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the transaction, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 shares were sold at an average price of $69.04, for a total value of $47,223.36. Following the completion of the sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 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 $591,955.26. Following the completion of the sale, 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 13,149 shares of company stock valued at $885,619 in the last ninety days. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Guggenheim initiated coverage on shares of Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Alliance Global Partners raised shares of Perficient from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Tuesday, April 23rd. Barrington Research reissued an “outperform” rating and issued a $77.00 target price on shares of Perficient in a research report on Wednesday, February 28th. Finally, Scotiabank dropped their target price on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $69.67.

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.