Allspring Global Investments Holdings LLC Increases Stock Position in Perficient, Inc. (NASDAQ:PRFT)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Perficient, Inc. (NASDAQ:PRFTFree Report) by 40.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 250,383 shares of the digital transformation consultancy’s stock after acquiring an additional 72,023 shares during the period. Allspring Global Investments Holdings LLC owned 0.72% of Perficient worth $14,094,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PRFT. Congress Wealth Management LLC DE grew its position in Perficient by 36.6% in the 1st quarter. Congress Wealth Management LLC DE now owns 157,396 shares of the digital transformation consultancy’s stock valued at $8,860,000 after buying an additional 42,194 shares during the last quarter. Park Place Capital Corp grew its position in Perficient by 41.1% in the 1st quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock valued at $66,000 after buying an additional 344 shares during the last quarter. Bridge City Capital LLC grew its position in Perficient by 35.6% in the 1st quarter. Bridge City Capital LLC now owns 34,872 shares of the digital transformation consultancy’s stock valued at $1,963,000 after buying an additional 9,163 shares during the last quarter. Congress Asset Management Co. MA grew its position in Perficient by 5.3% in the 1st quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock valued at $78,871,000 after buying an additional 71,004 shares during the last quarter. Finally, Park Avenue Securities LLC grew its position in Perficient by 9.7% in the 1st quarter. Park Avenue Securities LLC now owns 4,014 shares of the digital transformation consultancy’s stock valued at $226,000 after buying an additional 355 shares during the last quarter. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PRFT shares. StockNews.com started coverage on shares of Perficient in a research report on Tuesday, July 2nd. They issued a “sell” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Perficient in a research report on Monday, May 6th. Alliance Global Partners restated a “neutral” rating on shares of Perficient in a research report on Tuesday, May 7th. Barrington Research restated a “market perform” rating on shares of Perficient in a research report on Tuesday, May 7th. Finally, Guggenheim started coverage on shares of Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price on the stock. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, Perficient has an average rating of “Hold” and an average price target of $70.43.

Get Our Latest Research Report on PRFT

Perficient Trading Down 0.1 %

NASDAQ:PRFT opened at $74.85 on Monday. The company has a market capitalization of $2.63 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 1.97 and a beta of 1.62. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.72. Perficient, Inc. has a 52-week low of $42.51 and a 52-week high of $96.93. The stock has a fifty day simple moving average of $71.40 and a 200-day simple moving average of $65.27.

Perficient (NASDAQ:PRFTGet Free Report) last released its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $215.30 million during the quarter, compared to the consensus estimate of $224.99 million. Perficient had a return on equity of 19.50% and a net margin of 9.40%. The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 EPS. On average, equities research analysts expect that Perficient, Inc. will post 3.16 earnings per share for the current fiscal year.

Perficient Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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