Perficient, Inc. (NASDAQ:PRFT) Shares Sold by Ironwood Investment Management LLC

Ironwood Investment Management LLC decreased its position in Perficient, Inc. (NASDAQ:PRFT) by 26.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,929 shares of the digital transformation consultancy’s stock after selling 12,324 shares during the period. Perficient comprises 1.4% of Ironwood Investment Management LLC’s investment portfolio, making the stock its 17th biggest position. Ironwood Investment Management LLC owned approximately 0.10% of Perficient worth $2,538,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in Perficient by 36.8% during the first quarter. BNP Paribas Financial Markets now owns 34,266 shares of the digital transformation consultancy’s stock worth $1,929,000 after buying an additional 9,222 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in Perficient in the first quarter valued at $463,000. Confluence Investment Management LLC purchased a new stake in Perficient in the 1st quarter valued at about $2,886,000. Norden Group LLC lifted its stake in Perficient by 2,123.4% during the first quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy’s stock worth $5,499,000 after purchasing an additional 93,301 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Perficient by 3.8% during the 4th quarter. Schroder Investment Management Group now owns 345,875 shares of the digital transformation consultancy’s stock valued at $22,765,000 after acquiring an additional 12,686 shares during the period. 95.00% of the stock is owned by hedge funds and other institutional investors.

Perficient Stock Down 0.1 %

Shares of Perficient stock opened at $75.48 on Monday. The company has a market capitalization of $2.65 billion, a P/E ratio of 32.26, a P/E/G ratio of 1.96 and a beta of 1.64. The company has a 50 day moving average of $75.24 and a 200 day moving average of $68.66. Perficient, Inc. has a 52-week low of $42.51 and a 52-week high of $75.74. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.70.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). Perficient had a return on equity of 18.39% and a net margin of 8.48%. The company had revenue of $222.82 million for the quarter, compared to analyst estimates of $223.58 million. As a group, research analysts forecast that Perficient, Inc. will post 3.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Perficient in a report on Saturday. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.43.

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.