Perficient, Inc. (NASDAQ:PRFT) Holdings Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,188 shares of the digital transformation consultancy’s stock after selling 977 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of Perficient worth $2,183,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PRFT. Vanguard Group Inc. lifted its position in shares of Perficient by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock worth $244,380,000 after buying an additional 50,313 shares during the last quarter. Wellington Management Group LLP raised its stake in Perficient by 26.2% during the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock worth $128,064,000 after acquiring an additional 404,154 shares during the period. Congress Asset Management Co. MA lifted its holdings in Perficient by 5.3% in the first quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock worth $78,871,000 after acquiring an additional 71,004 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in Perficient by 1.7% in the first quarter. Lord Abbett & CO. LLC now owns 468,466 shares of the digital transformation consultancy’s stock worth $26,370,000 after acquiring an additional 7,931 shares during the last quarter. Finally, Alpine Associates Management Inc. acquired a new position in Perficient in the second quarter valued at approximately $32,541,000. Institutional investors and hedge funds own 95.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Perficient Stock Performance

PRFT opened at $75.96 on Wednesday. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $75.27 and its 200-day moving average is $68.87. The stock has a market cap of $2.67 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 1.96 and a beta of 1.64. Perficient, Inc. has a twelve month low of $42.51 and a twelve month high of $76.01.

Perficient (NASDAQ:PRFT) last announced its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.01). Perficient had a net margin of 8.48% and a return on equity of 18.39%. The business had revenue of $222.82 million for the quarter, compared to the consensus estimate of $223.58 million. On average, analysts predict that Perficient, Inc. will post 3.21 earnings per share for the current year.

Perficient 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.