Perficient, Inc. (NASDAQ:PRFT) Position Raised by Pinebridge Investments L.P.

Pinebridge Investments L.P. lifted its stake in Perficient, Inc. (NASDAQ:PRFT) by 103.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,074 shares of the digital transformation consultancy’s stock after purchasing an additional 52,845 shares during the period. Pinebridge Investments L.P. owned approximately 0.30% of Perficient worth $1,985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRFT. SG Americas Securities LLC acquired a new stake in shares of Perficient in the third quarter valued at about $118,000. Bank of Montreal Can lifted its stake in shares of Perficient by 3,261.0% in the fourth quarter. Bank of Montreal Can now owns 7,159 shares of the digital transformation consultancy’s stock valued at $136,000 after purchasing an additional 6,946 shares during the period. Simplex Trading LLC lifted its stake in shares of Perficient by 4,251.0% in the third quarter. Simplex Trading LLC now owns 8,702 shares of the digital transformation consultancy’s stock valued at $171,000 after purchasing an additional 8,502 shares during the period. Sei Investments Co. lifted its stake in shares of Perficient by 412.9% in the third quarter. Sei Investments Co. now owns 8,873 shares of the digital transformation consultancy’s stock valued at $175,000 after purchasing an additional 7,143 shares during the period. Finally, KBC Group NV lifted its stake in shares of Perficient by 152.7% in the third quarter. KBC Group NV now owns 10,275 shares of the digital transformation consultancy’s stock valued at $202,000 after purchasing an additional 6,209 shares during the period. Hedge funds and other institutional investors own 82.42% of the company’s stock.

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In other news, Chairman Jeffrey S. Davis sold 43,413 shares of Perficient stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $23.91, for a total transaction of $1,038,004.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul E. Martin sold 18,774 shares of Perficient stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $23.21, for a total transaction of $435,744.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,836 shares of company stock valued at $2,115,017. Insiders own 3.70% of the company’s stock.

PRFT has been the subject of several recent analyst reports. BidaskClub upgraded shares of Perficient from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. Maxim Group restated a “buy” rating and set a $24.00 target price on shares of Perficient in a research report on Friday, February 16th. Zacks Investment Research cut shares of Perficient from a “hold” rating to a “sell” rating in a research report on Wednesday. TheStreet upgraded shares of Perficient from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. Finally, SunTrust Banks lifted their target price on shares of Perficient to $26.00 and gave the stock a “buy” rating in a research report on Monday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $24.00.

Perficient, Inc. (PRFT) opened at $23.71 on Friday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.15. The stock has a market cap of $826.91, a PE ratio of 43.13 and a beta of 0.80. Perficient, Inc. has a 52-week low of $16.20 and a 52-week high of $24.30.

Perficient (NASDAQ:PRFT) last announced its earnings results on Thursday, March 1st. The digital transformation consultancy reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $133.48 million during the quarter, compared to analysts’ expectations of $119.70 million. Perficient had a net margin of 3.83% and a return on equity of 8.90%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. equities analysts expect that Perficient, Inc. will post 1.11 EPS for the current year.

Perficient announced that its board has initiated a share repurchase plan on Thursday, March 1st that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the digital transformation consultancy to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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Perficient Company Profile

Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.

Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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