Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Perficient, Inc. (NASDAQ:PRFT) by 165.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 51,800 shares of the digital transformation consultancy’s stock after acquiring an additional 32,300 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Perficient were worth $1,380,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in PRFT. BlackRock Inc. raised its position in Perficient by 9.9% in the second quarter. BlackRock Inc. now owns 4,927,517 shares of the digital transformation consultancy’s stock worth $129,937,000 after acquiring an additional 443,431 shares in the last quarter. Rothschild Asset Management Inc. purchased a new position in Perficient in the second quarter worth $8,104,000. KAMES CAPITAL plc purchased a new position in Perficient in the third quarter worth $6,839,000. Systematic Financial Management LP raised its position in Perficient by 388.7% in the second quarter. Systematic Financial Management LP now owns 302,431 shares of the digital transformation consultancy’s stock worth $7,975,000 after acquiring an additional 240,541 shares in the last quarter. Finally, Federated Investors Inc. PA raised its position in Perficient by 77,304.3% in the second quarter. Federated Investors Inc. PA now owns 233,761 shares of the digital transformation consultancy’s stock worth $6,164,000 after acquiring an additional 233,459 shares in the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.
Perficient stock opened at $23.71 on Friday. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $800.68 million, a price-to-earnings ratio of 24.96, a PEG ratio of 1.83 and a beta of 0.80. Perficient, Inc. has a fifty-two week low of $18.23 and a fifty-two week high of $31.09.
Several research firms have weighed in on PRFT. BidaskClub lowered Perficient from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Barrington Research began coverage on Perficient in a report on Wednesday, October 10th. They issued an “outperform” rating and a $31.00 target price on the stock. SunTrust Banks upped their target price on Perficient to $33.00 and gave the company a “buy” rating in a report on Friday, September 14th. Zacks Investment Research raised Perficient from a “sell” rating to a “hold” rating in a report on Thursday, November 29th. Finally, Jefferies Financial Group began coverage on Perficient in a report on Tuesday, November 20th. They issued a “buy” rating and a $30.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Perficient has a consensus rating of “Buy” and a consensus target price of $30.83.
In other news, Director James R. Kackley bought 1,000 shares of the stock in a transaction on Tuesday, November 13th. The shares were bought at an average price of $25.16 per share, with a total value of $25,160.00. Following the completion of the acquisition, the director now owns 41,019 shares of the company’s stock, valued at $1,032,038.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is currently owned by corporate insiders.
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Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.
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