Trexquant Investment LP purchased a new stake in shares of Perficient, Inc. (NASDAQ:PRFT) during the third quarter, Holdings Channel reports. The firm purchased 12,922 shares of the digital transformation consultancy’s stock, valued at approximately $344,000.
Several other hedge funds have also recently added to or reduced their stakes in PRFT. Advisors Asset Management Inc. grew its position in Perficient by 2,633.4% during the second quarter. Advisors Asset Management Inc. now owns 221,488 shares of the digital transformation consultancy’s stock valued at $114,000 after purchasing an additional 213,385 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in Perficient during the second quarter valued at approximately $179,000. Engineers Gate Manager LP purchased a new position in Perficient during the third quarter valued at approximately $205,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Perficient during the third quarter valued at approximately $221,000. Finally, Aperio Group LLC purchased a new position in Perficient during the second quarter valued at approximately $243,000. Institutional investors and hedge funds own 86.29% of the company’s stock.
PRFT stock opened at $23.71 on Friday. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $813.95 million, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 1.86 and a beta of 0.80. Perficient, Inc. has a 12 month low of $18.23 and a 12 month high of $31.09.
A number of research analysts recently commented on the stock. BidaskClub downgraded shares of Perficient from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Barrington Research assumed coverage on shares of Perficient in a research report on Wednesday, October 10th. They set an “outperform” rating and a $31.00 price objective on the stock. SunTrust Banks boosted their price objective on shares of Perficient to $33.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Zacks Investment Research raised shares of Perficient from a “sell” rating to a “hold” rating in a research report on Thursday, November 29th. Finally, Jefferies Financial Group assumed coverage on shares of Perficient in a research report on Tuesday, November 20th. They set a “buy” rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Perficient presently has a consensus rating of “Buy” and an average price target of $30.83.
In other Perficient news, Director James R. Kackley bought 1,000 shares of the firm’s stock in a transaction on Tuesday, November 13th. The stock was bought at an average cost of $25.16 per share, with a total value of $25,160.00. Following the completion of the transaction, the director now directly owns 41,019 shares of the company’s stock, valued at approximately $1,032,038.04. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.70% of the company’s stock.
Perficient Company Profile
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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