Russell Investments Group Ltd. Sells 142,533 Shares of Perficient, Inc. (NASDAQ:PRFT)

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Russell Investments Group Ltd. lessened its stake in Perficient, Inc. (NASDAQ:PRFT) by 50.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,089 shares of the digital transformation consultancy’s stock after selling 142,533 shares during the period. Russell Investments Group Ltd.’s holdings in Perficient were worth $5,439,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bowling Portfolio Management LLC purchased a new position in shares of Perficient during the 2nd quarter worth $777,000. Pitcairn Co. purchased a new position in shares of Perficient during the 2nd quarter valued at $301,000. Bank of America Corp DE increased its holdings in Perficient by 126.0% in the 2nd quarter. Bank of America Corp DE now owns 39,106 shares of the digital transformation consultancy’s stock valued at $1,342,000 after acquiring an additional 21,801 shares during the last quarter. Rhumbline Advisers increased its holdings in Perficient by 1.2% in the 3rd quarter. Rhumbline Advisers now owns 101,333 shares of the digital transformation consultancy’s stock valued at $3,909,000 after acquiring an additional 1,202 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Perficient by 192.1% in the 2nd quarter. Morgan Stanley now owns 241,285 shares of the digital transformation consultancy’s stock valued at $8,281,000 after acquiring an additional 158,688 shares during the last quarter. 90.12% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ PRFT opened at $40.55 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.69 and a current ratio of 2.69. The company has a market cap of $1.33 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.14 and a beta of 0.79. The firm’s fifty day moving average is $38.34 and its two-hundred day moving average is $35.26. Perficient, Inc. has a 52-week low of $20.92 and a 52-week high of $41.82.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings results on Thursday, November 7th. The digital transformation consultancy reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. Perficient had a net margin of 5.94% and a return on equity of 13.21%. The company had revenue of $144.68 million for the quarter, compared to the consensus estimate of $143.17 million. During the same period in the previous year, the firm posted $0.41 EPS. Perficient’s revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, analysts forecast that Perficient, Inc. will post 1.62 EPS for the current fiscal year.

PRFT has been the topic of a number of research reports. BidaskClub upgraded shares of Perficient from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Investment Research upgraded shares of Perficient from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Friday, October 4th. ValuEngine downgraded shares of Perficient from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. William Blair initiated coverage on shares of Perficient in a report on Monday, September 9th. They issued an “outperform” rating on the stock. Finally, Barrington Research reiterated a “buy” rating and issued a $44.00 price target on shares of Perficient in a report on Thursday, September 12th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $41.83.

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, commerce, content management, 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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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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