Public Employees Retirement System of Ohio Lowers Stock Position in Perficient, Inc. (NASDAQ:PRFT)

Public Employees Retirement System of Ohio cut its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 10.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,996 shares of the digital transformation consultancy’s stock after selling 7,342 shares during the period. Public Employees Retirement System of Ohio owned 0.17% of Perficient worth $3,433,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PRFT. Wellington Management Group LLP grew its position in Perficient by 26.2% in the 4th quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after buying an additional 404,154 shares during the last quarter. Ophir Asset Management Pty Ltd acquired a new stake in Perficient in the fourth quarter valued at $25,474,000. Norges Bank acquired a new stake in Perficient in the fourth quarter valued at $23,950,000. Norden Group LLC lifted its holdings in Perficient by 2,123.4% in the first quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy’s stock valued at $5,499,000 after acquiring an additional 93,301 shares during the period. Finally, Great Lakes Advisors LLC acquired a new stake in Perficient in the fourth quarter valued at $5,978,000. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PRFT shares. Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a research report on Monday, May 6th. Maxim Group reiterated a “hold” rating and issued a $76.00 price objective on shares of Perficient in a research report on Tuesday, May 7th. Alliance Global Partners reiterated a “neutral” rating on shares of Perficient in a research report on Tuesday, May 7th. Scotiabank boosted their price objective on shares of Perficient from $50.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Monday, May 6th. Finally, StockNews.com began coverage on shares of Perficient in a report on Friday, July 26th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, Perficient currently has a consensus rating of “Hold” and an average target price of $70.43.

Perficient Stock Down 0.1 %

PRFT opened at $75.31 on Friday. The company has a market cap of $2.65 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 1.90 and a beta of 1.62. Perficient, Inc. has a 1 year low of $42.51 and a 1 year high of $75.50. The firm has a 50 day moving average price of $74.58 and a 200 day moving average price of $66.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.18 and a current ratio of 4.18.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. The firm had revenue of $215.30 million during the quarter, compared to analysts’ expectations of $224.99 million. Perficient had a return on equity of 19.50% and a net margin of 9.40%. Perficient’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 EPS. Sell-side analysts expect that Perficient, Inc. will post 3.31 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.