Perficient, Inc. (NASDAQ:PRFT) Stock Position Decreased by Kennedy Capital Management LLC

Kennedy Capital Management LLC lowered its position in Perficient, Inc. (NASDAQ:PRFT) by 56.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,108 shares of the digital transformation consultancy’s stock after selling 71,196 shares during the period. Kennedy Capital Management LLC owned 0.16% of Perficient worth $3,102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRFT. Paloma Partners Management Co bought a new position in shares of Perficient during the 1st quarter valued at $235,000. Mount Yale Investment Advisors LLC increased its holdings in shares of Perficient by 135.7% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 9,965 shares of the digital transformation consultancy’s stock valued at $561,000 after acquiring an additional 5,738 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Perficient in the 1st quarter valued at approximately $224,000. Natixis lifted its holdings in Perficient by 273.9% in the 1st quarter. Natixis now owns 25,050 shares of the digital transformation consultancy’s stock worth $1,410,000 after purchasing an additional 18,350 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in Perficient by 5.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 30,372 shares of the digital transformation consultancy’s stock worth $1,705,000 after purchasing an additional 1,541 shares during the period. Institutional investors own 95.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on PRFT shares. Barrington Research reaffirmed a “market perform” rating on shares of Perficient in a report on Tuesday, May 7th. Scotiabank upped their price target on shares of Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a report on Monday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a research note on Monday, May 6th. William Blair restated a “market perform” rating on shares of Perficient in a research note on Monday, May 6th. Finally, Alliance Global Partners reaffirmed a “neutral” rating on shares of Perficient in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $70.43.

Perficient Stock Performance

Shares of NASDAQ:PRFT remained flat at $75.39 on Wednesday. 80,904 shares of the company’s stock were exchanged, compared to its average volume of 479,478. Perficient, Inc. has a 1 year low of $42.51 and a 1 year high of $75.42. The company’s fifty day moving average price is $74.55 and its two-hundred day moving average price is $66.45. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.65 billion, a P/E ratio of 32.22, a price-to-earnings-growth ratio of 1.98 and a beta of 1.62.

Perficient (NASDAQ:PRFT) last issued 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. Perficient had a return on equity of 19.50% and a net margin of 9.40%. The firm had revenue of $215.30 million during the quarter, compared to the consensus estimate of $224.99 million. During the same period last year, the business posted $0.89 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that Perficient, Inc. will post 3.16 EPS for the current fiscal 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.