State of Alaska Department of Revenue Buys 14,032 Shares of Perficient, Inc. (NASDAQ:PRFT)

State of Alaska Department of Revenue raised its stake in Perficient, Inc. (NASDAQ:PRFT) by 125.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,233 shares of the digital transformation consultancy’s stock after acquiring an additional 14,032 shares during the period. State of Alaska Department of Revenue’s holdings in Perficient were worth $973,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Aperio Group LLC boosted its stake in shares of Perficient by 4.7% during the 2nd quarter. Aperio Group LLC now owns 14,166 shares of the digital transformation consultancy’s stock worth $486,000 after purchasing an additional 642 shares during the period. C M Bidwell & Associates Ltd. boosted its stake in shares of Perficient by 20.1% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 4,895 shares of the digital transformation consultancy’s stock worth $168,000 after purchasing an additional 820 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Perficient by 84.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,209 shares of the digital transformation consultancy’s stock worth $76,000 after purchasing an additional 1,014 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Perficient by 187.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,586 shares of the digital transformation consultancy’s stock worth $54,000 after purchasing an additional 1,034 shares during the period. Finally, APG Asset Management N.V. boosted its stake in shares of Perficient by 4.2% during the 2nd quarter. APG Asset Management N.V. now owns 35,100 shares of the digital transformation consultancy’s stock worth $1,058,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 90.95% of the company’s stock.

In other news, Director James R. Kackley sold 7,928 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.55, for a total value of $281,840.40. Following the completion of the sale, the director now owns 33,708 shares in the company, valued at approximately $1,198,319.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Jeffrey S. Davis sold 25,302 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $36.42, for a total transaction of $921,498.84. Following the completion of the sale, the chairman now owns 429,691 shares of the company’s stock, valued at approximately $15,649,346.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,230 shares of company stock valued at $1,564,239. 2.90% of the stock is owned by corporate insiders.

Perficient stock traded down $0.94 during trading hours on Monday, hitting $36.66. The company had a trading volume of 3,952 shares, compared to its average volume of 265,834. The firm has a market cap of $1.22 billion, a P/E ratio of 30.44, a P/E/G ratio of 2.20 and a beta of 0.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.30 and a current ratio of 2.30. Perficient, Inc. has a 1 year low of $20.92 and a 1 year high of $39.74. The company has a 50-day moving average price of $37.46 and a two-hundred day moving average price of $33.43.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Thursday, August 1st. The digital transformation consultancy reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $141.90 million during the quarter, compared to analysts’ expectations of $137.05 million. Perficient had a net margin of 5.52% and a return on equity of 12.31%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. As a group, equities research analysts anticipate that Perficient, Inc. will post 1.58 EPS for the current year.

A number of equities analysts recently commented on PRFT shares. Maxim Group reaffirmed a “buy” rating and set a $41.00 price target on shares of Perficient in a research note on Wednesday, July 24th. BidaskClub raised shares of Perficient from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th. Barrington Research reaffirmed a “buy” rating and set a $44.00 price target on shares of Perficient in a research note on Thursday, September 12th. ValuEngine cut shares of Perficient from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, William Blair initiated coverage on shares of Perficient in a research note on Monday, September 9th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Perficient currently has a consensus rating of “Buy” and a consensus price target of $39.20.

About Perficient

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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