Cornerstone Investment Partners LLC Decreases Stock Holdings in Perficient, Inc. (NASDAQ:PRFT)

Cornerstone Investment Partners LLC lowered its position in Perficient, Inc. (NASDAQ:PRFT) by 11.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,525 shares of the digital transformation consultancy’s stock after selling 858 shares during the period. Cornerstone Investment Partners LLC’s holdings in Perficient were worth $233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Perficient by 48.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,407 shares of the digital transformation consultancy’s stock valued at $444,000 after acquiring an additional 5,351 shares in the last quarter. Schroder Investment Management Group grew its stake in Perficient by 53.6% during the 1st quarter. Schroder Investment Management Group now owns 638,695 shares of the digital transformation consultancy’s stock worth $17,303,000 after buying an additional 222,905 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Perficient by 431.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 76,546 shares of the digital transformation consultancy’s stock valued at $2,074,000 after buying an additional 62,148 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Perficient by 71.0% in the first quarter. BNP Paribas Arbitrage SA now owns 55,291 shares of the digital transformation consultancy’s stock valued at $1,498,000 after buying an additional 22,948 shares during the last quarter. Finally, CWM LLC boosted its holdings in Perficient by 21.7% in the second quarter. CWM LLC now owns 30,420 shares of the digital transformation consultancy’s stock worth $1,088,000 after acquiring an additional 5,429 shares in the last quarter. Hedge funds and other institutional investors own 91.36% of the company’s stock.

Several equities analysts recently commented on the stock. Maxim Group reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Perficient in a research report on Friday. Alliance Global Partners reaffirmed a “buy” rating and issued a $50.00 price target (up previously from $43.00) on shares of Perficient in a report on Thursday. Needham & Company LLC boosted their price objective on shares of Perficient from $40.00 to $41.00 and gave the company a “buy” rating in a report on Friday, June 19th. BidaskClub raised Perficient from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, National Securities upgraded Perficient from a “neutral” rating to a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Perficient currently has a consensus rating of “Buy” and a consensus target price of $43.33.

NASDAQ:PRFT traded up $0.24 during mid-day trading on Friday, hitting $39.21. The company’s stock had a trading volume of 601,842 shares, compared to its average volume of 279,969. The business’s fifty day moving average is $35.32 and its two-hundred day moving average is $37.74. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 2.10 and a beta of 1.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.64 and a quick ratio of 2.59. Perficient, Inc. has a 1 year low of $18.88 and a 1 year high of $53.76.

Perficient (NASDAQ:PRFT) last issued its earnings results on Thursday, July 30th. The digital transformation consultancy reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The firm had revenue of $146.34 million for the quarter, compared to the consensus estimate of $143.61 million. Perficient had a return on equity of 14.53% and a net margin of 6.39%. Analysts anticipate that Perficient, Inc. will post 1.55 EPS for the current fiscal year.

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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