3,221 Shares in Perficient, Inc. (NASDAQ:PRFT) Bought by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC acquired a new position in shares of Perficient, Inc. (NASDAQ:PRFT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,221 shares of the digital transformation consultancy’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its stake in shares of Perficient by 112,600.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 12,011,600 shares of the digital transformation consultancy’s stock valued at $838,770,000 after purchasing an additional 12,000,942 shares during the period. Vanguard Group Inc. boosted its stake in shares of Perficient by 3.8% during the third quarter. Vanguard Group Inc. now owns 4,316,958 shares of the digital transformation consultancy’s stock valued at $249,779,000 after purchasing an additional 158,842 shares during the period. Congress Asset Management Co. MA boosted its stake in shares of Perficient by 69.1% during the third quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy’s stock valued at $79,766,000 after purchasing an additional 563,290 shares during the period. Wellington Management Group LLP boosted its stake in shares of Perficient by 5.9% during the first quarter. Wellington Management Group LLP now owns 1,347,413 shares of the digital transformation consultancy’s stock valued at $148,336,000 after purchasing an additional 75,164 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Perficient by 12.6% during the third quarter. Victory Capital Management Inc. now owns 1,161,771 shares of the digital transformation consultancy’s stock valued at $67,220,000 after purchasing an additional 130,099 shares during the period. 95.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRFT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Guggenheim assumed coverage on Perficient in a report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price objective for the company. Scotiabank decreased their price objective on Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Finally, Barrington Research restated an “outperform” rating and issued a $77.00 price objective on shares of Perficient in a report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $70.00.

Insider Activity

In other news, SVP Kevin Thomas Sheen sold 684 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares in the company, valued at $1,831,838.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Kevin Thomas Sheen sold 684 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares in the company, valued at $1,831,838.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Paul E. Martin sold 3,664 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $246,440.64. Following the transaction, the chief financial officer now owns 212,642 shares in the company, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. Insiders have sold a total of 13,149 shares of company stock worth $885,619 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Perficient Stock Performance

Shares of Perficient stock opened at $44.80 on Friday. The company has a market capitalization of $1.57 billion, a PE ratio of 16.23, a P/E/G ratio of 1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15. The company has a 50-day simple moving average of $59.51 and a two-hundred day simple moving average of $62.21. Perficient, Inc. has a one year low of $43.39 and a one year high of $96.93.

Perficient (NASDAQ:PRFT) last announced its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The firm had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Research analysts expect that Perficient, Inc. will post 3.42 EPS for the current fiscal year.

Perficient Company 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.