Perficient, Inc. (NASDAQ:PRFT) Shares Sold by Park Place Capital Corp

Park Place Capital Corp lowered its position in Perficient, Inc. (NASDAQ:PRFT) by 37.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 737 shares of the digital transformation consultancy’s stock after selling 443 shares during the quarter. Park Place Capital Corp’s holdings in Perficient were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB boosted its position in shares of Perficient by 3.8% during the fourth quarter. Handelsbanken Fonder AB now owns 5,412 shares of the digital transformation consultancy’s stock worth $356,000 after buying an additional 200 shares during the period. Parallel Advisors LLC increased its position in Perficient by 73.9% during the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after buying an additional 224 shares during the last quarter. Comerica Bank grew its position in shares of Perficient by 1.3% in the fourth quarter. Comerica Bank now owns 18,682 shares of the digital transformation consultancy’s stock valued at $1,230,000 after purchasing an additional 235 shares during the last quarter. Covenant Partners LLC lifted its stake in shares of Perficient by 8.2% in the fourth quarter. Covenant Partners LLC now owns 3,742 shares of the digital transformation consultancy’s stock valued at $246,000 after buying an additional 283 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in shares of Perficient by 4.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 7,433 shares of the digital transformation consultancy’s stock valued at $418,000 after buying an additional 300 shares during the period. 95.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PRFT. Alliance Global Partners restated a “neutral” rating on shares of Perficient in a research note on Tuesday, May 7th. William Blair reissued a “market perform” rating on shares of Perficient in a research report on Monday, May 6th. Maxim Group reaffirmed a “hold” rating and issued a $76.00 price objective on shares of Perficient in a research report on Tuesday, May 7th. Barrington Research restated a “market perform” rating on shares of Perficient in a research note on Tuesday, May 7th. Finally, 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 note on Monday, May 6th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.43.

Perficient Stock Down 0.1 %

Shares of PRFT traded down $0.06 during trading hours on Friday, reaching $75.25. 589,237 shares of the stock traded hands, compared to its average volume of 425,869. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $74.65 and a 200 day simple moving average of $66.64. Perficient, Inc. has a 52 week low of $42.51 and a 52 week high of $75.50. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 1.90 and a beta of 1.62.

Perficient (NASDAQ:PRFT) last posted its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. Perficient had a net margin of 9.40% and a return on equity of 19.50%. The firm had revenue of $215.30 million during the quarter, compared to the consensus estimate of $224.99 million. During the same quarter last year, the company earned $0.89 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. On average, equities analysts forecast that Perficient, Inc. will post 3.31 EPS 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.