Granahan Investment Management Inc. MA lifted its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 297,342 shares of the digital transformation consultancy’s stock after acquiring an additional 14,075 shares during the quarter. Granahan Investment Management Inc. MA owned approximately 0.85% of Perficient worth $5,849,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Teachers Advisors LLC grew its stake in Perficient by 3.2% in the first quarter. Teachers Advisors LLC now owns 88,706 shares of the digital transformation consultancy’s stock valued at $1,540,000 after acquiring an additional 2,787 shares during the period. Vanguard Group Inc. grew its stake in Perficient by 6.8% in the first quarter. Vanguard Group Inc. now owns 1,859,259 shares of the digital transformation consultancy’s stock valued at $32,276,000 after acquiring an additional 119,160 shares during the period. Geode Capital Management LLC grew its stake in Perficient by 2.5% in the first quarter. Geode Capital Management LLC now owns 274,378 shares of the digital transformation consultancy’s stock valued at $4,763,000 after acquiring an additional 6,601 shares during the period. Morgan Stanley grew its stake in Perficient by 15.6% in the first quarter. Morgan Stanley now owns 225,480 shares of the digital transformation consultancy’s stock valued at $3,916,000 after acquiring an additional 30,353 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Perficient in the first quarter valued at about $1,824,000. 79.74% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Jeffrey S. Davis sold 39,023 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $20.04, for a total value of $782,020.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Paul E. Martin sold 13,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $19.36, for a total value of $257,488.00. The disclosure for this sale can be found here. Insiders sold 112,022 shares of company stock worth $2,201,082 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.
Shares of Perficient, Inc. (NASDAQ:PRFT) opened at $19.14 on Tuesday. Perficient, Inc. has a twelve month low of $16.20 and a twelve month high of $20.22. The stock has a market capitalization of $661.51, a PE ratio of 21.78 and a beta of 0.83. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.18.
Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Thursday, November 2nd. The digital transformation consultancy reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The firm had revenue of $123.70 million for the quarter, compared to analyst estimates of $127.51 million. Perficient had a return on equity of 8.05% and a net margin of 3.36%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. analysts expect that Perficient, Inc. will post 0.93 EPS for the current fiscal year.
A number of research firms have issued reports on PRFT. Zacks Investment Research cut Perficient from a “buy” rating to a “hold” rating in a research note on Saturday, September 23rd. BidaskClub raised Perficient from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Finally, Maxim Group reaffirmed a “buy” rating and set a $22.00 price objective (up from $20.00) on shares of Perficient in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $21.33.
Perficient Company Profile
Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.
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