Anchor Capital Advisors LLC Acquires 2,903 Shares of Perficient, Inc. (NASDAQ:PRFT)

Anchor Capital Advisors LLC grew its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 18.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,689 shares of the digital transformation consultancy’s stock after buying an additional 2,903 shares during the quarter. Anchor Capital Advisors LLC owned 0.05% of Perficient worth $1,230,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intrust Bank NA grew its holdings in Perficient by 41.0% during the fourth quarter. Intrust Bank NA now owns 5,873 shares of the digital transformation consultancy’s stock worth $387,000 after buying an additional 1,707 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Perficient in the fourth quarter valued at about $28,000. Linden Thomas Advisory Services LLC purchased a new stake in shares of Perficient in the fourth quarter valued at about $253,000. Cetera Trust Company N.A bought a new position in shares of Perficient during the fourth quarter valued at about $161,000. Finally, Handelsbanken Fonder AB grew its position in Perficient by 3.8% in the 4th quarter. Handelsbanken Fonder AB now owns 5,412 shares of the digital transformation consultancy’s stock worth $356,000 after purchasing an additional 200 shares in the last quarter. 95.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the transaction, the senior vice president now owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the transaction, the chief executive officer now directly owns 193,304 shares in the company, valued at $13,001,627.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total value of $47,223.36. Following the completion of the sale, the senior vice president now directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,149 shares of company stock valued at $885,619. 2.50% of the stock is owned by insiders.

Perficient Stock Performance

PRFT traded up $4.07 during trading hours on Tuesday, hitting $47.53. The stock had a trading volume of 813,012 shares, compared to its average volume of 242,903. The company’s fifty day simple moving average is $56.36 and its 200 day simple moving average is $61.57. Perficient, Inc. has a 1 year low of $42.51 and a 1 year high of $96.93. The stock has a market cap of $1.67 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75.

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barrington Research reissued an “outperform” rating and set a $77.00 target price on shares of Perficient in a research report on Monday. Guggenheim began coverage on Perficient in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Alliance Global Partners raised Perficient from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Tuesday, April 23rd. Finally, Scotiabank decreased their target price on Perficient from $65.00 to $50.00 and set a “sector perform” rating for the company in a research report on Monday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.17.

About Perficient

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.