Vanguard Group Inc. Acquires 158,842 Shares of Perficient, Inc. (NASDAQ:PRFT)

Vanguard Group Inc. boosted its position in shares of Perficient, Inc. (NASDAQ:PRFT - Free Report) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,316,958 shares of the digital transformation consultancy's stock after purchasing an additional 158,842 shares during the period. Vanguard Group Inc. owned 12.42% of Perficient worth $249,779,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC lifted its position in shares of Perficient by 112,600.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,011,600 shares of the digital transformation consultancy's stock worth $838,770,000 after purchasing an additional 12,000,942 shares during the last quarter. Congress Asset Management Co. MA lifted its stake in shares of Perficient by 69.1% in the 3rd 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 lifted its stake in shares of Perficient by 5.9% in the 1st 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. Victory Capital Management Inc. lifted its stake in shares of Perficient by 12.6% in the 3rd 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. Finally, State Street Corp lifted its stake in shares of Perficient by 2.1% in the 3rd quarter. State Street Corp now owns 1,126,049 shares of the digital transformation consultancy's stock valued at $73,216,000 after purchasing an additional 22,950 shares during the period. Institutional investors and hedge funds own 95.00% of the company's stock.

Analyst Upgrades and Downgrades

PRFT has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Perficient from $68.00 to $71.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Scotiabank lowered their price objective on shares of Perficient from $70.00 to $65.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 28th. Guggenheim assumed coverage on shares of Perficient in a research report on Tuesday, March 19th. They issued a "neutral" rating and a $65.00 price objective for the company. Finally, Barrington Research restated an "outperform" rating and issued a $77.00 price objective on shares of Perficient in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Perficient has an average rating of "Hold" and a consensus target price of $70.00.

Perficient Stock Up 3.4 %

PRFT stock traded up $1.83 during trading hours on Friday, reaching $56.29. 465,037 shares of the stock were exchanged, compared to its average volume of 264,704. The firm's 50-day moving average is $65.55 and its 200-day moving average is $63.15. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.37 and a beta of 1.45. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15. Perficient, Inc. has a 12 month low of $51.23 and a 12 month high of $96.93.

Perficient (NASDAQ:PRFT - Get Free Report) last released its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.02). The firm had revenue of $220.79 million for 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%. Perficient's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. On average, equities research analysts expect that Perficient, Inc. will post 3.43 earnings per share for the current year.

Insiders Place Their Bets

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

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.