Perficient, Inc. (NASDAQ:PRFT) Shares Sold by abrdn plc

abrdn plc lowered its stake in Perficient, Inc. (NASDAQ:PRFT - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 389,429 shares of the digital transformation consultancy's stock after selling 55,749 shares during the quarter. abrdn plc owned about 1.12% of Perficient worth $25,632,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. NBC Securities Inc. bought a new position in Perficient during the 3rd quarter worth about $38,000. Park Place Capital Corp bought a new position in Perficient during the 3rd quarter worth about $69,000. Huntington National Bank increased its holdings in Perficient by 10.5% during the 3rd quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy's stock worth $130,000 after purchasing an additional 213 shares in the last quarter. Covenant Partners LLC bought a new position in Perficient during the 3rd quarter worth about $200,000. Finally, Park Avenue Securities LLC bought a new position in Perficient during the 3rd quarter worth about $210,000. Institutional investors own 95.00% of the company's stock.

Perficient Price Performance

Shares of NASDAQ PRFT traded down $0.39 during midday trading on Wednesday, reaching $45.09. The company's stock had a trading volume of 446,938 shares, compared to its average volume of 226,113. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15. Perficient, Inc. has a fifty-two week low of $43.39 and a fifty-two week high of $96.93. The business's 50 day moving average price is $58.51 and its two-hundred day moving average price is $62.05. The company has a market cap of $1.58 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.10 and a beta of 1.43.

Perficient (NASDAQ:PRFT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The digital transformation consultancy reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). Perficient had a net margin of 10.91% and a return on equity of 23.39%. The firm had revenue of $220.79 million for the quarter, compared to analyst estimates of $223.79 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. On average, analysts forecast that Perficient, Inc. will post 3.42 EPS for the current fiscal year.

Analysts Set New Price Targets

PRFT has been the subject of several analyst reports. Alliance Global Partners upgraded Perficient from a "neutral" rating to a "buy" rating and set a $67.00 price objective for the company in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on Perficient from $68.00 to $71.00 and gave the company a "neutral" rating in a report on Wednesday, February 28th. 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. Guggenheim started coverage on Perficient in a report on Tuesday, March 19th. They issued a "neutral" rating and a $65.00 price objective for the company. Finally, Barrington Research reiterated an "outperform" rating and issued a $77.00 target price on shares of Perficient in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $69.67.

Insider Buying and Selling at Perficient

In other news, CEO Thomas J. Hogan sold 8,801 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Perficient news, CFO Paul E. Martin sold 3,664 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $246,440.64. Following the sale, the chief financial officer now owns 212,642 shares of the company's stock, valued at $14,302,300.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $591,955.26. Following the sale, the chief executive officer now directly owns 193,304 shares in the company, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. Insiders sold a total of 13,149 shares of company stock worth $885,619 over the last three months. Corporate insiders own 2.50% of the company's stock.

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.