Victory Capital Management Inc. Cuts Stake in Perficient, Inc. (NASDAQ:PRFT)

Victory Capital Management Inc. lowered its position in Perficient, Inc. (NASDAQ:PRFT - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,135,801 shares of the digital transformation consultancy's stock after selling 25,970 shares during the period. Victory Capital Management Inc. owned approximately 3.27% of Perficient worth $74,758,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in shares of Perficient in the fourth quarter valued at $28,000. NBC Securities Inc. acquired a new position in Perficient in the 3rd quarter valued at $38,000. Huntington National Bank lifted its stake in shares of 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 during the period. Cetera Trust Company N.A purchased a new position in shares of Perficient during the 4th quarter worth $161,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Perficient during the fourth quarter worth $212,000. 95.00% of the stock is owned by hedge funds and other institutional investors.

Perficient Stock Down 1.5 %

Shares of PRFT traded down $0.74 during trading on Friday, reaching $48.11. The company's stock had a trading volume of 675,055 shares, compared to its average volume of 487,744. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average of $54.70 and a two-hundred day moving average of $61.24. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 1.19 and a beta of 1.46. Perficient, Inc. has a twelve month low of $42.51 and a twelve 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 for the quarter, missing the consensus estimate of $1.01 by ($0.02). The company had revenue of $220.79 million during 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 period in the previous year, the firm posted $0.98 EPS. On average, sell-side analysts predict that Perficient, Inc. will post 3.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on PRFT. Alliance Global Partners raised shares of Perficient from a "neutral" rating to a "buy" rating and set a $67.00 price objective for the company in a research note on Tuesday, April 23rd. Barrington Research reaffirmed an "outperform" rating and set a $77.00 price target on shares of Perficient in a research note on Monday, April 29th. JPMorgan Chase & Co. lowered their price objective on shares of Perficient from $71.00 to $59.00 and set a "neutral" rating for the company in a research note on Thursday. Guggenheim assumed coverage on Perficient in a research report on Tuesday, March 19th. They issued a "neutral" rating and a $65.00 target price on the stock. Finally, Scotiabank lowered their price target on Perficient from $65.00 to $50.00 and set a "sector perform" rating for the company in a research report on Monday, April 29th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $65.17.

Insider Activity

In other Perficient news, CFO Paul E. Martin sold 3,664 shares of the business's stock in a transaction dated 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 directly owns 212,642 shares in the company, valued at approximately $14,302,300.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $246,440.64. Following the transaction, the chief financial officer now owns 212,642 shares of the company's stock, valued at approximately $14,302,300.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $591,955.26. Following the sale, 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. Over the last ninety days, insiders have sold 13,149 shares of company stock valued at $885,619. Company 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.