California State Teachers Retirement System cut its position in shares of Perficient Inc. (NASDAQ:PRFT) by 1.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 73,859 shares of the company’s stock after selling 1,200 shares during the period. California State Teachers Retirement System owned approximately 0.20% of Perficient worth $1,500,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Kennedy Capital Management Inc. boosted its stake in Perficient by 22.0% in the first quarter. Kennedy Capital Management Inc. now owns 1,008,949 shares of the company’s stock worth $21,914,000 after buying an additional 181,762 shares during the period. Friess Associates LLC purchased a new position in Perficient during the first quarter valued at $652,000. Geode Capital Management LLC boosted its position in Perficient by 4.6% in the first quarter. Geode Capital Management LLC now owns 248,910 shares of the company’s stock valued at $5,406,000 after buying an additional 10,914 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Perficient by 16.8% in the first quarter. UBS Asset Management Americas Inc. now owns 19,500 shares of the company’s stock valued at $424,000 after buying an additional 2,800 shares during the last quarter. Finally, Zebra Capital Management LLC purchased a new position in Perficient during the first quarter valued at $253,000. Institutional investors and hedge funds own 78.70% of the company’s stock.

Perficient Inc. (NASDAQ:PRFT) traded down 0.31% on Tuesday, reaching $19.52. The company’s stock had a trading volume of 91,407 shares. The firm has a market cap of $704.73 million, a price-to-earnings ratio of 26.10 and a beta of 1.35. Perficient Inc. has a 12 month low of $14.90 and a 12 month high of $22.66. The firm has a 50 day moving average of $20.27 and a 200 day moving average of $20.63.

Perficient (NASDAQ:PRFT) last announced its earnings results on Thursday, August 4th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The company had revenue of $124.40 million for the quarter, compared to analysts’ expectations of $124.88 million. Perficient had a net margin of 5.20% and a return on equity of 9.65%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Analysts anticipate that Perficient Inc. will post $1.30 earnings per share for the current year.

Several research analysts have weighed in on the company. Zacks Investment Research cut Perficient from a “hold” rating to a “sell” rating in a research report on Thursday, August 11th. Sidoti assumed coverage on Perficient in a research report on Friday, June 24th. They set a “buy” rating and a $27.00 price objective on the stock.

About Perficient

Perficient, Inc is an information technology and management consulting firm. The Company designs, builds and delivers business-driven technology solutions using third-party software products. Its solutions include big data and analytics, technology platform implementations, commerce, enterprise content management, portals and collaboration, management consulting, custom applications, business integration, content management (CM), business process management (BPM), and customer relationship management (CRM), among others.

5 Day Chart for NASDAQ:PRFT

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