Bank of New York Mellon Corp lowered its position in Perficient, Inc. (NASDAQ:PRFT) by 2.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 430,686 shares of the digital transformation consultancy’s stock after selling 8,672 shares during the quarter. Bank of New York Mellon Corp’s holdings in Perficient were worth $11,358,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC boosted its holdings in Perficient by 19.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 15,889 shares of the digital transformation consultancy’s stock valued at $419,000 after acquiring an additional 2,600 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in Perficient by 6.0% in the first quarter. Great West Life Assurance Co. Can now owns 46,930 shares of the digital transformation consultancy’s stock valued at $1,075,000 after acquiring an additional 2,657 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Perficient by 15.9% in the second quarter. Victory Capital Management Inc. now owns 19,466 shares of the digital transformation consultancy’s stock valued at $513,000 after acquiring an additional 2,670 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Perficient by 10.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 29,065 shares of the digital transformation consultancy’s stock valued at $766,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Perficient by 27.7% in the first quarter. Sei Investments Co. now owns 13,466 shares of the digital transformation consultancy’s stock valued at $309,000 after acquiring an additional 2,924 shares during the last quarter. 81.67% of the stock is owned by institutional investors.

PRFT has been the topic of several analyst reports. BidaskClub cut Perficient from a “strong-buy” rating to a “buy” rating in a report on Friday, June 8th. ValuEngine cut Perficient from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Zacks Investment Research cut Perficient from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Perficient in a report on Friday, July 13th. Finally, SunTrust Banks upped their target price on Perficient to $33.00 and gave the company a “buy” rating in a report on Friday, September 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $29.25.

In other Perficient news, Chairman Jeffrey S. Davis sold 45,581 shares of the stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $26.36, for a total transaction of $1,201,515.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 86,888 shares of company stock worth $2,290,150 over the last 90 days. Company insiders own 3.70% of the company’s stock.

Perficient stock opened at $28.11 on Monday. The company has a market cap of $978.51 million, a price-to-earnings ratio of 29.59 and a beta of 0.87. Perficient, Inc. has a 52-week low of $17.65 and a 52-week high of $31.09. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.15.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings results on Thursday, August 2nd. The digital transformation consultancy reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $121.80 million for the quarter, compared to analysts’ expectations of $125.19 million. Perficient had a return on equity of 10.21% and a net margin of 4.85%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 EPS. sell-side analysts forecast that Perficient, Inc. will post 1.17 EPS for the current year.

About Perficient

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

Further Reading: Hedge Funds

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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