Highbridge Capital Management LLC bought a new position in Perficient, Inc. (NASDAQ:PRFT) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 111,702 shares of the digital transformation consultancy’s stock, valued at approximately $2,977,000. Highbridge Capital Management LLC owned 0.34% of Perficient at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Perficient by 9.9% during the 2nd quarter. BlackRock Inc. now owns 4,927,517 shares of the digital transformation consultancy’s stock worth $129,937,000 after purchasing an additional 443,431 shares during the last quarter. Rothschild Asset Management Inc. purchased a new stake in shares of Perficient during the 2nd quarter worth $8,104,000. KAMES CAPITAL plc purchased a new stake in shares of Perficient during the 3rd quarter worth $6,839,000. Systematic Financial Management LP lifted its stake in shares of Perficient by 388.7% during the 2nd quarter. Systematic Financial Management LP now owns 302,431 shares of the digital transformation consultancy’s stock worth $7,975,000 after purchasing an additional 240,541 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of Perficient by 77,304.3% during the 2nd quarter. Federated Investors Inc. PA now owns 233,761 shares of the digital transformation consultancy’s stock worth $6,164,000 after purchasing an additional 233,459 shares during the last quarter. Institutional investors and hedge funds own 86.29% of the company’s stock.

Shares of PRFT stock opened at $24.53 on Friday. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $800.68 million, a PE ratio of 25.82, a PEG ratio of 1.83 and a beta of 0.80. Perficient, Inc. has a fifty-two week low of $18.23 and a fifty-two week high of $31.09.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, November 1st. The digital transformation consultancy reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.11. The business had revenue of $123.90 million for the quarter, compared to analyst estimates of $124.91 million. Perficient had a return on equity of 10.69% and a net margin of 4.70%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. Research analysts anticipate that Perficient, Inc. will post 1.17 EPS for the current year.

Several research analysts recently issued reports on the company. BidaskClub lowered Perficient from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Barrington Research assumed coverage on Perficient in a research report on Wednesday, October 10th. They set an “outperform” rating and a $31.00 target price on the stock. SunTrust Banks upped their target price on Perficient to $33.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Zacks Investment Research raised Perficient from a “sell” rating to a “hold” rating in a research report on Thursday, November 29th. Finally, Jefferies Financial Group assumed coverage on Perficient in a research report on Tuesday, November 20th. They set a “buy” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Perficient presently has a consensus rating of “Buy” and an average price target of $30.83.

In other news, Director James R. Kackley acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, November 13th. The shares were acquired at an average cost of $25.16 per share, with a total value of $25,160.00. Following the completion of the acquisition, the director now owns 41,019 shares of the company’s stock, valued at $1,032,038.04. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.70% of the stock is currently owned by corporate insiders.

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Perficient Company Profile

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.

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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