Perficient, Inc. (PRFT) Stake Decreased by Wells Fargo & Company MN
Wells Fargo & Company MN lessened its stake in shares of Perficient, Inc. (NASDAQ:PRFT) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,073 shares of the digital transformation consultancy’s stock after selling 1,600 shares during the quarter. Wells Fargo & Company MN owned about 0.14% of Perficient worth $952,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in PRFT. Falcon Point Capital LLC increased its holdings in shares of Perficient by 73.7% in the 2nd quarter. Falcon Point Capital LLC now owns 425,575 shares of the digital transformation consultancy’s stock valued at $7,933,000 after acquiring an additional 180,596 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Perficient by 186.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 238,699 shares of the digital transformation consultancy’s stock valued at $4,449,000 after acquiring an additional 155,509 shares during the period. Royce & Associates LP increased its holdings in shares of Perficient by 145.2% in the 2nd quarter. Royce & Associates LP now owns 260,070 shares of the digital transformation consultancy’s stock valued at $4,848,000 after acquiring an additional 154,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Perficient by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 1,859,259 shares of the digital transformation consultancy’s stock valued at $32,276,000 after acquiring an additional 119,160 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Perficient by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,920,360 shares of the digital transformation consultancy’s stock valued at $33,337,000 after acquiring an additional 109,121 shares during the period. 74.61% of the stock is currently owned by institutional investors and hedge funds.
In other Perficient news, CFO Paul E. Martin sold 20,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $19.37, for a total value of $387,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ralph C. Derrickson sold 7,900 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $17.64, for a total transaction of $139,356.00. Following the completion of the transaction, the director now directly owns 32,747 shares in the company, valued at $577,657.08. The disclosure for this sale can be found here. Insiders sold a total of 88,847 shares of company stock worth $1,739,758 over the last three months. 3.70% of the stock is currently owned by corporate insiders.
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Perficient, Inc. (NASDAQ:PRFT) opened at $19.00 on Friday. The firm has a market cap of $663.25, a P/E ratio of 21.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.57 and a current ratio of 2.92.
Perficient (NASDAQ:PRFT) last announced its earnings results on Thursday, November 2nd. The digital transformation consultancy reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $127.51 million. Perficient had a net margin of 3.36% and a return on equity of 8.05%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. research analysts predict that Perficient, Inc. will post 0.95 EPS for the current year.
A number of brokerages have recently commented on PRFT. Zacks Investment Research raised shares of Perficient from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, September 13th. Maxim Group reaffirmed a “buy” rating and issued a $22.00 target price (up from $20.00) on shares of Perficient in a report on Thursday. Finally, BidaskClub cut shares of Perficient from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Perficient currently has an average rating of “Buy” and an average target price of $21.33.
Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.
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