Perficient, Inc. (NASDAQ:PRFT) Position Increased by Yarbrough Capital LLC

Yarbrough Capital LLC increased its stake in Perficient, Inc. (NASDAQ:PRFTGet Rating) by 28.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,101 shares of the digital transformation consultancy’s stock after purchasing an additional 3,828 shares during the period. Yarbrough Capital LLC’s holdings in Perficient were worth $1,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new stake in Perficient in the 4th quarter valued at approximately $1,468,000. Public Employees Retirement Association of Colorado acquired a new stake in Perficient in the 4th quarter valued at approximately $564,000. Pinnacle Associates Ltd. acquired a new stake in Perficient in the 4th quarter valued at approximately $236,000. Point72 Hong Kong Ltd increased its position in Perficient by 1,971.4% in the 4th quarter. Point72 Hong Kong Ltd now owns 290 shares of the digital transformation consultancy’s stock valued at $37,000 after acquiring an additional 276 shares during the period. Finally, Covestor Ltd acquired a new stake in Perficient in the 4th quarter valued at approximately $46,000. 89.37% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on the company. TheStreet upgraded Perficient from a “c+” rating to a “b-” rating in a research report on Thursday, April 28th. William Blair reiterated an “outperform” rating on shares of Perficient in a research report on Thursday, June 9th. JPMorgan Chase & Co. lowered their price target on Perficient from $138.00 to $133.00 in a research report on Friday, April 29th. Alliance Global Partners lowered their price target on Perficient from $138.00 to $122.00 in a research report on Monday, February 28th. Finally, Needham & Company LLC lowered their price target on Perficient from $155.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.67.

In other news, Director Ralph C. Derrickson sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $96.15, for a total value of $480,750.00. Following the completion of the sale, the director now owns 37,281 shares of the company’s stock, valued at $3,584,568.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

Shares of PRFT traded up $1.75 during trading hours on Thursday, hitting $89.48. 2,759 shares of the company were exchanged, compared to its average volume of 170,874. The company has a market capitalization of $3.10 billion, a PE ratio of 48.37, a PEG ratio of 1.31 and a beta of 1.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.38 and a quick ratio of 2.38. The firm has a fifty day simple moving average of $98.63 and a 200-day simple moving average of $106.46. Perficient, Inc. has a one year low of $79.75 and a one year high of $153.28.

Perficient (NASDAQ:PRFTGet Rating) last issued its earnings results on Thursday, April 28th. The digital transformation consultancy reported $0.83 EPS for the quarter, topping the consensus estimate of $0.81 by $0.02. The business had revenue of $222.11 million during the quarter, compared to analysts’ expectations of $219.66 million. Perficient had a return on equity of 27.60% and a net margin of 8.07%. Perficient’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. Sell-side analysts expect that Perficient, Inc. will post 3.76 EPS for the current year.

Perficient Company Profile (Get Rating)

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

Further Reading

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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