State of Alaska Department of Revenue raised its stake in Perficient, Inc. (NASDAQ:PRFT) by 77.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,942 shares of the information technology services provider’s stock after buying an additional 3,032 shares during the period. State of Alaska Department of Revenue’s holdings in Perficient were worth $129,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in PRFT. Norges Bank acquired a new stake in shares of Perficient during the fourth quarter valued at $10,850,000. Capstone Asset Management Co. acquired a new stake in shares of Perficient during the first quarter valued at $192,000. Legato Capital Management LLC increased its stake in shares of Perficient by 1,636.0% in the first quarter. Legato Capital Management LLC now owns 53,226 shares of the information technology services provider’s stock valued at $3,066,000 after buying an additional 50,160 shares during the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of Perficient during the first quarter valued at $1,812,000. Finally, Investment Counselors of Maryland LLC increased its stake in shares of Perficient by 14.4% in the first quarter. Investment Counselors of Maryland LLC now owns 1,059,205 shares of the information technology services provider’s stock valued at $18,388,000 after buying an additional 133,200 shares during the last quarter. 76.38% of the stock is currently owned by hedge funds and other institutional investors.
Perficient, Inc. (NASDAQ:PRFT) traded down 1.27% on Friday, reaching $17.17. 39,905 shares of the company’s stock traded hands. Perficient, Inc. has a 52 week low of $14.15 and a 52 week high of $20.79. The firm has a market capitalization of $602.96 million, a P/E ratio of 41.67 and a beta of 0.86. The stock has a 50-day moving average of $18.33 and a 200 day moving average of $17.68.
Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. The business had revenue of $117 million during the quarter, compared to analyst estimates of $119.21 million. Perficient had a net margin of 3.08% and a return on equity of 7.42%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, equities analysts expect that Perficient, Inc. will post $1.23 EPS for the current fiscal year.
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Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Perficient from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Maxim Group set a $20.00 price target on shares of Perficient and gave the stock a “buy” rating in a report on Thursday, May 4th. 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 sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $20.33.
In related news, Director Ralph C. Derrickson sold 7,900 shares of Perficient stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $17.64, for a total value of $139,356.00. Following the completion of the sale, the director now owns 32,747 shares in the company, valued at $577,657.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.70% of the stock is currently owned by insiders.
Perficient Company Profile
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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