Prudential Financial Inc. decreased its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 2.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 54,133 shares of the digital transformation consultancy’s stock after selling 1,450 shares during the period. Prudential Financial Inc.’s holdings in Perficient were worth $1,858,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in shares of Perficient by 84.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,209 shares of the digital transformation consultancy’s stock worth $76,000 after acquiring an additional 1,014 shares during the period. Advisor Group Inc. grew its holdings in shares of Perficient by 397.6% during the 2nd quarter. Advisor Group Inc. now owns 4,339 shares of the digital transformation consultancy’s stock worth $149,000 after acquiring an additional 3,467 shares during the period. C M Bidwell & Associates Ltd. grew its holdings in shares of Perficient by 20.1% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 4,895 shares of the digital transformation consultancy’s stock worth $168,000 after acquiring an additional 820 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Perficient by 364.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,731 shares of the digital transformation consultancy’s stock worth $184,000 after acquiring an additional 5,282 shares during the period. Finally, Ibex Investors LLC purchased a new position in shares of Perficient during the 2nd quarter worth approximately $226,000. Hedge funds and other institutional investors own 91.19% of the company’s stock.
PRFT traded up $0.28 during trading on Thursday, hitting $38.50. 3,618 shares of the company’s stock traded hands, compared to its average volume of 210,390. The company’s 50 day simple moving average is $36.49 and its two-hundred day simple moving average is $32.37. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.40. Perficient, Inc. has a 12-month low of $20.92 and a 12-month high of $39.74. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 2.27 and a beta of 0.85.
In other Perficient news, Director James R. Kackley sold 7,928 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.55, for a total transaction of $281,840.40. Following the sale, the director now directly owns 33,708 shares in the company, valued at approximately $1,198,319.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Jeffrey S. Davis sold 25,302 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $36.42, for a total value of $921,498.84. Following the sale, the chairman now owns 429,691 shares in the company, valued at $15,649,346.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,230 shares of company stock worth $1,564,239. Company insiders own 2.90% of the company’s stock.
A number of research analysts have weighed in on the company. BidaskClub upgraded Perficient from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 20th. Maxim Group reiterated a “buy” rating and set a $41.00 target price on shares of Perficient in a report on Wednesday, July 24th. Barrington Research restated a “buy” rating and issued a $44.00 price target on shares of Perficient in a research note on Thursday, September 12th. William Blair began coverage on Perficient in a research note on Monday, September 9th. They issued an “outperform” rating on the stock. Finally, Nomura began coverage on Perficient in a research note on Friday, June 21st. They issued a “buy” rating and a $40.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.40.
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, commerce, content management, 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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