Perficient, Inc. (NASDAQ:PRFT) Shares Bought by Royal Bank of Canada

Royal Bank of Canada grew its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 556,442 shares of the digital transformation consultancy’s stock after purchasing an additional 8,003 shares during the period. Royal Bank of Canada owned 1.69% of Perficient worth $19,097,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aperio Group LLC lifted its holdings in shares of Perficient by 4.7% during the 2nd quarter. Aperio Group LLC now owns 14,166 shares of the digital transformation consultancy’s stock worth $486,000 after acquiring an additional 642 shares during the period. C M Bidwell & Associates Ltd. lifted 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. Meeder Asset Management Inc. lifted 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. Ladenburg Thalmann Financial Services Inc. raised its holdings in Perficient by 187.3% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,586 shares of the digital transformation consultancy’s stock valued at $54,000 after buying an additional 1,034 shares during the period. Finally, APG Asset Management N.V. raised its holdings in Perficient by 4.2% in the second quarter. APG Asset Management N.V. now owns 35,100 shares of the digital transformation consultancy’s stock valued at $1,058,000 after buying an additional 1,400 shares during the period. 91.19% of the stock is currently owned by institutional investors.

In related news, Director David S. Lundeen sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $36.09, for a total value of $360,900.00. Following the completion of the sale, the director now owns 48,857 shares of the company’s stock, valued at approximately $1,763,249.13. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Jeffrey S. Davis sold 25,302 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 429,691 shares of the company’s stock, valued at approximately $15,649,346.22. The disclosure for this sale can be found here. In the last three months, insiders sold 43,230 shares of company stock valued at $1,564,239. 2.90% of the stock is currently owned by company insiders.

Shares of NASDAQ PRFT opened at $37.46 on Friday. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 2.18 and a beta of 0.81. The business has a 50 day simple moving average of $37.19 and a 200 day simple moving average of $33.11. Perficient, Inc. has a 52 week low of $20.92 and a 52 week high of $39.74. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.30 and a current ratio of 2.30.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings results on Thursday, August 1st. The digital transformation consultancy reported $0.38 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. The business had revenue of $141.90 million during the quarter, compared to analysts’ expectations of $137.05 million. Perficient had a return on equity of 12.31% and a net margin of 5.52%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 EPS. On average, analysts predict that Perficient, Inc. will post 1.58 EPS for the current year.

A number of equities analysts recently weighed in on the company. BidaskClub raised Perficient from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 20th. Barrington Research reaffirmed a “buy” rating and set a $44.00 target price on shares of Perficient in a research note on Thursday, September 12th. Nomura initiated coverage on Perficient in a research note on Friday, June 21st. They set a “buy” rating and a $40.00 target price on the stock. William Blair initiated coverage on Perficient in a research note on Monday, September 9th. They set an “outperform” rating on the stock. Finally, Zacks Investment Research raised Perficient from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $39.20.

Perficient 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, 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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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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