Select Equity Group L.P. Increases Stock Position in Perficient, Inc. (NASDAQ:PRFT)

Select Equity Group L.P. grew its holdings in Perficient, Inc. (NASDAQ:PRFT) by 149.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 17,589 shares of the digital transformation consultancy’s stock after buying an additional 10,550 shares during the period. Select Equity Group L.P. owned 0.05% of Perficient worth $1,033,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Oak Ridge Investments LLC grew its position in Perficient by 723.7% during the first quarter. Oak Ridge Investments LLC now owns 1,245,809 shares of the digital transformation consultancy’s stock worth $73,154,000 after buying an additional 1,094,556 shares during the period. Norges Bank purchased a new position in shares of Perficient during the fourth quarter valued at approximately $32,109,000. Mcrae Capital Management Inc. purchased a new position in shares of Perficient during the first quarter valued at approximately $13,038,000. Victory Capital Management Inc. lifted its stake in shares of Perficient by 2,480.1% during the first quarter. Victory Capital Management Inc. now owns 201,840 shares of the digital transformation consultancy’s stock valued at $11,852,000 after buying an additional 194,017 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Perficient by 3.7% during the first quarter. BlackRock Inc. now owns 5,118,580 shares of the digital transformation consultancy’s stock valued at $300,562,000 after buying an additional 180,418 shares during the period. 96.70% of the stock is owned by institutional investors and hedge funds.

PRFT traded up $0.27 during trading hours on Thursday, reaching $84.26. 4 shares of the stock traded hands, compared to its average volume of 208,884. The business’s fifty day moving average price is $77.60. The firm has a market cap of $2.78 billion, a P/E ratio of 79.24, a price-to-earnings-growth ratio of 2.27 and a beta of 1.50. Perficient, Inc. has a fifty-two week low of $35.06 and a fifty-two week high of $85.35. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.47.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Thursday, April 29th. The digital transformation consultancy reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.19. The business had revenue of $169.34 million during the quarter, compared to analyst estimates of $166.55 million. Perficient had a net margin of 5.47% and a return on equity of 17.97%. Analysts predict that Perficient, Inc. will post 2.64 EPS for the current year.

In other Perficient news, CFO Paul E. Martin sold 8,200 shares of the firm’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $66.49, for a total transaction of $545,218.00. Following the completion of the transaction, the chief financial officer now directly owns 145,947 shares of the company’s stock, valued at approximately $9,704,016.03. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Thomas J. Hogan sold 8,224 shares of the firm’s stock in a transaction on Wednesday, May 5th. The stock was sold at an average price of $67.50, for a total transaction of $555,120.00. Following the transaction, the chief operating officer now directly owns 83,441 shares of the company’s stock, valued at $5,632,267.50. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Several brokerages recently issued reports on PRFT. Alliance Global Partners reissued a “buy” rating and set a $78.00 price objective (up previously from $72.00) on shares of Perficient in a research note on Thursday, April 29th. JPMorgan Chase & Co. initiated coverage on shares of Perficient in a research note on Tuesday, March 30th. They set a “neutral” rating and a $68.00 price target on the stock. Barrington Research increased their price target on shares of Perficient from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, April 30th. Zacks Investment Research downgraded shares of Perficient from a “buy” rating to a “hold” rating in a research note on Wednesday, June 30th. Finally, Maxim Group reaffirmed a “buy” rating and set a $83.00 price target on shares of Perficient in a research note on Friday, April 30th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $74.00.

Perficient Company Profile

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers solutions in the digital and technology strategy, management consulting, and organizational change management areas; 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: Percentage Gainers

Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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