Perficient, Inc. (NASDAQ:PRFT) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC cut its stake in Perficient, Inc. (NASDAQ:PRFT) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 945,209 shares of the digital transformation consultancy’s stock after selling 7,190 shares during the quarter. Geneva Capital Management LLC owned approximately 2.69% of Perficient worth $53,206,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Perficient by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,316,958 shares of the digital transformation consultancy’s stock valued at $249,779,000 after purchasing an additional 158,842 shares during the period. Wellington Management Group LLP raised its position in shares of Perficient by 26.2% in the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock worth $128,064,000 after acquiring an additional 404,154 shares during the period. Congress Asset Management Co. MA boosted its stake in shares of Perficient by 5.3% during the 1st quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock worth $78,871,000 after acquiring an additional 71,004 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Perficient by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock valued at $63,097,000 after acquiring an additional 14,606 shares during the period. Finally, Ophir Asset Management Pty Ltd purchased a new position in shares of Perficient in the 4th quarter valued at about $25,474,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Perficient Price Performance

NASDAQ PRFT traded up $0.03 during trading hours on Thursday, hitting $74.86. 371,845 shares of the company’s stock traded hands, compared to its average volume of 488,719. Perficient, Inc. has a 52-week low of $42.51 and a 52-week high of $96.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.18 and a quick ratio of 4.18. The company has a market capitalization of $2.63 billion, a PE ratio of 31.98, a PEG ratio of 1.97 and a beta of 1.62. The firm’s 50-day moving average is $73.13 and its 200-day moving average is $65.44.

Perficient (NASDAQ:PRFT) last issued its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $215.30 million during the quarter, compared to analysts’ expectations of $224.99 million. Perficient had a return on equity of 19.50% and a net margin of 9.40%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS. Equities analysts forecast that Perficient, Inc. will post 3.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on PRFT shares. Barrington Research reissued a “market perform” rating on shares of Perficient in a report on Tuesday, May 7th. Maxim Group reissued a “hold” rating and issued a $76.00 price target on shares of Perficient in a research note on Tuesday, May 7th. William Blair restated a “market perform” rating on shares of Perficient in a research report on Monday, May 6th. Alliance Global Partners reiterated a “neutral” rating on shares of Perficient in a research report on Tuesday, May 7th. Finally, StockNews.com began coverage on shares of Perficient in a research report on Wednesday. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.43.

About Perficient

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, 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 portfolios.