Park Place Capital Corp Decreases Position in Perficient, Inc. (NASDAQ:PRFT)

Park Place Capital Corp decreased its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 37.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 737 shares of the digital transformation consultancy’s stock after selling 443 shares during the quarter. Park Place Capital Corp’s holdings in Perficient were worth $55,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PRFT. Raymond James Financial Services Advisors Inc. lifted its position in Perficient by 2.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,277 shares of the digital transformation consultancy’s stock valued at $874,000 after purchasing an additional 326 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Perficient by 7.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,015 shares of the digital transformation consultancy’s stock worth $1,054,000 after acquiring an additional 1,130 shares during the period. Allspring Global Investments Holdings LLC raised its position in Perficient by 10.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,360 shares of the digital transformation consultancy’s stock worth $11,740,000 after acquiring an additional 16,350 shares during the period. Mutual of America Capital Management LLC raised its position in Perficient by 16.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 55,531 shares of the digital transformation consultancy’s stock worth $3,655,000 after acquiring an additional 7,824 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in Perficient in the fourth quarter worth approximately $1,145,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Analysts Set New Price Targets

PRFT has been the topic of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a research report on Monday, May 6th. StockNews.com assumed coverage on shares of Perficient in a research report on Saturday. They set a “sell” rating on the stock. Maxim Group restated a “hold” rating and set a $76.00 price objective on shares of Perficient in a research report on Tuesday, May 7th. Barrington Research restated a “market perform” rating on shares of Perficient in a research report on Tuesday, May 7th. Finally, William Blair restated a “market perform” rating on shares of Perficient in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, Perficient has an average rating of “Hold” and a consensus target price of $70.43.

Perficient Stock Down 0.1 %

Shares of Perficient stock traded down $0.06 on Friday, reaching $75.25. The stock had a trading volume of 589,237 shares, compared to its average volume of 425,869. The company has a 50 day moving average price of $74.65 and a 200 day moving average price of $66.64. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.72. Perficient, Inc. has a 1 year low of $42.51 and a 1 year high of $75.50. The stock has a market capitalization of $2.65 billion, a P/E ratio of 32.16, a P/E/G ratio of 1.90 and a beta of 1.62.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. The firm had revenue of $215.30 million for the quarter, compared to the consensus estimate of $224.99 million. Perficient had a net margin of 9.40% and a return on equity of 19.50%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. As a group, equities research analysts forecast that Perficient, Inc. will post 3.31 EPS for the current year.

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.