Perficient, Inc. (NASDAQ:PRFT) Shares Bought by Alpine Associates Management Inc.

Alpine Associates Management Inc. grew its position in Perficient, Inc. (NASDAQ:PRFT) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 445,598 shares of the digital transformation consultancy’s stock after acquiring an additional 10,500 shares during the quarter. Perficient comprises about 1.5% of Alpine Associates Management Inc.’s holdings, making the stock its 17th largest position. Alpine Associates Management Inc.’s holdings in Perficient were worth $33,634,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its position in Perficient by 156.7% in the 2nd quarter. GAMMA Investing LLC now owns 552 shares of the digital transformation consultancy’s stock valued at $41,000 after purchasing an additional 337 shares during the last quarter. CWM LLC increased its stake in Perficient by 67.7% in the second quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock valued at $43,000 after purchasing an additional 233 shares during the period. Longfellow Investment Management Co. LLC purchased a new stake in shares of Perficient in the second quarter valued at about $74,000. Quest Partners LLC boosted its stake in shares of Perficient by 2,588.5% during the third quarter. Quest Partners LLC now owns 1,398 shares of the digital transformation consultancy’s stock worth $106,000 after buying an additional 1,346 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Perficient during the first quarter worth about $117,000. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Perficient Stock Performance

Shares of PRFT stock opened at $75.96 on Wednesday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.63. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $75.83 and a 200 day moving average price of $75.04. Perficient, Inc. has a twelve month low of $42.51 and a twelve month high of $76.01.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Perficient in a research report on Friday, November 15th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Perficient Profile

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.