Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Perficient, Inc. (NASDAQ:PRFT) by 165.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,800 shares of the digital transformation consultancy’s stock after purchasing an additional 32,300 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.16% of Perficient worth $1,380,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in Perficient by 2,633.4% in the second quarter. Advisors Asset Management Inc. now owns 221,488 shares of the digital transformation consultancy’s stock valued at $114,000 after purchasing an additional 213,385 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in Perficient in the second quarter valued at approximately $179,000. Engineers Gate Manager LP acquired a new position in Perficient in the third quarter valued at approximately $205,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Perficient in the third quarter valued at approximately $221,000. Finally, Aperio Group LLC acquired a new position in Perficient in the second quarter valued at approximately $243,000. 86.29% of the stock is owned by hedge funds and other institutional investors.
In other news, Director James R. Kackley acquired 1,000 shares of Perficient stock in a transaction on Tuesday, November 13th. The stock was bought at an average price of $25.16 per share, for a total transaction of $25,160.00. Following the completion of the purchase, the director now owns 41,019 shares in the company, valued at $1,032,038.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by insiders.
Shares of NASDAQ PRFT opened at $23.71 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.93 and a quick ratio of 2.93. Perficient, Inc. has a twelve month low of $18.23 and a twelve month high of $31.09. The company has a market capitalization of $800.68 million, a price-to-earnings ratio of 24.96, a PEG ratio of 1.83 and a beta of 0.80.
Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Thursday, November 1st. The digital transformation consultancy reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.11. Perficient had a return on equity of 10.69% and a net margin of 4.70%. The company had revenue of $123.90 million during the quarter, compared to analysts’ expectations of $124.91 million. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Perficient, Inc. will post 1.17 earnings per share for the current year.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Perficient from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub downgraded Perficient from a “buy” rating to a “hold” rating in a report on Thursday, September 20th. SunTrust Banks upped their price target on Perficient to $33.00 and gave the company a “buy” rating in a report on Friday, September 14th. Barrington Research assumed coverage on Perficient in a research note on Wednesday, October 10th. They issued an “outperform” rating and a $31.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on Perficient in a research note on Tuesday, November 20th. They issued a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $30.83.
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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, 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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