Perficient, Inc. (NASDAQ:PRFT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in Perficient, Inc. (NASDAQ:PRFT) by 23.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,106 shares of the digital transformation consultancy’s stock after selling 8,077 shares during the quarter. Federated Hermes Inc. owned about 0.08% of Perficient worth $1,784,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PRFT. SG Americas Securities LLC acquired a new stake in shares of Perficient in the 3rd quarter worth $1,115,000. Covenant Partners LLC acquired a new stake in shares of Perficient in the 3rd quarter worth $200,000. HGK Asset Management Inc. acquired a new stake in shares of Perficient in the 3rd quarter worth $250,000. Dakota Wealth Management purchased a new position in Perficient in the 3rd quarter worth $219,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Perficient by 97.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,951 shares of the digital transformation consultancy’s stock worth $749,000 after acquiring an additional 6,380 shares during the last quarter. Institutional investors and hedge funds own 95.00% of the company’s stock.

Perficient Stock Performance

NASDAQ PRFT opened at $42.99 on Monday. The stock has a 50-day simple moving average of $56.90 and a two-hundred day simple moving average of $61.68. The firm has a market capitalization of $1.51 billion, a P/E ratio of 15.58, a PEG ratio of 1.05 and a beta of 1.43. Perficient, Inc. has a fifty-two week low of $42.51 and a fifty-two week high of $96.93. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company had revenue of $220.79 million for the quarter, compared to analysts’ expectations of $223.79 million. During the same quarter in the previous year, the business posted $0.98 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities analysts forecast that Perficient, Inc. will post 3.42 earnings per share for the current year.

Insider Activity at Perficient

In related news, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $246,440.64. Following the completion of the transaction, the chief financial officer now owns 212,642 shares in the company, valued at approximately $14,302,300.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $246,440.64. Following the completion of the transaction, the chief financial officer now owns 212,642 shares in the company, valued at approximately $14,302,300.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total value of $47,223.36. Following the completion of the transaction, the senior vice president now owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. Insiders sold a total of 13,149 shares of company stock worth $885,619 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRFT. Alliance Global Partners upgraded Perficient from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Tuesday, April 23rd. Scotiabank reduced their target price on Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. raised their target price on Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Guggenheim began coverage on Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, Barrington Research restated an “outperform” rating and issued a $77.00 target price on shares of Perficient in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.67.

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.