Perficient Inc. (NASDAQ:PRFT) saw strong trading volume on Wednesday . 108,647 shares traded hands during mid-day trading, a decline of 16% from the previous session’s volume of 129,898 shares.The stock last traded at $20.61 and had previously closed at $20.34.

Several equities research analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $24.00 price target on shares of Perficient in a research report on Friday, April 1st. Sidoti assumed coverage on shares of Perficient in a research report on Friday, June 24th. They issued a “buy” rating and a $27.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Perficient from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th.

The firm’s 50 day moving average is $20.72 and its 200 day moving average is $19.52. The firm has a market cap of $732.19 million and a price-to-earnings ratio of 28.60.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. The business earned $123.80 million during the quarter, compared to the consensus estimate of $122.79 million. During the same period in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Perficient Inc. will post $1.32 earnings per share for the current year.

Several hedge funds have made changes to their positions in the company. Russell Frank Co raised its stake in shares of Perficient by 3.1% in the fourth quarter. Russell Frank Co now owns 427,862 shares of the company’s stock worth $7,513,000 after buying an additional 12,937 shares in the last quarter. California State Teachers Retirement System raised its stake in Perficient by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 65,648 shares of the company’s stock valued at $1,124,000 after buying an additional 1,132 shares during the period. Sei Investments Co. purchased a new stake in Perficient during the fourth quarter valued at about $1,965,000. First Trust Advisors LP raised its stake in Perficient by 29.4% in the fourth quarter. First Trust Advisors LP now owns 111,094 shares of the company’s stock valued at $1,902,000 after buying an additional 25,255 shares during the period. Finally, Mutual of America Capital Management LLC raised its stake in Perficient by 163.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 217,115 shares of the company’s stock valued at $3,717,000 after buying an additional 134,815 shares during the period.

Perficient, Inc is an information technology and management consulting firm. The Company designs, builds and delivers business-driven technology solutions using third-party software products. Its solutions include big data and analytics, technology platform implementations, commerce, enterprise content management, portals and collaboration, management consulting, custom applications, business integration, content management (CM), business process management (BPM), and customer relationship management (CRM), among others.

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