Shares of Perficient Inc. (NASDAQ:PRFT) fell 2.2% during mid-day trading on Friday . The company traded as low as $21.34 and last traded at $21.35, with a volume of 59,880 shares. The stock had previously closed at $21.82.

A number of brokerages have issued reports on PRFT. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price target on shares of Perficient in a report on Friday, April 1st. Sidoti began coverage on Perficient in a report on Friday, June 24th. They set a “buy” rating and a $27.00 price target for the company. Finally, Zacks Investment Research downgraded Perficient from a “buy” rating to a “hold” rating in a report on Thursday, May 5th.

The company has a 50 day moving average price of $20.88 and a 200-day moving average price of $19.69. The stock has a market cap of $770.46 million and a price-to-earnings ratio of 30.10.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $123.80 million for the quarter, compared to analyst estimates of $122.79 million. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, equities analysts forecast that Perficient Inc. will post $1.32 EPS for the current fiscal year.

Other hedge funds recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of 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 in the last quarter. Monarch Partners Asset Management LLC increased its stake in shares of Perficient by 10.6% in the fourth quarter. Monarch Partners Asset Management LLC now owns 107,575 shares of the company’s stock valued at $1,842,000 after buying an additional 10,300 shares in the last quarter. First Trust Advisors LP increased its stake in shares of 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 in the last quarter. Sei Investments Co. bought a new stake in shares of Perficient during the fourth quarter valued at about $1,965,000. Finally, Morgan Stanley increased its stake in shares of Perficient by 10.2% in the fourth quarter. Morgan Stanley now owns 128,079 shares of the company’s stock valued at $2,192,000 after buying an additional 11,877 shares in the last quarter.

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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