Perficient Inc. (NASDAQ:PRFT)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $22.17, but opened at $22.21. Perficient shares last traded at $22.37, with a volume of 23,272 shares trading hands.

A number of research firms have recently commented on PRFT. Needham & Company LLC reissued a “buy” rating and issued a $24.00 price target on shares of Perficient in a research report on Friday, April 1st. Sidoti began coverage on shares of Perficient in a research report on Friday, June 24th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Perficient from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th.

The stock has a 50-day moving average price of $21.05 and a 200 day moving average price of $19.99. The company has a market cap of $809.81 million and a price-to-earnings ratio of 31.64.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. During the same quarter in the prior year, the firm posted $0.26 earnings per share. The business earned $123.80 million during the quarter, compared to analyst estimates of $122.79 million. Perficient’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that Perficient Inc. will post $1.32 EPS for the current fiscal year.

Other institutional investors have modified their holdings of the company. California State Teachers Retirement System raised its position 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. Sei Investments Co. acquired a new position in shares of Perficient during the fourth quarter valued at about $1,965,000. First Trust Advisors LP raised its position 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. Mutual of America Capital Management LLC raised its position in shares of 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 in the last quarter. Finally, Monarch Partners Asset Management LLC raised its position 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.

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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