Perficient Inc. (PRFT) Position Reduced by Strs Ohio
Strs Ohio decreased its stake in Perficient Inc. (NASDAQ:PRFT) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 203,000 shares of the company’s stock after selling 7,000 shares during the period. Strs Ohio’s holdings in Perficient were worth $4,122,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in Perficient during the first quarter valued at $1,023,000. Granahan Investment Management Inc. MA increased its stake in Perficient by 13.2% in the first quarter. Granahan Investment Management Inc. MA now owns 1,073,670 shares of the company’s stock valued at $23,320,000 after buying an additional 125,600 shares during the last quarter. Kennedy Capital Management Inc. increased its stake in Perficient by 22.0% in the first quarter. Kennedy Capital Management Inc. now owns 1,008,949 shares of the company’s stock valued at $21,914,000 after buying an additional 181,762 shares during the last quarter. Friess Associates LLC purchased a new stake in Perficient during the first quarter valued at $652,000. Finally, Zebra Capital Management LLC purchased a new stake in Perficient during the first quarter valued at $253,000. Hedge funds and other institutional investors own 78.61% of the company’s stock.
Shares of Perficient Inc. (NASDAQ:PRFT) remained flat at $19.87 during mid-day trading on Thursday. The stock had a trading volume of 85,115 shares. Perficient Inc. has a 1-year low of $15.46 and a 1-year high of $22.66. The company has a market capitalization of $717.37 million, a price-to-earnings ratio of 26.56 and a beta of 1.24. The company has a 50-day moving average of $19.98 and a 200 day moving average of $20.63.
Perficient (NASDAQ:PRFT) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $124.40 million for the quarter, compared to analysts’ expectations of $124.88 million. Perficient had a return on equity of 9.65% and a net margin of 5.20%. Perficient’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. Analysts anticipate that Perficient Inc. will post $1.29 EPS for the current fiscal year.
Several analysts have weighed in on PRFT shares. Sidoti started coverage on Perficient in a research note on Friday, June 24th. They set a “buy” rating and a $27.00 price target on the stock. Zacks Investment Research downgraded Perficient from a “buy” rating to a “hold” rating in a research note on Thursday, July 7th.
Perficient Company Profile
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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