Systematic Financial Management LP lowered its stake in Perficient, Inc. (NASDAQ:PRFT) by 11.4% during the first quarter, Holdings Channel reports. The institutional investor owned 74,565 shares of the information technology services provider’s stock after selling 9,575 shares during the period. Systematic Financial Management LP’s holdings in Perficient were worth $1,294,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Perficient by 16.2% in the first quarter. Wellington Management Group LLP now owns 1,815,360 shares of the information technology services provider’s stock valued at $31,514,000 after buying an additional 253,499 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Perficient by 1.8% in the first quarter. Principal Financial Group Inc. now owns 276,162 shares of the information technology services provider’s stock valued at $4,794,000 after buying an additional 4,808 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Perficient by 31.6% in the first quarter. OppenheimerFunds Inc. now owns 20,812 shares of the information technology services provider’s stock valued at $361,000 after buying an additional 5,001 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Perficient during the first quarter valued at about $346,000. Finally, Victory Capital Management Inc. raised its stake in shares of Perficient by 31.1% in the first quarter. Victory Capital Management Inc. now owns 6,860 shares of the information technology services provider’s stock valued at $119,000 after buying an additional 1,629 shares in the last quarter. Institutional investors and hedge funds own 78.35% of the company’s stock.

Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

Perficient, Inc. (PRFT) traded down 1.406% during trading on Tuesday, reaching $17.185. The company’s stock had a trading volume of 10,868 shares. Perficient, Inc. has a 52 week low of $14.15 and a 52 week high of $22.66. The company’s 50 day moving average price is $17.08 and its 200 day moving average price is $17.63. The company has a market cap of $605.72 million, a P/E ratio of 34.301 and a beta of 0.85.

Perficient (NASDAQ:PRFT) last issued its earnings results on Thursday, May 4th. The information technology services provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04. The company had revenue of $111.02 million for the quarter, compared to analysts’ expectations of $114.23 million. Perficient had a net margin of 3.75% and a return on equity of 7.33%. Perficient’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. On average, equities analysts anticipate that Perficient, Inc. will post $1.22 earnings per share for the current fiscal year.

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Several brokerages recently issued reports on PRFT. Zacks Investment Research upgraded Perficient from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Saturday. Maxim Group set a $20.00 price objective on Perficient and gave the stock a “buy” rating in a report on Thursday, May 4th. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price objective on shares of Perficient in a report on Sunday, April 2nd. Finally, TheStreet lowered Perficient from a “b-” rating to a “c” rating in a report on Tuesday, February 28th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $22.00.

About Perficient

Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.

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