Alpine Associates Management Inc. Takes Position in Perficient, Inc. (NASDAQ:PRFT)

Alpine Associates Management Inc. bought a new position in shares of Perficient, Inc. (NASDAQ:PRFT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 435,098 shares of the digital transformation consultancy’s stock, valued at approximately $32,541,000. Perficient makes up approximately 1.6% of Alpine Associates Management Inc.’s portfolio, making the stock its 20th largest position. Alpine Associates Management Inc. owned about 1.24% of Perficient as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Perficient by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 342,320 shares of the digital transformation consultancy’s stock valued at $22,532,000 after acquiring an additional 5,917 shares during the period. Principal Securities Inc. bought a new position in shares of Perficient in the fourth quarter worth $41,000. Dimensional Fund Advisors LP increased its holdings in Perficient by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock valued at $63,097,000 after buying an additional 14,606 shares during the period. Great Lakes Advisors LLC acquired a new position in Perficient during the fourth quarter valued at approximately $5,978,000. Finally, Norges Bank acquired a new position in shares of Perficient during the 4th quarter worth $23,950,000. 95.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Perficient in a report on Thursday. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.43.

Perficient Trading Up 0.1 %

PRFT opened at $75.50 on Monday. Perficient, Inc. has a twelve month low of $42.51 and a twelve month high of $75.62. The company has a fifty day moving average of $75.12 and a 200-day moving average of $67.81. The stock has a market cap of $2.65 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 1.90 and a beta of 1.64. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.70.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). Perficient had a return on equity of 18.39% and a net margin of 8.48%. The business had revenue of $222.82 million for the quarter, compared to analyst estimates of $223.58 million. On average, sell-side analysts predict that Perficient, Inc. will post 3.31 EPS for the current year.

Perficient Profile

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, and organizational change management; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolios.