Perficient, Inc. (NASDAQ:PRFT) Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC lowered its stake in Perficient, Inc. (NASDAQ:PRFT) by 0.8% during the third quarter, HoldingsChannel reports. The firm owned 35,118 shares of the digital transformation consultancy’s stock after selling 275 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Perficient were worth $2,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Perficient by 1.2% during the first quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock worth $244,380,000 after acquiring an additional 50,313 shares during the period. Glazer Capital LLC purchased a new stake in Perficient during the second quarter worth $35,686,000. Millennium Management LLC boosted its position in Perficient by 1,044.3% during the second quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock worth $35,577,000 after purchasing an additional 434,115 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in Perficient by 1.7% during the first quarter. Lord Abbett & CO. LLC now owns 468,466 shares of the digital transformation consultancy’s stock worth $26,370,000 after purchasing an additional 7,931 shares in the last quarter. Finally, Alpine Associates Management Inc. purchased a new stake in Perficient during the second quarter worth $32,541,000. Institutional investors and hedge funds own 95.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Perficient in a research report on Wednesday. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.00.

Perficient Stock Performance

Perficient stock opened at $75.96 on Friday. The firm has a market capitalization of $2.67 billion, a P/E ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.63. The stock has a fifty day moving average price of $75.65 and a 200 day moving average price of $72.08. Perficient, Inc. has a 52 week low of $42.51 and a 52 week high of $76.01. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70.

Perficient (NASDAQ:PRFT) last released its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.01). The business had revenue of $222.82 million during the quarter, compared to analyst estimates of $223.58 million. Perficient had a net margin of 8.48% and a return on equity of 18.39%. Equities research analysts anticipate that Perficient, Inc. will post 2.83 earnings per share 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.