Perficient, Inc. (NASDAQ:PRFT) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Perficient, Inc. (NASDAQ:PRFTGet Rating) by 10.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 244,353 shares of the digital transformation consultancy’s stock after purchasing an additional 22,181 shares during the quarter. JPMorgan Chase & Co.’s holdings in Perficient were worth $26,900,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PRFT. Huntington National Bank lifted its holdings in Perficient by 18.1% during the 1st quarter. Huntington National Bank now owns 1,122 shares of the digital transformation consultancy’s stock worth $124,000 after buying an additional 172 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Perficient during the 1st quarter worth approximately $48,000. Fox Run Management L.L.C. bought a new position in Perficient during the 1st quarter worth approximately $234,000. Boston Partners lifted its holdings in Perficient by 3.0% during the 1st quarter. Boston Partners now owns 4,991 shares of the digital transformation consultancy’s stock worth $549,000 after buying an additional 146 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in Perficient by 53.0% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 5,967 shares of the digital transformation consultancy’s stock worth $657,000 after buying an additional 2,067 shares during the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

Insider Activity at Perficient

In other news, Director Romil Bahl purchased 500 shares of the stock in a transaction dated Monday, August 8th. The shares were bought at an average cost of $88.89 per share, for a total transaction of $44,445.00. Following the transaction, the director now owns 1,449 shares in the company, valued at $128,801.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by insiders.

Analysts Set New Price Targets

PRFT has been the topic of a number of research analyst reports. Scotiabank initiated coverage on Perficient in a report on Thursday, June 30th. They set a “sector outperform” rating and a $110.00 target price on the stock. Maxim Group reaffirmed a “buy” rating and set a $140.00 target price on shares of Perficient in a report on Friday, August 5th. William Blair reissued an “outperform” rating on shares of Perficient in a report on Thursday, June 9th. Alliance Global Partners cut their price target on Perficient to $107.00 in a report on Tuesday, August 9th. Finally, Needham & Company LLC cut their price target on Perficient from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $117.71.

Perficient Stock Down 3.0 %

PRFT opened at $73.49 on Friday. Perficient, Inc. has a 12 month low of $72.53 and a 12 month high of $153.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.67 and a quick ratio of 2.67. The stock has a market cap of $2.54 billion, a P/E ratio of 34.50, a P/E/G ratio of 1.22 and a beta of 1.47. The stock’s 50 day moving average price is $90.88 and its 200 day moving average price is $97.94.

Perficient (NASDAQ:PRFTGet Rating) last posted its earnings results on Thursday, August 4th. The digital transformation consultancy reported $1.06 EPS for the quarter, beating the consensus estimate of $0.92 by $0.14. Perficient had a return on equity of 30.67% and a net margin of 9.01%. The firm had revenue of $222.74 million for the quarter, compared to analysts’ expectations of $228.07 million. During the same period last year, the firm earned $0.71 EPS. The firm’s revenue was up 21.0% compared to the same quarter last year. As a group, research analysts predict that Perficient, Inc. will post 3.79 earnings per share for the current year.

Perficient Profile

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Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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