Teachers Retirement System of The State of Kentucky Acquires 556 Shares of Perficient, Inc. (NASDAQ:PRFT)

Teachers Retirement System of The State of Kentucky boosted its position in shares of Perficient, Inc. (NASDAQ:PRFTGet Rating) by 1.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,209 shares of the digital transformation consultancy’s stock after purchasing an additional 556 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.09% of Perficient worth $3,326,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PRFT. Capital International Investors bought a new position in Perficient during the 4th quarter valued at about $34,806,000. Goldman Sachs Group Inc. boosted its position in Perficient by 159.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 395,829 shares of the digital transformation consultancy’s stock valued at $51,177,000 after buying an additional 243,226 shares during the period. Blue Grotto Capital LLC boosted its position in Perficient by 124.7% in the 1st quarter. Blue Grotto Capital LLC now owns 359,879 shares of the digital transformation consultancy’s stock valued at $39,619,000 after buying an additional 199,689 shares during the period. Vanguard Group Inc. boosted its position in Perficient by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 3,799,310 shares of the digital transformation consultancy’s stock valued at $418,266,000 after buying an additional 189,974 shares during the period. Finally, abrdn plc boosted its position in Perficient by 16.7% in the 1st quarter. abrdn plc now owns 1,118,629 shares of the digital transformation consultancy’s stock valued at $123,149,000 after buying an additional 159,959 shares during the period. 93.76% of the stock is currently owned by institutional investors.

Perficient Trading Down 1.1 %

NASDAQ:PRFT opened at $65.75 on Tuesday. Perficient, Inc. has a 52 week low of $64.05 and a 52 week high of $153.28. The firm has a 50 day moving average of $85.84 and a 200 day moving average of $95.29. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 1.03 and a beta of 1.54.

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 analysts’ consensus estimates of $0.92 by $0.14. Perficient had a net margin of 9.01% and a return on equity of 30.67%. The company had revenue of $222.74 million during the quarter, compared to analysts’ expectations of $228.07 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. Perficient’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Perficient, Inc. will post 3.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Perficient

In related news, Director Romil Bahl purchased 500 shares of the business’s stock in a transaction on Monday, August 8th. The shares were acquired at an average price of $88.89 per share, for a total transaction of $44,445.00. Following the purchase, the director now owns 1,449 shares of the company’s stock, valued at approximately $128,801.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price objective on shares of Perficient from $120.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, August 8th. William Blair reaffirmed an “outperform” rating on shares of Perficient in a research report on Thursday, June 9th. Needham & Company LLC lowered their price target on shares of Perficient from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 5th. JPMorgan Chase & Co. lowered their price target on shares of Perficient from $133.00 to $123.00 in a research report on Wednesday, July 20th. Finally, Jefferies Financial Group lowered their price target on shares of Perficient from $131.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, September 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.50.

Perficient Company 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.

See Also

Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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