Verition Fund Management LLC Invests $442,000 in Perficient, Inc. (NASDAQ:PRFT)

Verition Fund Management LLC acquired a new position in Perficient, Inc. (NASDAQ:PRFT – Get Rating) during the third quarter, HoldingsChannel.com reports. The fund acquired 6,793 shares of the digital transformation consultancy’s stock, valued at approximately $442,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC grew its position in Perficient by 322.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 604 shares of the digital transformation consultancy’s stock worth $39,000 after purchasing an additional 461 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Perficient during the 2nd quarter worth approximately $97,000. Lazard Asset Management LLC grew its position in Perficient by 38.4% during the 2nd quarter. Lazard Asset Management LLC now owns 1,254 shares of the digital transformation consultancy’s stock worth $114,000 after purchasing an additional 348 shares during the last quarter. First National Advisers LLC purchased a new stake in Perficient during the 3rd quarter worth approximately $90,000. Finally, Huntington National Bank grew its position in Perficient by 41.2% during the 3rd quarter. Huntington National Bank now owns 1,692 shares of the digital transformation consultancy’s stock worth $110,000 after purchasing an additional 494 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Perficient Price Performance

Shares of NASDAQ PRFT opened at $72.68 on Tuesday. The firm has a 50-day simple moving average of $74.16 and a 200-day simple moving average of $71.40. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.96. Perficient, Inc. has a 52 week low of $59.78 and a 52 week high of $116.44.

Insider Activity at Perficient

In other Perficient news, Director David S. Lundeen sold 4,000 shares of the stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $71.42, for a total transaction of $285,680.00. Following the completion of the transaction, the director now owns 34,412 shares of the company’s stock, valued at $2,457,705.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on PRFT. TheStreet downgraded shares of Perficient from a “b-” rating to a “c+” rating in a research report on Tuesday, November 8th. Alliance Global Partners dropped their price objective on shares of Perficient from $81.00 to $77.00 in a report on Tuesday, February 28th. Barrington Research upped their price objective on shares of Perficient from $80.00 to $85.00 in a report on Wednesday, March 1st. Morgan Stanley dropped their price objective on shares of Perficient from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, January 27th. Finally, Needham & Company LLC dropped their price objective on shares of Perficient from $95.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, March 1st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Perficient Company Profile

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Perficient, Inc engages in the provision of digital consultancy services. Its service categories include strategy and consulting, data and intelligence, platforms and technology, customer experience and digital marketing, innovation, and product development, and optimized global delivery. The company was founded in 1998 and is headquartered in St.