Arizona State Retirement System Boosts Position in Perficient, Inc. (NASDAQ:PRFT)

Arizona State Retirement System increased its holdings in shares of Perficient, Inc. (NASDAQ:PRFT – Get Rating) by 3.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,764 shares of the digital transformation consultancy’s stock after acquiring an additional 348 shares during the quarter. Arizona State Retirement System’s holdings in Perficient were worth $682,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in Perficient during the fourth quarter worth approximately $34,000. Quadrant Capital Group LLC lifted its stake in Perficient by 322.4% during the third 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. First National Advisers LLC purchased a new stake in Perficient during the third quarter worth approximately $90,000. Huntington National Bank increased its position in Perficient by 41.2% during the third quarter. Huntington National Bank now owns 1,692 shares of the digital transformation consultancy’s stock worth $110,000 after buying an additional 494 shares during the period. Finally, Captrust Financial Advisors increased its position in Perficient by 85.7% during the first quarter. Captrust Financial Advisors now owns 2,089 shares of the digital transformation consultancy’s stock worth $230,000 after buying an additional 964 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Perficient Trading Up 0.3 %

NASDAQ:PRFT opened at $74.81 on Wednesday. The firm has a market cap of $2.61 billion, a P/E ratio of 25.80, a PEG ratio of 1.21 and a beta of 1.56. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 0.90. The stock’s 50 day simple moving average is $69.43 and its 200-day simple moving average is $71.23. Perficient, Inc. has a 12-month low of $59.78 and a 12-month high of $110.28.

Perficient (NASDAQ:PRFT – Get Rating) last released its earnings results on Tuesday, February 28th. The digital transformation consultancy reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.03). Perficient had a net margin of 11.38% and a return on equity of 32.14%. The company had revenue of $232.60 million during the quarter, compared to analyst estimates of $235.73 million. Equities analysts anticipate that Perficient, Inc. will post 4.05 EPS for the current year.

Insider Activity at Perficient

In related news, COO Thomas J. Hogan sold 9,900 shares of Perficient stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $72.95, for a total value of $722,205.00. Following the sale, the chief operating officer now directly owns 123,952 shares in the company, valued at $9,042,298.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com assumed coverage on Perficient in a research report on Thursday, March 16th. They set a “hold” rating on the stock. National Alliance Securities reaffirmed a “neutral” rating on shares of Perficient in a research report on Friday, February 17th. TheStreet raised Perficient from a “c+” rating to a “b-” rating in a research report on Thursday, March 30th. Maxim Group cut their price target on Perficient from $107.00 to $93.00 in a research report on Wednesday, March 1st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $85.00 price target on shares of Perficient in a research report on Monday, April 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Perficient presently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

About Perficient

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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.