Granahan Investment Management LLC Buys 4,197 Shares of Perficient, Inc. (NASDAQ:PRFT)

Granahan Investment Management LLC raised its stake in shares of Perficient, Inc. (NASDAQ:PRFT) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214,396 shares of the digital transformation consultancy’s stock after purchasing an additional 4,197 shares during the quarter. Granahan Investment Management LLC owned 0.62% of Perficient worth $15,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Moneta Group Investment Advisors LLC raised its position in shares of Perficient by 112,600.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,011,600 shares of the digital transformation consultancy’s stock valued at $838,770,000 after buying an additional 12,000,942 shares in the last quarter. Vanguard Group Inc. raised its position in Perficient by 1.3% during the third quarter. Vanguard Group Inc. now owns 3,930,813 shares of the digital transformation consultancy’s stock valued at $255,582,000 after purchasing an additional 49,373 shares in the last quarter. Wellington Management Group LLP lifted its stake in Perficient by 26.4% during the first quarter. Wellington Management Group LLP now owns 1,745,181 shares of the digital transformation consultancy’s stock worth $125,985,000 after purchasing an additional 364,215 shares during the last quarter. State Street Corp boosted its holdings in shares of Perficient by 2.1% in the 3rd quarter. State Street Corp now owns 1,126,049 shares of the digital transformation consultancy’s stock worth $73,216,000 after purchasing an additional 22,950 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Perficient by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 923,418 shares of the digital transformation consultancy’s stock valued at $66,658,000 after purchasing an additional 12,697 shares during the last quarter. Hedge funds and other institutional investors own 93.39% of the company’s stock.

Perficient Trading Down 1.0 %

NASDAQ PRFT opened at $60.24 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.43 and a current ratio of 3.43. Perficient, Inc. has a fifty-two week low of $58.00 and a fifty-two week high of $96.93. The stock has a market cap of $2.10 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 1.80 and a beta of 1.51. The stock has a 50 day simple moving average of $71.43 and a two-hundred day simple moving average of $72.25.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Thursday, July 27th. The digital transformation consultancy reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.12). Perficient had a net margin of 11.12% and a return on equity of 29.42%. The company had revenue of $231.11 million during the quarter, compared to the consensus estimate of $234.28 million. On average, analysts forecast that Perficient, Inc. will post 3.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com began coverage on Perficient in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Alliance Global Partners reduced their target price on shares of Perficient from $77.00 to $69.00 in a report on Thursday, July 27th. Barrington Research decreased their target price on shares of Perficient from $85.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Scotiabank lowered shares of Perficient from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $80.00 to $70.00 in a research report on Friday, July 28th. Finally, JPMorgan Chase & Co. downgraded Perficient from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $84.00 to $70.00 in a report on Friday, July 28th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $78.25.

Perficient Profile

Perficient, Inc provides digital consultancy services and solutions in the United States. It offers strategy and transformation solution 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 portfolio.