Perficient, Inc. (NASDAQ:PRFT) Stock Position Reduced by Burney Co.

Burney Co. lessened its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 88.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,029 shares of the digital transformation consultancy’s stock after selling 54,881 shares during the period. Burney Co.’s holdings in Perficient were worth $586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in Perficient in the 2nd quarter valued at approximately $26,000. Strs Ohio raised its holdings in shares of Perficient by 300.0% during the second quarter. Strs Ohio now owns 800 shares of the digital transformation consultancy’s stock worth $66,000 after acquiring an additional 600 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Perficient by 20.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,506 shares of the digital transformation consultancy’s stock worth $105,000 after acquiring an additional 252 shares in the last quarter. State of Wyoming raised its holdings in Perficient by 198.7% during the fourth quarter. State of Wyoming now owns 2,043 shares of the digital transformation consultancy’s stock valued at $143,000 after buying an additional 1,359 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Perficient by 85.7% during the first quarter. Captrust Financial Advisors now owns 2,089 shares of the digital transformation consultancy’s stock valued at $230,000 after buying an additional 964 shares in the last quarter. 93.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Alliance Global Partners dropped their price objective on Perficient from $77.00 to $69.00 in a research note on Thursday, July 27th. Needham & Company LLC dropped their price objective on shares of Perficient from $85.00 to $73.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. TheStreet downgraded Perficient from a “b-” rating to a “c+” rating in a report on Tuesday, October 24th. JPMorgan Chase & Co. cut Perficient from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $84.00 to $70.00 in a research note on Friday, July 28th. Finally, StockNews.com assumed coverage on shares of Perficient in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Perficient has a consensus rating of “Hold” and a consensus price target of $74.57.

Perficient Price Performance

PRFT stock opened at $63.25 on Friday. Perficient, Inc. has a 1 year low of $51.23 and a 1 year high of $96.93. The stock has a market capitalization of $2.20 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.14 and a quick ratio of 4.14. The company’s 50-day moving average is $58.93 and its 200-day moving average is $68.70.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Tuesday, October 31st. The digital transformation consultancy reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $223.20 million during the quarter, compared to the consensus estimate of $221.99 million. Perficient had a net margin of 11.13% and a return on equity of 26.10%. Perficient’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. Equities research analysts expect that Perficient, Inc. will post 3.39 EPS for the current fiscal year.

About Perficient

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.