Tributary Capital Management LLC Increases Holdings in Perficient, Inc. (NASDAQ:PRFT)

Tributary Capital Management LLC boosted its stake in shares of Perficient, Inc. (NASDAQ:PRFTFree Report) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,500 shares of the digital transformation consultancy’s stock after buying an additional 1,100 shares during the period. Tributary Capital Management LLC’s holdings in Perficient were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PRFT. Moneta Group Investment Advisors LLC lifted its holdings in Perficient by 112,600.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 12,011,600 shares of the digital transformation consultancy’s stock worth $838,770,000 after buying an additional 12,000,942 shares during the period. Congress Asset Management Co. MA lifted its holdings in shares of Perficient by 69.1% during the 3rd quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy’s stock valued at $79,766,000 after purchasing an additional 563,290 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Perficient during the 3rd quarter valued at $32,578,000. Norges Bank purchased a new stake in shares of Perficient during the 4th quarter valued at $26,728,000. Finally, Blue Grotto Capital LLC lifted its holdings in shares of Perficient by 124.7% during 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 purchasing an additional 199,689 shares during the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PRFT has been the topic of several research reports. Scotiabank cut their target price on Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. JPMorgan Chase & Co. increased their price target on Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Guggenheim initiated coverage on Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price target on the stock. Finally, Barrington Research reaffirmed an “outperform” rating and set a $77.00 price target on shares of Perficient in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.00.

View Our Latest Stock Analysis on PRFT

Perficient Trading Down 3.1 %

PRFT stock opened at $56.76 on Monday. The company’s 50-day simple moving average is $66.81 and its 200-day simple moving average is $63.35. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. Perficient, Inc. has a 52-week low of $51.23 and a 52-week high of $96.93. The firm has a market cap of $1.98 billion, a P/E ratio of 20.57, a PEG ratio of 1.38 and a beta of 1.45.

Perficient (NASDAQ:PRFTGet Free Report) last posted its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). The firm had revenue of $220.79 million for the quarter, compared to analysts’ expectations of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. As a group, equities analysts forecast that Perficient, Inc. will post 3.42 EPS for the current fiscal year.

Insider Activity at Perficient

In related news, CFO Paul E. Martin sold 3,664 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $246,440.64. Following the transaction, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Perficient news, CFO Paul E. Martin sold 3,664 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $246,440.64. Following the transaction, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the transaction, the senior vice president now directly owns 26,533 shares in the company, valued at $1,831,838.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,149 shares of company stock valued at $885,619. 2.50% of the stock is owned by corporate insiders.

About Perficient

(Free Report)

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

See Also

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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