Louisiana State Employees Retirement System Makes New $1.15 Million Investment in Perficient, Inc. (NASDAQ:PRFT)

Louisiana State Employees Retirement System acquired a new position in Perficient, Inc. (NASDAQ:PRFT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,400 shares of the digital transformation consultancy’s stock, valued at approximately $1,145,000. Louisiana State Employees Retirement System owned approximately 0.05% of Perficient as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in Perficient by 1.8% in the third quarter. Arizona State Retirement System now owns 9,919 shares of the digital transformation consultancy’s stock worth $574,000 after purchasing an additional 175 shares in the last quarter. Huntington National Bank boosted its stake in Perficient by 10.5% in the third quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy’s stock worth $130,000 after purchasing an additional 213 shares in the last quarter. Values First Advisors Inc. boosted its stake in Perficient by 7.7% in the fourth quarter. Values First Advisors Inc. now owns 4,380 shares of the digital transformation consultancy’s stock worth $288,000 after purchasing an additional 314 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Perficient by 2.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,277 shares of the digital transformation consultancy’s stock valued at $874,000 after acquiring an additional 326 shares during the period. Finally, Knights of Columbus Asset Advisors LLC lifted its stake in shares of Perficient by 0.8% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 44,037 shares of the digital transformation consultancy’s stock valued at $2,548,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 95.00% of the company’s stock.

Perficient Trading Up 0.8 %

NASDAQ:PRFT opened at $45.48 on Wednesday. Perficient, Inc. has a 1-year low of $43.39 and a 1-year high of $96.93. The business’s 50-day moving average price is $58.51 and its two-hundred day moving average price is $62.05. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.09 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last announced its quarterly 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). Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. On average, equities analysts expect that Perficient, Inc. will post 3.42 earnings per share for the current year.

Analysts Set New Price Targets

PRFT has been the topic of several research reports. Guggenheim initiated coverage on Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. upped their price target on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Scotiabank cut their price target on Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Barrington Research reaffirmed an “outperform” rating and set a $77.00 price target on shares of Perficient in a research note on Wednesday, February 28th. Finally, Alliance Global Partners raised Perficient from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Perficient currently has a consensus rating of “Hold” and an average target price of $69.67.

Insiders Place Their Bets

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

Perficient Profile

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.