Victory Capital Management Inc. Trims Stock Position in Perficient, Inc. (NASDAQ:PRFT)

Victory Capital Management Inc. decreased its stake in Perficient, Inc. (NASDAQ:PRFT) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,135,801 shares of the digital transformation consultancy’s stock after selling 25,970 shares during the quarter. Victory Capital Management Inc. owned approximately 3.27% of Perficient worth $74,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new stake in Perficient during the fourth quarter valued at $28,000. NBC Securities Inc. purchased a new position in shares of Perficient in the 3rd quarter valued at about $38,000. Huntington National Bank increased its stake in shares of Perficient by 10.5% in the 3rd quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy’s stock valued at $130,000 after purchasing an additional 213 shares in the last quarter. Cetera Trust Company N.A acquired a new position in Perficient in the 4th quarter worth about $161,000. Finally, Park Avenue Securities LLC purchased a new position in Perficient during the third quarter worth approximately $210,000. 95.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the transaction, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction that occurred on 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 shares of Perficient stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $591,955.26. Following the completion of the sale, the chief executive officer now owns 193,304 shares in the company, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. Insiders sold 13,149 shares of company stock valued at $885,619 in the last three months. 2.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PRFT shares. Alliance Global Partners upgraded Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. cut their price target on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday. Barrington Research reaffirmed an “outperform” rating and set a $77.00 price objective on shares of Perficient in a report on Monday, April 29th. Guggenheim initiated coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price for the company. Finally, Scotiabank decreased their price target on shares of Perficient from $65.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Monday, April 29th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $65.17.

Perficient Stock Performance

NASDAQ:PRFT opened at $48.11 on Friday. Perficient, Inc. has a twelve month low of $42.51 and a twelve month high of $96.93. The company has a market cap of $1.69 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.19 and a beta of 1.46. 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 company’s 50-day moving average price is $54.70 and its 200-day moving average price is $61.24.

Perficient (NASDAQ:PRFT) last issued its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share 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 company had revenue of $220.79 million for the quarter, compared to analyst estimates of $223.79 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Perficient, Inc. will post 3.42 earnings per share for the current fiscal year.

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.