Bank of New York Mellon Corp Trims Holdings in Perficient, Inc. (PRFT)

Bank of New York Mellon Corp reduced its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 430,686 shares of the digital transformation consultancy’s stock after selling 8,672 shares during the quarter. Bank of New York Mellon Corp owned about 1.23% of Perficient worth $11,358,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in Perficient by 28.6% in the first quarter. Victory Capital Management Inc. now owns 16,796 shares of the digital transformation consultancy’s stock valued at $385,000 after purchasing an additional 3,739 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Perficient by 12.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 167,952 shares of the digital transformation consultancy’s stock valued at $3,850,000 after purchasing an additional 19,033 shares in the last quarter. BlackRock Inc. raised its stake in Perficient by 0.6% in the first quarter. BlackRock Inc. now owns 4,484,086 shares of the digital transformation consultancy’s stock valued at $102,774,000 after purchasing an additional 26,599 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Perficient by 6.0% in the first quarter. Great West Life Assurance Co. Can now owns 46,930 shares of the digital transformation consultancy’s stock valued at $1,075,000 after purchasing an additional 2,657 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Perficient by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,404,130 shares of the digital transformation consultancy’s stock valued at $55,103,000 after purchasing an additional 79,985 shares in the last quarter. Institutional investors own 81.67% of the company’s stock.

Shares of NASDAQ PRFT opened at $28.11 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a market cap of $978.51 million, a price-to-earnings ratio of 29.59 and a beta of 0.87. Perficient, Inc. has a 12 month low of $17.65 and a 12 month high of $31.09.

Perficient (NASDAQ:PRFT) last issued its earnings results on Thursday, August 2nd. The digital transformation consultancy reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The firm had revenue of $121.80 million during the quarter, compared to the consensus estimate of $125.19 million. Perficient had a return on equity of 10.21% and a net margin of 4.85%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. sell-side analysts predict that Perficient, Inc. will post 1.17 earnings per share for the current year.

PRFT has been the subject of a number of analyst reports. BidaskClub downgraded Perficient from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. ValuEngine downgraded Perficient from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. Zacks Investment Research downgraded Perficient from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. SunTrust Banks boosted their price target on Perficient to $33.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Perficient in a research note on Friday, July 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $29.25.

In other Perficient news, CEO Jeffrey S. Davis sold 34,800 shares of the business’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $26.35, for a total transaction of $916,980.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 86,888 shares of company stock valued at $2,290,150. Insiders own 3.70% of the company’s stock.

Perficient Company Profile

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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