Metropolitan Life Insurance Co. NY cut its stake in shares of Perficient, Inc. (NASDAQ:PRFT) by 6.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 24,278 shares of the information technology services provider’s stock after selling 1,634 shares during the period. Metropolitan Life Insurance Co. NY owned 0.07% of Perficient worth $421,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Stevens Capital Management LP purchased a new stake in shares of Perficient during the first quarter valued at $236,000. Mutual of America Capital Management LLC boosted its stake in shares of Perficient by 148.2% in the first quarter. Mutual of America Capital Management LLC now owns 142,949 shares of the information technology services provider’s stock valued at $2,482,000 after buying an additional 85,349 shares during the period. State of Tennessee Treasury Department boosted its stake in shares of Perficient by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 32,446 shares of the information technology services provider’s stock valued at $563,000 after buying an additional 4,897 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in shares of Perficient during the first quarter valued at $181,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Perficient by 3.0% in the first quarter. Ameriprise Financial Inc. now owns 184,954 shares of the information technology services provider’s stock valued at $3,211,000 after buying an additional 5,300 shares during the period. 77.38% of the stock is currently owned by hedge funds and other institutional investors.
Perficient, Inc. (PRFT) traded up 1.03% during mid-day trading on Wednesday, reaching $17.66. 9,351 shares of the company’s stock were exchanged. The company has a market capitalization of $620.17 million, a P/E ratio of 42.86 and a beta of 0.86. Perficient, Inc. has a 52 week low of $14.15 and a 52 week high of $20.79. The company’s 50 day moving average price is $18.25 and its 200-day moving average price is $17.67.
Perficient (NASDAQ:PRFT) last released its earnings results on Thursday, August 3rd. The information technology services provider reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The company had revenue of $117 million during the quarter, compared to analysts’ expectations of $119.21 million. Perficient had a return on equity of 7.42% and a net margin of 3.08%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. On average, equities research analysts expect that Perficient, Inc. will post $1.23 earnings per share for the current fiscal year.
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Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Perficient from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Maxim Group set a $20.00 target price on shares of Perficient and gave the company a “buy” rating in a report on Saturday, June 24th. Finally, BidaskClub cut shares of Perficient from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $20.33.
In other news, Director Ralph C. Derrickson sold 7,900 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $17.64, for a total transaction of $139,356.00. Following the completion of the transaction, the director now directly owns 32,747 shares in the company, valued at approximately $577,657.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.70% of the company’s stock.
Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.
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