Trexquant Investment LP purchased a new stake in Perficient, Inc. (NASDAQ:PRFT) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 12,922 shares of the digital transformation consultancy’s stock, valued at approximately $344,000.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Perficient by 2.9% during the 3rd quarter. BlackRock Inc. now owns 5,072,288 shares of the digital transformation consultancy’s stock valued at $135,176,000 after purchasing an additional 144,771 shares during the period. Northern Trust Corp boosted its stake in Perficient by 6.1% during the 2nd quarter. Northern Trust Corp now owns 871,385 shares of the digital transformation consultancy’s stock valued at $22,978,000 after purchasing an additional 49,932 shares during the period. Russell Investments Group Ltd. boosted its stake in Perficient by 2.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 453,246 shares of the digital transformation consultancy’s stock valued at $11,952,000 after purchasing an additional 10,640 shares during the period. Bank of New York Mellon Corp boosted its stake in Perficient by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 444,431 shares of the digital transformation consultancy’s stock valued at $11,844,000 after purchasing an additional 13,745 shares during the period. Finally, ClariVest Asset Management LLC boosted its stake in Perficient by 66.8% during the 3rd quarter. ClariVest Asset Management LLC now owns 319,293 shares of the digital transformation consultancy’s stock valued at $8,508,000 after purchasing an additional 127,894 shares during the period. 86.29% of the stock is owned by hedge funds and other institutional investors.
PRFT stock opened at $23.71 on Friday. Perficient, Inc. has a 52 week low of $18.23 and a 52 week high of $31.09. The stock has a market cap of $813.95 million, a price-to-earnings ratio of 24.96, a P/E/G ratio of 1.86 and a beta of 0.80. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.93 and a current ratio of 2.93.
In related news, Director James R. Kackley purchased 1,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were bought at an average cost of $25.16 per share, for a total transaction of $25,160.00. Following the transaction, the director now owns 41,019 shares of the company’s stock, valued at $1,032,038.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is currently owned by insiders.
PRFT has been the subject of a number of analyst reports. BidaskClub raised shares of Perficient from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. SunTrust Banks boosted their price target on shares of Perficient to $33.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Maxim Group started coverage on shares of Perficient in a research report on Tuesday, October 2nd. They set a “buy” rating and a $34.00 price target on the stock. Barrington Research started coverage on shares of Perficient in a research report on Wednesday, October 10th. They set an “outperform” rating and a $31.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Perficient from a “hold” rating to a “sell” rating in a research report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $30.83.
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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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