Perficient, Inc. (NASDAQ:PRFT) Short Interest Update

Perficient, Inc. (NASDAQ:PRFT) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 2,013,900 shares, a drop of 12.0% from the May 30th total of 2,288,600 shares. Approximately 6.3% of the company’s shares are short sold. Based on an average daily volume of 327,300 shares, the days-to-cover ratio is currently 6.2 days.

In related news, CEO Jeffrey S. Davis sold 900 shares of Perficient stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $29.62, for a total value of $26,658.00. Following the completion of the sale, the chief executive officer now directly owns 532,389 shares in the company, valued at $15,769,362.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Paul E. Martin sold 25,000 shares of Perficient stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $30.88, for a total value of $772,000.00. Following the completion of the sale, the chief financial officer now owns 172,674 shares of the company’s stock, valued at $5,332,173.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,196 shares of company stock valued at $3,181,205. Corporate insiders own 2.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its stake in Perficient by 51.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,238 shares of the digital transformation consultancy’s stock valued at $28,000 after acquiring an additional 421 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Perficient in the 1st quarter valued at approximately $40,000. Investors Research Corp bought a new stake in Perficient in the 1st quarter valued at approximately $101,000. BNP Paribas Arbitrage SA lifted its stake in Perficient by 364.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,731 shares of the digital transformation consultancy’s stock valued at $184,000 after acquiring an additional 5,282 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Perficient in the 4th quarter valued at approximately $221,000. Institutional investors and hedge funds own 88.32% of the company’s stock.

Shares of PRFT traded up $0.63 on Friday, hitting $35.10. The company’s stock had a trading volume of 213,812 shares, compared to its average volume of 273,288. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $32.77. Perficient has a fifty-two week low of $20.92 and a fifty-two week high of $35.99. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 2.21 and a beta of 0.91.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Thursday, May 2nd. The digital transformation consultancy reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.12. Perficient had a return on equity of 11.50% and a net margin of 5.21%. The business had revenue of $133.82 million during the quarter, compared to analyst estimates of $131.10 million. During the same period in the previous year, the firm earned $0.35 EPS. Perficient’s quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts expect that Perficient will post 1.45 EPS for the current year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Nomura assumed coverage on Perficient in a research report on Friday, June 21st. They set a “buy” rating and a $40.00 target price for the company. BidaskClub upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. Finally, Maxim Group set a $9.00 target price on Pitney Bowes and gave the stock a “buy” rating in a research report on Friday, May 31st. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Perficient currently has an average rating of “Buy” and a consensus target price of $34.57.

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, commerce, content management, 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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