Kestrel Investment Management Corp Has $3.70 Million Holdings in Perficient, Inc. (NASDAQ:PRFT)

Kestrel Investment Management Corp lessened its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 19.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,200 shares of the digital transformation consultancy’s stock after selling 13,300 shares during the quarter. Perficient accounts for approximately 2.5% of Kestrel Investment Management Corp’s holdings, making the stock its 19th largest holding. Kestrel Investment Management Corp owned 0.16% of Perficient worth $3,699,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC raised its stake in shares of Perficient by 79.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 78,875 shares of the digital transformation consultancy’s stock valued at $5,192,000 after purchasing an additional 34,838 shares during the period. Cornerstone Investment Partners LLC acquired a new stake in shares of Perficient in the 4th quarter valued at about $212,000. Guidance Capital Inc. acquired a new stake in shares of Perficient in the 4th quarter valued at about $250,000. Louisiana State Employees Retirement System acquired a new stake in shares of Perficient in the 4th quarter valued at about $1,145,000. Finally, Mutual of America Capital Management LLC raised its stake in shares of Perficient by 16.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 55,531 shares of the digital transformation consultancy’s stock valued at $3,655,000 after purchasing an additional 7,824 shares during the period. Institutional investors and hedge funds own 95.00% of the company’s stock.

Perficient Stock Up 2.7 %

Shares of NASDAQ:PRFT traded up $1.16 during midday trading on Friday, reaching $44.80. The company had a trading volume of 394,303 shares, compared to its average volume of 219,034. Perficient, Inc. has a 1-year low of $43.39 and a 1-year high of $96.93. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.57 billion, a PE ratio of 16.23, a P/E/G ratio of 1.09 and a beta of 1.43. The business’s 50 day moving average price is $59.51 and its 200 day moving average price is $62.21.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business had revenue of $220.79 million for the quarter, compared to the consensus estimate of $223.79 million. During the same quarter in the previous year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Research analysts forecast that Perficient, Inc. will post 3.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PRFT. Barrington Research reissued an “outperform” rating and issued a $77.00 price target on shares of Perficient in a research note on Wednesday, February 28th. Guggenheim started coverage on Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target on the stock. Scotiabank lowered their target price on Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lifted their target price on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $70.00.

Insider Transactions at Perficient

In other news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the sale, the senior vice president now owns 26,533 shares in the company, valued at $1,831,838.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the sale, the chief executive officer now owns 193,304 shares in the company, valued at $13,001,627.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total value of $47,223.36. Following the completion of the sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The disclosure for this sale can be found here. Insiders sold a total of 13,149 shares of company stock worth $885,619 over the last quarter. Company insiders own 2.50% of the company’s stock.

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.