Inspire Advisors LLC Sells 710 Shares of Perficient, Inc. (NASDAQ:PRFT)

Inspire Advisors LLC cut its position in Perficient, Inc. (NASDAQ:PRFT) by 6.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,976 shares of the digital transformation consultancy’s stock after selling 710 shares during the quarter. Inspire Advisors LLC’s holdings in Perficient were worth $828,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Perficient by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock valued at $244,380,000 after acquiring an additional 50,313 shares in the last quarter. Wellington Management Group LLP lifted its stake in Perficient by 26.2% during the 4th quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after acquiring an additional 404,154 shares during the period. Glazer Capital LLC purchased a new stake in shares of Perficient during the 2nd quarter valued at about $35,686,000. Millennium Management LLC grew its stake in shares of Perficient by 1,044.3% in the second quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock worth $35,577,000 after acquiring an additional 434,115 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Perficient by 1.7% during the first quarter. Lord Abbett & CO. LLC now owns 468,466 shares of the digital transformation consultancy’s stock valued at $26,370,000 after purchasing an additional 7,931 shares during the last quarter. Institutional investors own 95.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Perficient in a research report on Monday, October 14th. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, Perficient presently has an average rating of “Hold” and an average target price of $70.43.

Perficient Stock Performance

Shares of PRFT stock opened at $75.96 on Friday. The firm has a fifty day moving average price of $75.47 and a 200-day moving average price of $70.42. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.63. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.16 and a quick ratio of 4.16. Perficient, Inc. has a 1 year low of $42.51 and a 1 year high of $76.01.

Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). The firm had revenue of $222.82 million during the quarter, compared to analysts’ expectations of $223.58 million. Perficient had a return on equity of 18.39% and a net margin of 8.48%. As a group, equities analysts predict that Perficient, Inc. will post 2.83 earnings per share for the current year.

About Perficient

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.