Granahan Investment Management Inc. MA boosted its holdings in Perficient, Inc. (NASDAQ:PRFT) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,209 shares of the digital transformation consultancy’s stock after acquiring an additional 3,127 shares during the quarter. Granahan Investment Management Inc. MA owned about 0.52% of Perficient worth $4,752,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PRFT. BlueMountain Capital Management LLC bought a new stake in Perficient in the second quarter worth about $179,000. Hsbc Holdings PLC bought a new stake in Perficient in the first quarter worth about $204,000. Piedmont Investment Advisors LLC bought a new stake in Perficient in the second quarter worth about $215,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Perficient by 191.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,984 shares of the digital transformation consultancy’s stock worth $229,000 after acquiring an additional 6,557 shares in the last quarter. Finally, Aperio Group LLC bought a new stake in Perficient in the second quarter worth about $243,000. Hedge funds and other institutional investors own 81.67% of the company’s stock.

NASDAQ PRFT opened at $29.29 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 26.47 and a beta of 0.87. Perficient, Inc. has a 1 year low of $17.65 and a 1 year high of $31.09.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Thursday, August 2nd. The digital transformation consultancy reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The firm had revenue of $121.80 million for the quarter, compared to the consensus estimate of $125.19 million. Perficient had a return on equity of 10.21% and a net margin of 4.85%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 EPS. sell-side analysts expect that Perficient, Inc. will post 1.17 earnings per share for the current year.

In other Perficient news, Chairman Jeffrey S. Davis sold 45,581 shares of the business’s stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $26.36, for a total transaction of $1,201,515.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 86,888 shares of company stock worth $2,290,150. Corporate insiders own 3.50% of the company’s stock.

Several research firms have issued reports on PRFT. SunTrust Banks boosted their price objective on Perficient to $33.00 and gave the stock a “buy” rating in a report on Friday. BidaskClub upgraded Perficient from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Perficient in a report on Friday, July 13th. ValuEngine downgraded Perficient from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Finally, Zacks Investment Research downgraded Perficient from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $29.25.

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, 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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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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