Perficient, Inc. (PRFT) Position Boosted by Morgan Stanley
Morgan Stanley boosted its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 15.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,480 shares of the information technology services provider’s stock after buying an additional 30,353 shares during the period. Morgan Stanley owned approximately 0.64% of Perficient worth $3,916,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its stake in Perficient by 10.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,521 shares of the information technology services provider’s stock worth $113,000 after buying an additional 637 shares in the last quarter. Victory Capital Management Inc. raised its stake in Perficient by 31.1% in the first quarter. Victory Capital Management Inc. now owns 6,860 shares of the information technology services provider’s stock worth $119,000 after buying an additional 1,629 shares in the last quarter. Acrospire Investment Management LLC raised its stake in Perficient by 525.7% in the first quarter. Acrospire Investment Management LLC now owns 7,771 shares of the information technology services provider’s stock worth $135,000 after buying an additional 6,529 shares in the last quarter. Mason Street Advisors LLC raised its stake in Perficient by 5.1% in the first quarter. Mason Street Advisors LLC now owns 8,282 shares of the information technology services provider’s stock worth $144,000 after buying an additional 403 shares in the last quarter. Finally, Airain ltd purchased a new stake in Perficient during the first quarter worth approximately $177,000. Institutional investors own 77.38% of the company’s stock.
Perficient, Inc. (NASDAQ PRFT) traded down 0.57% during midday trading on Tuesday, reaching $17.58. 15,230 shares of the company were exchanged. The firm has a market capitalization of $617.36 million, a PE ratio of 42.67 and a beta of 0.86. Perficient, Inc. has a 52 week low of $14.15 and a 52 week high of $20.79. The company has a 50-day moving average of $18.29 and a 200 day moving average of $17.67.
Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $117 million during the quarter, compared to analyst estimates of $119.21 million. Perficient had a net margin of 3.08% and a return on equity of 7.42%. Perficient’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. Equities analysts predict that Perficient, Inc. will post $1.23 earnings per share for the current year.
PRFT has been the subject of a number of recent analyst reports. Maxim Group set a $20.00 price target on shares of Perficient and gave the company a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Perficient from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $20.33.
In other Perficient news, Director Ralph C. Derrickson sold 7,900 shares of Perficient stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $17.64, for a total transaction of $139,356.00. Following the completion of the transaction, the director now directly owns 32,747 shares of the company’s stock, valued at $577,657.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is owned by insiders.
Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.
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