Municipal Employees Retirement System of Michigan acquired a new stake in Perficient, Inc. (NASDAQ:PRFT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,940 shares of the digital transformation consultancy’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PRFT. Moneta Group Investment Advisors LLC acquired a new stake in Perficient in the 4th quarter valued at about $16,247,000. Nomura Holdings Inc. grew its stake in Perficient by 2,931.4% in the 4th quarter. Nomura Holdings Inc. now owns 325,122 shares of the digital transformation consultancy’s stock valued at $7,198,000 after acquiring an additional 314,397 shares during the last quarter. Oak Ridge Investments LLC acquired a new stake in Perficient in the 4th quarter valued at about $6,901,000. BlackRock Inc. grew its stake in Perficient by 2.9% in the 3rd quarter. BlackRock Inc. now owns 5,072,288 shares of the digital transformation consultancy’s stock valued at $135,176,000 after acquiring an additional 144,771 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its stake in Perficient by 33.5% in the 4th quarter. ClariVest Asset Management LLC now owns 426,216 shares of the digital transformation consultancy’s stock valued at $9,487,000 after acquiring an additional 106,923 shares during the last quarter. 92.09% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on PRFT shares. Zacks Investment Research raised shares of Perficient from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Tuesday, March 5th. BidaskClub raised shares of Perficient from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Barrington Research reaffirmed a “buy” rating and set a $33.00 price target on shares of Perficient in a research note on Wednesday, February 27th. Finally, Maxim Group reaffirmed a “buy” rating and set a $34.00 price target on shares of Perficient in a research note on Friday, February 15th. Eight analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $32.17.

In other news, COO Thomas J. Hogan sold 3,380 shares of the stock in a transaction dated Saturday, March 2nd. The shares were sold at an average price of $29.20, for a total transaction of $98,696.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey S. Davis sold 42,000 shares of the stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $28.17, for a total transaction of $1,183,140.00. Following the transaction, the chairman now owns 471,573 shares in the company, valued at $13,284,211.41. The disclosure for this sale can be found here. Insiders have sold a total of 216,161 shares of company stock worth $6,206,853 over the last ninety days. 3.50% of the stock is owned by corporate insiders.

Perficient stock opened at $28.05 on Tuesday. Perficient, Inc. has a 12-month low of $20.92 and a 12-month high of $31.09. The stock has a market cap of $928.56 million, a price-to-earnings ratio of 23.18, a PEG ratio of 2.12 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.38 and a current ratio of 2.38.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Tuesday, February 26th. The digital transformation consultancy reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.05. Perficient had a net margin of 4.93% and a return on equity of 11.23%. The company had revenue of $131.70 million for the quarter, compared to analysts’ expectations of $128.35 million. During the same period last year, the company earned $0.37 EPS. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Perficient, Inc. will post 1.29 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Municipal Employees Retirement System of Michigan Invests $221,000 in Perficient, Inc. (PRFT) Stock” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://www.thecerbatgem.com/2019/04/16/municipal-employees-retirement-system-of-michigan-invests-221000-in-perficient-inc-prft-stock.html.

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.

Featured Story: Why do companies engage in swaps?

Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

Receive News & Ratings for Perficient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perficient and related companies with MarketBeat.com's FREE daily email newsletter.