Wellington Management Group LLP Acquires 404,154 Shares of Perficient, Inc. (NASDAQ:PRFT)

Wellington Management Group LLP lifted its holdings in Perficient, Inc. (NASDAQ:PRFT) by 26.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,945,667 shares of the digital transformation consultancy’s stock after purchasing an additional 404,154 shares during the quarter. Wellington Management Group LLP owned 5.57% of Perficient worth $128,064,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Perficient by 10.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,360 shares of the digital transformation consultancy’s stock worth $11,740,000 after purchasing an additional 16,350 shares in the last quarter. Schroder Investment Management Group raised its position in Perficient by 3.8% during the fourth quarter. Schroder Investment Management Group now owns 345,875 shares of the digital transformation consultancy’s stock worth $22,765,000 after acquiring an additional 12,686 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Perficient by 328.0% during the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock worth $10,754,000 after acquiring an additional 142,427 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Perficient by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 336,403 shares of the digital transformation consultancy’s stock worth $19,464,000 after acquiring an additional 16,817 shares in the last quarter. Finally, Natixis Advisors L.P. raised its position in Perficient by 17.8% during the fourth quarter. Natixis Advisors L.P. now owns 60,923 shares of the digital transformation consultancy’s stock worth $4,009,000 after acquiring an additional 9,194 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.

Perficient Trading Up 0.0 %

PRFT stock opened at $74.42 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.18 and a current ratio of 4.18. The company’s 50-day simple moving average is $64.92 and its 200 day simple moving average is $64.60. Perficient, Inc. has a 52 week low of $42.51 and a 52 week high of $96.93. The company has a market capitalization of $2.62 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 1.87 and a beta of 1.63.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. Perficient had a net margin of 9.40% and a return on equity of 19.50%. The business had revenue of $215.30 million for the quarter, compared to the consensus estimate of $224.99 million. During the same period in the prior year, the company posted $0.89 earnings per share. Perficient’s revenue was down 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Perficient, Inc. will post 3.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Alliance Global Partners reaffirmed a “neutral” rating on shares of Perficient in a research report on Tuesday, May 7th. JPMorgan Chase & Co. dropped their price target on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. William Blair reaffirmed a “market perform” rating on shares of Perficient in a research report on Monday, May 6th. Maxim Group reissued a “hold” rating and issued a $76.00 price objective on shares of Perficient in a research report on Tuesday, May 7th. Finally, StockNews.com initiated coverage on shares of Perficient in a research report on Sunday, June 16th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, Perficient presently has a consensus rating of “Hold” and an average price target of $70.43.

Perficient Company 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.