Park Place Capital Corp Buys 344 Shares of Perficient, Inc. (NASDAQ:PRFT)

Park Place Capital Corp raised its holdings in Perficient, Inc. (NASDAQ:PRFT) by 41.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,180 shares of the digital transformation consultancy’s stock after buying an additional 344 shares during the quarter. Park Place Capital Corp’s holdings in Perficient were worth $66,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of Perficient during the 4th quarter worth approximately $28,000. Parallel Advisors LLC raised its position in shares of Perficient by 73.9% during the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after acquiring an additional 224 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Perficient during the fourth quarter worth $41,000. Cetera Trust Company N.A acquired a new stake in shares of Perficient during the fourth quarter worth $161,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Perficient during the fourth quarter worth $212,000. Institutional investors and hedge funds own 95.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PRFT shares. JPMorgan Chase & Co. reduced their price objective on Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of Perficient in a research note on Monday, May 6th. StockNews.com assumed coverage on Perficient in a research report on Tuesday. They issued a “sell” rating on the stock. Barrington Research reaffirmed a “market perform” rating on shares of Perficient in a research report on Tuesday, May 7th. Finally, Guggenheim assumed coverage on Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $70.43.

Perficient Stock Up 0.0 %

Shares of PRFT opened at $74.80 on Tuesday. Perficient, Inc. has a 52 week low of $42.51 and a 52 week high of $96.93. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 1.97 and a beta of 1.62. 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 stock has a fifty day moving average of $68.94 and a 200-day moving average of $65.05.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $215.30 million during the quarter, compared to analysts’ expectations of $224.99 million. Perficient had a return on equity of 19.50% and a net margin of 9.40%. Perficient’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 EPS. As a group, sell-side analysts anticipate that Perficient, Inc. will post 3.16 earnings per share for the current fiscal year.

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.