Arizona State Retirement System Has $732,000 Holdings in Perficient, Inc. (NASDAQ:PRFT)

Arizona State Retirement System increased its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,786 shares of the digital transformation consultancy’s stock after buying an additional 230 shares during the period. Arizona State Retirement System’s holdings in Perficient were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRFT. Charles Schwab Investment Management Inc. increased its stake in shares of Perficient by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 342,320 shares of the digital transformation consultancy’s stock worth $22,532,000 after purchasing an additional 5,917 shares during the last quarter. Principal Securities Inc. acquired a new position in Perficient during the fourth quarter worth approximately $41,000. Dimensional Fund Advisors LP raised its stake in Perficient by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock valued at $63,097,000 after buying an additional 14,606 shares during the period. Great Lakes Advisors LLC bought a new stake in Perficient in the fourth quarter valued at approximately $5,978,000. Finally, Norges Bank acquired a new stake in shares of Perficient in the fourth quarter valued at approximately $23,950,000. 95.00% of the stock is owned by institutional investors.

Perficient Stock Performance

NASDAQ:PRFT opened at $75.50 on Monday. The stock has a 50 day simple moving average of $75.12 and a 200 day simple moving average of $67.81. The stock has a market cap of $2.65 billion, a P/E ratio of 32.26, a PEG ratio of 1.90 and a beta of 1.64. Perficient, Inc. has a 1-year low of $42.51 and a 1-year high of $75.62. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70.

Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). The firm had revenue of $222.82 million for the quarter, compared to analyst estimates of $223.58 million. Perficient had a return on equity of 18.39% and a net margin of 8.48%. Research analysts anticipate that Perficient, Inc. will post 3.31 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Perficient in a report on Thursday. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company 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.