State of New Jersey Common Pension Fund D Sells 12,618 Shares of Perficient, Inc. (NASDAQ:PRFT)

State of New Jersey Common Pension Fund D lowered its position in Perficient, Inc. (NASDAQ:PRFT) by 32.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,358 shares of the digital transformation consultancy’s stock after selling 12,618 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of Perficient worth $1,971,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PRFT. Fidelis Capital Partners LLC purchased a new stake in Perficient in the first quarter worth about $25,000. Parallel Advisors LLC increased its position in Perficient by 73.9% in the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after buying an additional 224 shares in the last quarter. Principal Securities Inc. purchased a new stake in Perficient in the fourth quarter worth about $41,000. GAMMA Investing LLC increased its position in Perficient by 156.7% in the second quarter. GAMMA Investing LLC now owns 552 shares of the digital transformation consultancy’s stock worth $41,000 after buying an additional 337 shares in the last quarter. Finally, CWM LLC increased its position in Perficient by 67.7% in the second quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock worth $43,000 after buying an additional 233 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Perficient in a research report on Friday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $70.43.

Perficient Stock Performance

NASDAQ PRFT opened at $75.50 on Friday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 32.26, a price-to-earnings-growth ratio of 1.90 and a beta of 1.64. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $75.18 and a 200-day moving average price of $68.19. Perficient, Inc. has a twelve month low of $42.51 and a twelve month high of $75.66.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). Perficient had a net margin of 8.48% and a return on equity of 18.39%. The firm had revenue of $222.82 million for the quarter, compared to the consensus estimate of $223.58 million. As a group, equities research analysts predict that Perficient, Inc. will post 3.31 EPS for the current fiscal year.

About Perficient

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.