Gabelli Funds LLC Takes $9.12 Million Position in Perficient, Inc. (NASDAQ:PRFT)

Gabelli Funds LLC bought a new position in shares of Perficient, Inc. (NASDAQ:PRFT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 121,993 shares of the digital transformation consultancy’s stock, valued at approximately $9,124,000. Gabelli Funds LLC owned 0.35% of Perficient as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRFT. Nisa Investment Advisors LLC grew its position in Perficient by 9.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,913 shares of the digital transformation consultancy’s stock valued at $143,000 after buying an additional 165 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Perficient by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 30,613 shares of the digital transformation consultancy’s stock valued at $2,290,000 after acquiring an additional 181 shares during the period. Parallel Advisors LLC grew its position in shares of Perficient by 73.9% during the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after acquiring an additional 224 shares during the period. Arizona State Retirement System increased its stake in shares of Perficient by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 9,786 shares of the digital transformation consultancy’s stock valued at $732,000 after purchasing an additional 230 shares in the last quarter. Finally, CWM LLC raised its holdings in Perficient by 67.7% in the 2nd quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock worth $43,000 after purchasing an additional 233 shares during the period. 95.00% of the stock is owned by institutional investors and hedge funds.

Perficient Price Performance

Shares of Perficient stock opened at $75.50 on Tuesday. The stock has a market capitalization of $2.65 billion, a P/E ratio of 32.26, a PEG ratio of 1.90 and a beta of 1.64. The business has a 50 day simple moving average of $75.19 and a two-hundred day simple moving average of $68.30. Perficient, Inc. has a 12 month low of $42.51 and a 12 month high of $75.66. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.16 and a quick ratio of 4.16.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Perficient in a report on Friday. 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $70.43.

Perficient 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.