Victory Capital Management Inc. Sells 1,102,010 Shares of Perficient, Inc. (NASDAQ:PRFT)

Victory Capital Management Inc. lowered its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 98.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,279 shares of the digital transformation consultancy’s stock after selling 1,102,010 shares during the quarter. Victory Capital Management Inc.’s holdings in Perficient were worth $918,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Perficient by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock worth $244,380,000 after purchasing an additional 50,313 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Perficient by 26.2% during the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock worth $128,064,000 after purchasing an additional 404,154 shares during the period. Congress Asset Management Co. MA raised its position in shares of Perficient by 5.3% in the first quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock valued at $78,871,000 after buying an additional 71,004 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Perficient by 1.7% in the first quarter. Lord Abbett & CO. LLC now owns 468,466 shares of the digital transformation consultancy’s stock valued at $26,370,000 after buying an additional 7,931 shares during the period. Institutional investors own 95.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Perficient in a research note on Friday. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.43.

Perficient Price Performance

NASDAQ PRFT opened at $75.50 on Friday. The business has a fifty day moving average price of $75.17 and a two-hundred day moving average price of $68.07. The stock has a market capitalization of $2.65 billion, a PE ratio of 32.28, a PEG ratio of 1.90 and a beta of 1.64. Perficient, Inc. has a fifty-two week low of $42.51 and a fifty-two week 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 posted 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). The business 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%. Equities analysts expect that Perficient, Inc. will post 3.31 earnings per share for the current fiscal year.

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.