Perficient, Inc. (NASDAQ:PRFT) Holdings Boosted by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 68.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,156 shares of the digital transformation consultancy’s stock after purchasing an additional 19,556 shares during the period. King Luther Capital Management Corp owned 0.14% of Perficient worth $3,602,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in shares of Perficient by 9.4% during the 2nd 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 boosted its stake 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 buying an additional 181 shares during the period. Parallel Advisors LLC boosted its stake 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 buying an additional 224 shares during the period. Arizona State Retirement System lifted 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 during the last quarter. Finally, CWM LLC lifted its stake in shares of Perficient by 67.7% in the 2nd quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock valued at $43,000 after purchasing an additional 233 shares during the last quarter. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Perficient Price Performance

Perficient stock 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 P/E/G ratio of 1.90 and a beta of 1.64. The firm has a fifty day moving average price of $75.18 and a two-hundred day moving average price of $68.19. 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 announced its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.01). The business had revenue of $222.82 million for the quarter, compared to the consensus estimate of $223.58 million. Perficient had a net margin of 8.48% and a return on equity of 18.39%. As a group, analysts forecast that Perficient, Inc. will post 3.31 earnings per share for the current 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.