Edgestream Partners L.P. Has $268,000 Stock Position in Perficient, Inc. (NASDAQ:PRFT)

Edgestream Partners L.P. cut its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 70.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,583 shares of the digital transformation consultancy’s stock after selling 8,407 shares during the period. Edgestream Partners L.P.’s holdings in Perficient were worth $268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRFT. Dimensional Fund Advisors LP increased its position in shares of Perficient by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock worth $63,097,000 after acquiring an additional 14,606 shares in the last quarter. Norges Bank bought a new stake in shares of Perficient during the fourth quarter worth about $23,950,000. Parallel Advisors LLC increased its position in shares of Perficient by 73.9% during the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after acquiring an additional 224 shares in the last quarter. First National Bank of Omaha increased its position in shares of Perficient by 8.3% during the fourth quarter. First National Bank of Omaha now owns 59,102 shares of the digital transformation consultancy’s stock worth $3,890,000 after acquiring an additional 4,532 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Perficient by 3.8% during the fourth quarter. Schroder Investment Management Group now owns 345,875 shares of the digital transformation consultancy’s stock worth $22,765,000 after acquiring an additional 12,686 shares in the last quarter. 95.00% of the stock is owned by institutional investors.

Perficient Stock Performance

Shares of PRFT 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 company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $75.19 and its 200 day moving average is $68.30. Perficient, Inc. has a 12 month low of $42.51 and a 12 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). The business had revenue of $222.82 million for the quarter, compared to analysts’ expectations of $223.58 million. Perficient had a net margin of 8.48% and a return on equity of 18.39%. On average, sell-side analysts anticipate that Perficient, Inc. will post 3.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Perficient in a research report on Friday. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, Perficient presently has a consensus rating of “Hold” and a consensus 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.