Glazer Capital LLC Makes New Investment in Perficient, Inc. (NASDAQ:PRFT)

Glazer Capital LLC acquired a new stake in shares of Perficient, Inc. (NASDAQ:PRFT) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 477,150 shares of the digital transformation consultancy’s stock, valued at approximately $35,686,000. Perficient makes up about 2.8% of Glazer Capital LLC’s holdings, making the stock its 9th biggest position. Glazer Capital LLC owned about 1.36% of Perficient as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Perficient by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock worth $244,380,000 after buying an additional 50,313 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Perficient by 26.2% in the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after purchasing an additional 404,154 shares in the last quarter. Congress Asset Management Co. MA grew its stake in shares of Perficient by 5.3% in the 1st quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock worth $78,871,000 after buying an additional 71,004 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Perficient by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock worth $63,097,000 after buying an additional 14,606 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Perficient by 1.7% during the first quarter. Lord Abbett & CO. LLC now owns 468,466 shares of the digital transformation consultancy’s stock worth $26,370,000 after buying an additional 7,931 shares during the period. Institutional investors own 95.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Perficient in a research note 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 stock. According to MarketBeat, Perficient presently has an average rating of “Hold” and an average target price of $70.43.

Perficient Stock Performance

NASDAQ PRFT opened at $75.50 on Tuesday. The stock has a market cap of $2.65 billion, a PE ratio of 32.26, a PEG ratio of 1.90 and a beta of 1.64. Perficient, Inc. has a 12 month low of $42.51 and a 12 month high of $75.66. The company’s 50-day moving average price is $75.19 and its 200-day moving average price is $68.30. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70.

Perficient (NASDAQ:PRFT) last posted its quarterly 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). Perficient had a net margin of 8.48% and a return on equity of 18.39%. The company had revenue of $222.82 million for the quarter, compared to the consensus estimate of $223.58 million. Equities research analysts forecast that Perficient, Inc. will post 3.31 earnings per share for the current year.

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.