Squarepoint Ops LLC Sells 7,927 Shares of Perficient, Inc. (NASDAQ:PRFT)

Squarepoint Ops LLC reduced its position in Perficient, Inc. (NASDAQ:PRFT) by 35.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,569 shares of the digital transformation consultancy’s stock after selling 7,927 shares during the quarter. Squarepoint Ops LLC’s holdings in Perficient were worth $1,090,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PRFT. BNP Paribas Financial Markets boosted its position in Perficient by 36.8% during the first quarter. BNP Paribas Financial Markets now owns 34,266 shares of the digital transformation consultancy’s stock valued at $1,929,000 after acquiring an additional 9,222 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in Perficient during the first quarter worth approximately $463,000. Confluence Investment Management LLC bought a new stake in Perficient in the first quarter worth approximately $2,886,000. Norden Group LLC lifted its stake in Perficient by 2,123.4% in the first quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy’s stock valued at $5,499,000 after buying an additional 93,301 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of Perficient by 3.8% during the 4th quarter. Schroder Investment Management Group now owns 345,875 shares of the digital transformation consultancy’s stock worth $22,765,000 after buying an additional 12,686 shares in the last quarter. 95.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Perficient in a research note on Sunday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $70.43.

Perficient Stock Performance

Shares of PRFT stock opened at $75.96 on Friday. Perficient, Inc. has a 12 month low of $42.51 and a 12 month high of $76.01. The firm has a market capitalization of $2.67 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.08 and a beta of 1.63. The firm has a fifty day simple moving average of $75.32 and a two-hundred day simple moving average of $69.08. 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 earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). The business had revenue of $222.82 million during 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%. Analysts forecast that Perficient, Inc. will post 3.02 EPS 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.