Congress Wealth Management LLC DE Buys 42,194 Shares of Perficient, Inc. (NASDAQ:PRFT)

Congress Wealth Management LLC DE boosted its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 36.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 157,396 shares of the digital transformation consultancy’s stock after acquiring an additional 42,194 shares during the period. Congress Wealth Management LLC DE’s holdings in Perficient were worth $8,860,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Park Place Capital Corp raised its position in shares of Perficient by 41.1% during the 1st quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock valued at $66,000 after purchasing an additional 344 shares during the period. Bridge City Capital LLC increased its stake in Perficient by 35.6% in the 1st quarter. Bridge City Capital LLC now owns 34,872 shares of the digital transformation consultancy’s stock worth $1,963,000 after buying an additional 9,163 shares in the last quarter. Congress Asset Management Co. MA raised its holdings in Perficient by 5.3% during 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 acquiring an additional 71,004 shares during the period. Park Avenue Securities LLC lifted its position in shares of Perficient by 9.7% in the first quarter. Park Avenue Securities LLC now owns 4,014 shares of the digital transformation consultancy’s stock valued at $226,000 after acquiring an additional 355 shares in the last quarter. Finally, Confluence Investment Management LLC bought a new position in shares of Perficient in the first quarter worth about $2,886,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Perficient Price Performance

Perficient stock opened at $74.80 on Tuesday. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 1.97 and a beta of 1.62. The firm has a 50-day moving average of $68.94 and a two-hundred day moving average of $65.05. Perficient, Inc. has a 1 year low of $42.51 and a 1 year high of $96.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.18 and a quick ratio of 4.18.

Perficient (NASDAQ:PRFT) last issued its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. Perficient had a return on equity of 19.50% and a net margin of 9.40%. The business had revenue of $215.30 million during the quarter, compared to analyst estimates of $224.99 million. During the same period in the previous year, the company posted $0.89 EPS. Perficient’s revenue was down 7.0% on a year-over-year basis. On average, research analysts forecast that Perficient, Inc. will post 3.16 earnings per share for the current year.

Analysts Set New Price Targets

PRFT has been the topic of several recent analyst reports. StockNews.com assumed coverage on Perficient in a research note on Tuesday. They set a “sell” rating on the stock. JPMorgan Chase & Co. lowered their target price on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Scotiabank raised their target price on shares of Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a research note on Monday, May 6th. Barrington Research reiterated a “market perform” rating on shares of Perficient in a research note on Tuesday, May 7th. Finally, Maxim Group reissued a “hold” rating and set a $76.00 price objective on shares of Perficient in a report on Tuesday, May 7th. One 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, Perficient currently has a consensus rating of “Hold” and an average target price of $70.43.

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.