Amalgamated Bank Lowers Position in Perficient, Inc. (NASDAQ:PRFT)

Amalgamated Bank lessened its holdings in shares of Perficient, Inc. (NASDAQ:PRFT) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,714 shares of the digital transformation consultancy’s stock after selling 318 shares during the period. Amalgamated Bank’s holdings in Perficient were worth $801,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRFT. Alpine Associates Management Inc. purchased a new position in Perficient during the 2nd quarter valued at about $32,541,000. Wellington Management Group LLP increased its holdings in shares of Perficient by 26.2% during 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 acquiring an additional 404,154 shares in the last quarter. Ophir Asset Management Pty Ltd purchased a new position in shares of Perficient in the 4th quarter worth about $25,474,000. Norges Bank bought a new position in Perficient in the 4th quarter worth about $23,950,000. Finally, Pentwater Capital Management LP purchased a new stake in Perficient during the 2nd quarter valued at about $22,437,000. 95.00% of the stock is owned by hedge funds and other institutional investors.

Perficient Price Performance

NASDAQ PRFT opened at $75.48 on Friday. Perficient, Inc. has a 1-year low of $42.51 and a 1-year high of $75.74. The business’s fifty day moving average price is $75.24 and its 200-day moving average price is $68.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.16 and a quick ratio of 4.16. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 1.90 and a beta of 1.64.

Perficient (NASDAQ:PRFT) last released 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 return on equity of 18.39% and a net margin of 8.48%. The business had revenue of $222.82 million during the quarter, compared to the consensus estimate of $223.58 million. On average, equities analysts predict 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 report on Saturday. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, Perficient has an average rating of “Hold” and a consensus target price 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.