Healthcare of Ontario Pension Plan Trust Fund Acquires New Position in Perficient, Inc. (NASDAQ:PRFT)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Perficient, Inc. (NASDAQ:PRFT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 307,100 shares of the digital transformation consultancy’s stock, valued at approximately $22,968,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.87% of Perficient at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Glazer Capital LLC bought a new stake in Perficient in the second quarter valued at approximately $35,686,000. Alpine Associates Management Inc. bought a new stake in shares of Perficient during the second quarter worth $32,541,000. Millennium Management LLC increased its position in shares of Perficient by 1,044.3% during the second quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock worth $35,577,000 after acquiring an additional 434,115 shares in the last quarter. Wellington Management Group LLP increased its position 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 worth $128,064,000 after acquiring an additional 404,154 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd bought a new stake in shares of Perficient during the fourth quarter worth $25,474,000. 95.00% of the stock is currently owned by institutional investors and hedge funds.

Perficient Price Performance

PRFT stock opened at $75.96 on Friday. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.70. Perficient, Inc. has a 12 month low of $42.51 and a 12 month high of $76.01. The firm has a market cap of $2.67 billion, a P/E ratio of 32.46, a P/E/G ratio of 2.08 and a beta of 1.63. The company’s 50-day moving average price is $75.28 and its two-hundred day moving average price is $68.92.

Perficient (NASDAQ:PRFT) last released its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 EPS 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 firm had revenue of $222.82 million during the quarter, compared to the consensus estimate of $223.58 million. On average, analysts anticipate that Perficient, Inc. will post 3.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Perficient in a research report on Saturday, September 28th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $70.43.

About Perficient

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.