Kestrel Investment Management Corp Sells 13,300 Shares of Perficient, Inc. (NASDAQ:PRFT)

Kestrel Investment Management Corp lessened its stake in Perficient, Inc. (NASDAQ:PRFT) by 19.1% during the fourth quarter, HoldingsChannel reports. The firm owned 56,200 shares of the digital transformation consultancy’s stock after selling 13,300 shares during the period. Perficient comprises approximately 2.5% of Kestrel Investment Management Corp’s portfolio, making the stock its 19th biggest holding. Kestrel Investment Management Corp’s holdings in Perficient were worth $3,699,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PRFT. NBC Securities Inc. purchased a new position in shares of Perficient during the 3rd quarter valued at $38,000. Park Place Capital Corp purchased a new position in Perficient in the third quarter worth $69,000. Tower Research Capital LLC TRC grew its position in Perficient by 170.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,159 shares of the digital transformation consultancy’s stock worth $97,000 after acquiring an additional 731 shares in the last quarter. Lazard Asset Management LLC grew its position in Perficient by 20.1% in the fourth quarter. Lazard Asset Management LLC now owns 1,506 shares of the digital transformation consultancy’s stock worth $105,000 after acquiring an additional 252 shares in the last quarter. Finally, Huntington National Bank grew its position in Perficient by 10.5% in the third quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy’s stock worth $130,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.

Insider Activity

In other news, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the transaction, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $591,955.26. Following the transaction, the chief executive officer now owns 193,304 shares in the company, valued at $13,001,627.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares in the company, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,149 shares of company stock valued at $885,619. Insiders own 2.50% of the company’s stock.

Perficient Trading Up 2.7 %

Perficient stock traded up $1.16 during mid-day trading on Friday, hitting $44.80. The company’s stock had a trading volume of 394,303 shares, compared to its average volume of 219,034. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.09 and a beta of 1.43. The business has a 50 day moving average price of $59.51 and a 200-day moving average price of $62.21. Perficient, Inc. has a 12 month low of $43.39 and a 12 month high of $96.93.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). The business had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, analysts forecast that Perficient, Inc. will post 3.42 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Guggenheim assumed coverage on shares of Perficient in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Barrington Research reiterated an “outperform” rating and issued a $77.00 target price on shares of Perficient in a research report on Wednesday, February 28th. Finally, Scotiabank lowered their price target on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $70.00.

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.