New York State Teachers Retirement System Sells 5,000 Shares of Perficient, Inc. (PRFT)

New York State Teachers Retirement System reduced its stake in shares of Perficient, Inc. (NASDAQ:PRFT) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,184 shares of the information technology services provider’s stock after selling 5,000 shares during the period. New York State Teachers Retirement System owned about 0.35% of Perficient worth $2,173,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in Perficient by 10.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,521 shares of the information technology services provider’s stock valued at $113,000 after buying an additional 637 shares in the last quarter. Victory Capital Management Inc. raised its stake in Perficient by 31.1% in the first quarter. Victory Capital Management Inc. now owns 6,860 shares of the information technology services provider’s stock valued at $119,000 after buying an additional 1,629 shares in the last quarter. Acrospire Investment Management LLC raised its stake in Perficient by 525.7% in the first quarter. Acrospire Investment Management LLC now owns 7,771 shares of the information technology services provider’s stock valued at $135,000 after buying an additional 6,529 shares in the last quarter. Mason Street Advisors LLC raised its stake in Perficient by 5.1% in the first quarter. Mason Street Advisors LLC now owns 8,282 shares of the information technology services provider’s stock valued at $144,000 after buying an additional 403 shares in the last quarter. Finally, Airain ltd acquired a new stake in Perficient during the first quarter valued at approximately $177,000. Institutional investors and hedge funds own 77.16% of the company’s stock.

Shares of Perficient, Inc. (PRFT) opened at 18.495 on Tuesday. The stock has a 50 day moving average of $17.37 and a 200 day moving average of $17.64. The company has a market cap of $651.89 million, a price-to-earnings ratio of 36.916 and a beta of 0.86. Perficient, Inc. has a 12-month low of $14.15 and a 12-month high of $22.66.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Thursday, May 4th. The information technology services provider reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Perficient had a net margin of 3.75% and a return on equity of 7.33%. The business had revenue of $111.02 million during the quarter, compared to analyst estimates of $114.23 million. During the same quarter last year, the firm posted $0.29 earnings per share. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. Analysts forecast that Perficient, Inc. will post $1.21 earnings per share for the current year.

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Several equities research analysts have recently commented on PRFT shares. Needham & Company LLC restated a “buy” rating and issued a $21.00 price target on shares of Perficient in a report on Sunday, April 2nd. Zacks Investment Research upgraded shares of Perficient from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Thursday, May 11th. Finally, Maxim Group set a $20.00 price target on shares of Perficient and gave the company a “buy” rating in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $20.33.

Perficient Company Profile

Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.

Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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