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Short Interest in Perficient, Inc. (NASDAQ:PRFT) Declines By 18.8%

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Perficient (NASDAQ: PRFT) saw a significant drop in its short interest rates in December. As of December 15, there was a short interest totaling 876,700 shares, down 18.8% from the November 30 total of 1,080,000 shares. Based on an average trading volume of 477,300 shares, the short interest rate is currently 1.8 days. Approximately 2.7% of the company’s stock was short sold.

NASDAQ PRFT traded down $4.66 during trading hours on Friday, reaching $111.53. 410,953 shares of the company’s stock were traded, compared to an average trading volume of 357,210. The stock has a market capitalization of $3.67 billion, a PE ratio of 68.01, a price-to-price ratio of 2.49 and beta 1.43. The perfect hit a 12-month low at $46.02 and a 12-month high at $153.28. The company has a 50-day moving average of $133.48 and a 200-day moving average of $115.78. The company has a trading ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.44.

Perficient (NASDAQ:PRFT) released its latest earnings results on Thursday, October 28th. The digital transformation consultancy reported earnings of $0.88 per share for the quarter, topping Zacks’ agreed estimate of $0.85 by $0.03. The company generated revenue of $192.80 million for the previous quarter, compared to analyst expectations of $189.51 million. The net profit margin was 7.90% and the return on equity was 21.84%. The company’s revenue increased by 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned a dividend of $0.52 per share. On average, equity research analysts expect Perficient to report 2.88 earnings per share for the current year.

Several research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Perficient from a “buy” rating to a “hold” rating in a research note on Thursday, December 30th. Alliance Global Partners raised its target price for Perficient shares from $125.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, October 28. Barrington Research has reformulated the “buy” rating and issued a $150.00 target price on shares of Perficient in a research note on Monday, December 13th. Maxim Group raised its price target for Perficient’s shares from $115.00 to $150.00 and assigned the company a “buy” rating in a research note on Monday, October 25th. Finally, Needham & Company LLC raised its price target on Perficient shares from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, October 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on MarketBeat data, the stock has a consensus rating of “buy” and an average price target of $142.17.

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Several large investors have recently modified their holdings of the business. Keybank National Association OH increased its ownership in shares of Perfection by 1.8% in the third quarter. Keybank National Association OH now owns 4,749 shares of the digital transformation consulting firm’s stock valued at $549,000 after acquiring an additional 83 shares during the period. Huntington National Bank increased its stake in Pervolen by 9.4% in the 3rd quarter. Huntington National Bank now owns 976 shares of the digital transformation consulting firm’s stock valued at $13,000 after acquiring an additional 84 shares during the period. US Bancorp DE increased its holdings in shares of Perfection by 5.4% in the third quarter. US Bancorp DE now owns 1,921 shares of the digital transformation consulting firm’s stock valued at $22,200,000 after acquiring an additional 99 shares during the period. Delta Capital Management LLC. of its stake in shares of Perfection by 2.0% in the 3rd quarter. Delta Capital Management now owns 5,170 shares of the digital transformation consulting firm’s stock valued at $598,000 after acquiring an additional 100 shares during this period. Finally, Handelsbanken Fonder AB increased its ownership in Perficient shares by 1.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,812 shares of the digital transformation consulting firm’s stock valued at $904,000 after acquiring an additional 100 shares during this period. 99.11% of the shares are currently owned by institutional investors.

Full company profile

Perfection, Inc is engaged in providing digital consulting services. Its service categories include strategy and consulting. Data and intelligence. platforms and technology; customer experience and digital marketing; innovation and product development; and optimum global delivery. The company was founded in 1998 and is headquartered in St.

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