Envestnet Asset Management Inc., an investment firm, has been actively increasing its stake in both Perficient, Inc. (NASDAQ:PRFT) and Dorman Products, Inc. (NASDAQ:DORM). In the case of Perficient, Envestnet Asset Management Inc. recently acquired an additional 142,427 shares, bringing its total stake in the company to 185,856 shares [9569ceae]. This represents a significant increase in Envestnet Asset Management Inc.'s holdings of Perficient. Other institutional investors and hedge funds have also made modifications to their holdings of Perficient. The stock has a 1-year low of $51.23 and a 1-year high of $96.93. Perficient reported earnings per share of $0.99 for the quarter, missing the consensus estimate of $1.01. The company's revenue for the quarter was $220.79 million, down 5.1% compared to the same quarter last year. Several research firms have commented on PRFT, with three rating the stock as a hold and two rating it as a buy. Insiders have sold 14,330 shares of company stock worth $961,900 in the last three months. The stock is currently owned by institutional investors.
In addition to Perficient, Envestnet Asset Management Inc. has also increased its stake in Dorman Products, Inc. by 47.0% in the 3rd quarter [d50da0d4]. Envestnet Asset Management Inc. now owns 145,412 shares of Dorman Products, Inc., after acquiring an additional 46,492 shares during the quarter. Dorman Products reported earnings per share of $1.57 for the quarter, beating the consensus estimate of $1.41 by $0.16. The company had revenue of $494.30 million during the quarter. Barrington Research has restated an "outperform" rating and upgraded shares of Dorman Products from a "hold" rating to a "buy" rating.
Envestnet Asset Management Inc. has been actively increasing its stake in both Perficient, Inc. and Dorman Products, Inc., indicating its confidence in the companies' performance and potential for growth in the future.