Perficient, Inc. (NASDAQ:PRFT) Receives Consensus Rating of “Buy” from Brokerages

Perficient, Inc. (NASDAQ:PRFTGet Rating) has been given an average recommendation of “Buy” by the nine brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $131.17.

PRFT has been the topic of a number of analyst reports. Barrington Research decreased their target price on shares of Perficient from $150.00 to $124.00 in a report on Friday, February 25th. TheStreet cut shares of Perficient from a “b” rating to a “c+” rating in a research note on Thursday, February 24th. Needham & Company LLC cut their price target on shares of Perficient from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Morgan Stanley began coverage on shares of Perficient in a research note on Tuesday. They issued an “equal weight” rating and a $120.00 price target for the company. Finally, Alliance Global Partners cut their price target on shares of Perficient from $138.00 to $122.00 in a research note on Monday, February 28th.

Perficient stock traded down $4.54 during midday trading on Tuesday, reaching $101.51. 1,279 shares of the stock were exchanged, compared to its average volume of 289,461. The company’s fifty day moving average is $105.94 and its 200-day moving average is $117.07. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a market cap of $3.52 billion, a PE ratio of 67.05, a PEG ratio of 1.60 and a beta of 1.51. Perficient has a 52 week low of $63.45 and a 52 week high of $153.28.

Perficient (NASDAQ:PRFTGet Rating) last posted its earnings results on Thursday, February 24th. The digital transformation consultancy reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.08. The business had revenue of $214.73 million for the quarter, compared to analyst estimates of $207.17 million. Perficient had a net margin of 6.84% and a return on equity of 24.49%. Perficient’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 EPS. On average, sell-side analysts anticipate that Perficient will post 3.72 earnings per share for the current fiscal year.

In other Perficient news, Director Gary Wimberly acquired 399 shares of the business’s stock in a transaction dated Monday, February 28th. The stock was bought at an average price of $100.00 per share, with a total value of $39,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Keybank National Association OH boosted its stake in shares of Perficient by 1.8% in the 3rd quarter. Keybank National Association OH now owns 4,749 shares of the digital transformation consultancy’s stock valued at $549,000 after purchasing an additional 83 shares in the last quarter. US Bancorp DE boosted its position in Perficient by 5.4% during the 3rd quarter. US Bancorp DE now owns 1,921 shares of the digital transformation consultancy’s stock valued at $222,000 after buying an additional 99 shares during the period. Handelsbanken Fonder AB boosted its position in Perficient by 1.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,812 shares of the digital transformation consultancy’s stock valued at $904,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its position in Perficient by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the digital transformation consultancy’s stock valued at $1,779,000 after buying an additional 100 shares during the period. Finally, Cooper Financial Group boosted its position in Perficient by 2.4% during the 1st quarter. Cooper Financial Group now owns 4,442 shares of the digital transformation consultancy’s stock valued at $489,000 after buying an additional 105 shares during the period. 95.62% of the stock is owned by institutional investors.

Perficient Company Profile (Get Rating)

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

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Analyst Recommendations for Perficient (NASDAQ:PRFT)

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