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

Shares of Perficient, Inc. (NASDAQ:PRFTGet Rating) have received a consensus rating of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $127.29.

PRFT has been the topic of several recent research reports. Barrington Research cut their price target on Perficient from $150.00 to $124.00 in a research note on Friday, February 25th. Alliance Global Partners cut their target price on Perficient from $138.00 to $122.00 in a research note on Monday, February 28th. TheStreet upgraded Perficient from a “c+” rating to a “b-” rating in a research note on Thursday, April 28th. StockNews.com assumed coverage on Perficient in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Morgan Stanley began coverage on Perficient in a research note on Tuesday, April 26th. They set an “equal weight” rating and a $120.00 target price on the stock.

Perficient stock opened at $96.81 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $3.35 billion, a P/E ratio of 52.33, a PEG ratio of 1.42 and a beta of 1.50. The stock’s 50 day moving average is $104.66 and its 200 day moving average is $113.58. Perficient has a twelve month low of $71.13 and a twelve month high of $153.28.

Perficient (NASDAQ:PRFTGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The digital transformation consultancy reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.02. The company had revenue of $222.11 million for the quarter, compared to the consensus estimate of $219.66 million. Perficient had a return on equity of 27.60% and a net margin of 8.07%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 EPS. As a group, equities analysts expect that Perficient will post 3.76 EPS for the current year.

In related news, Director Gary Wimberly bought 399 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were bought at an average cost of $100.00 per share, with a total value of $39,900.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PRFT. Dupont Capital Management Corp bought a new stake in Perficient during the fourth quarter valued at about $1,468,000. Pinnacle Associates Ltd. bought a new stake in Perficient during the fourth quarter valued at about $236,000. Goldman Sachs Group Inc. raised its holdings in Perficient by 19.5% during the third quarter. Goldman Sachs Group Inc. now owns 152,603 shares of the digital transformation consultancy’s stock valued at $17,657,000 after acquiring an additional 24,855 shares during the period. ARGI Investment Services LLC raised its holdings in Perficient by 9.5% during the fourth quarter. ARGI Investment Services LLC now owns 17,660 shares of the digital transformation consultancy’s stock valued at $2,283,000 after acquiring an additional 1,537 shares during the period. Finally, MML Investors Services LLC bought a new stake in Perficient during the third quarter valued at about $245,000. 89.37% of the stock is currently 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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