Perficient (NASDAQ:PRFT) Shares Gap Up to $71.84

Perficient, Inc. (NASDAQ:PRFTGet Rating)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $71.84, but opened at $74.00. Perficient shares last traded at $73.10, with a volume of 550 shares traded.

Analysts Set New Price Targets

A number of research firms recently commented on PRFT. Alliance Global Partners upgraded Perficient from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $100.00 to $85.00 in a report on Tuesday, September 27th. Morgan Stanley lowered their price target on Perficient from $100.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, October 28th. JPMorgan Chase & Co. increased their price target on Perficient from $80.00 to $84.00 in a report on Thursday, December 15th. StockNews.com started coverage on Perficient in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Needham & Company LLC lowered their price target on Perficient from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Thursday, October 27th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Perficient has a consensus rating of “Moderate Buy” and an average target price of $91.38.

Perficient Stock Down 0.2 %

The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $2.60 billion, a P/E ratio of 32.79, a PEG ratio of 1.00 and a beta of 1.50. The firm has a 50-day moving average price of $70.57 and a two-hundred day moving average price of $76.25.

Perficient (NASDAQ:PRFTGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The digital transformation consultancy reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.02). Perficient had a net margin of 9.29% and a return on equity of 33.82%. The business had revenue of $227.61 million during the quarter, compared to the consensus estimate of $230.60 million. Equities research analysts anticipate that Perficient, Inc. will post 3.76 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ralph C. Derrickson bought 729 shares of Perficient stock in a transaction that occurred on Monday, November 21st. The stock was purchased at an average cost of $68.66 per share, with a total value of $50,053.14. Following the completion of the transaction, the director now directly owns 39,101 shares in the company, valued at $2,684,674.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ralph C. Derrickson bought 729 shares of Perficient stock in a transaction that occurred on Monday, November 21st. The stock was purchased at an average cost of $68.66 per share, with a total value of $50,053.14. Following the completion of the transaction, the director now directly owns 39,101 shares in the company, valued at $2,684,674.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David S. Lundeen sold 4,000 shares of the firm’s stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $71.42, for a total value of $285,680.00. Following the completion of the transaction, the director now directly owns 34,412 shares of the company’s stock, valued at $2,457,705.04. The disclosure for this sale can be found here. Insiders bought a total of 1,041 shares of company stock valued at $70,542 over the last ninety days. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue lifted its holdings in shares of Perficient by 0.6% during the fourth quarter. State of Alaska Department of Revenue now owns 24,112 shares of the digital transformation consultancy’s stock valued at $1,683,000 after acquiring an additional 155 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Perficient by 1.1% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,534 shares of the digital transformation consultancy’s stock valued at $1,333,000 after acquiring an additional 165 shares during the period. Inspire Investing LLC lifted its holdings in shares of Perficient by 6.8% during the second quarter. Inspire Investing LLC now owns 2,778 shares of the digital transformation consultancy’s stock valued at $255,000 after acquiring an additional 177 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Perficient by 151.3% during the second quarter. First Horizon Advisors Inc. now owns 299 shares of the digital transformation consultancy’s stock valued at $28,000 after acquiring an additional 180 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Perficient by 2.1% during the second quarter. BNP Paribas Arbitrage SA now owns 9,627 shares of the digital transformation consultancy’s stock valued at $883,000 after acquiring an additional 199 shares during the period. 90.60% of the stock is owned by institutional investors.

About Perficient

(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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