Perficient, Inc. (NASDAQ:PRFT) Given Average Rating of “Hold” by Brokerages

Shares of Perficient, Inc. (NASDAQ:PRFT) have earned an average rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $70.00.

PRFT has been the subject of several recent research reports. Barrington Research restated an “outperform” rating and set a $77.00 target price on shares of Perficient in a report on Wednesday, February 28th. Guggenheim initiated coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Finally, Scotiabank cut their price target on Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th.

Insiders Place Their Bets

In other news, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $246,440.64. Following the completion of the sale, the chief financial officer now owns 212,642 shares of the company’s stock, valued at $14,302,300.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Paul E. Martin sold 3,664 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $246,440.64. Following the completion of the transaction, the chief financial officer now owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the sale, the chief executive officer now directly owns 193,304 shares in the company, valued at $13,001,627.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,149 shares of company stock valued at $885,619 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of Perficient

Several institutional investors have recently made changes to their positions in PRFT. GAMMA Investing LLC acquired a new stake in Perficient during the 4th quarter worth approximately $28,000. Parallel Advisors LLC raised its stake in shares of Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after acquiring an additional 224 shares during the period. NBC Securities Inc. purchased a new position in shares of Perficient in the 3rd quarter valued at $38,000. Principal Securities Inc. acquired a new position in shares of Perficient during the 4th quarter valued at $41,000. Finally, Park Place Capital Corp purchased a new stake in Perficient during the 3rd quarter worth $69,000. 95.00% of the stock is owned by hedge funds and other institutional investors.

Perficient Price Performance

Shares of NASDAQ PRFT opened at $44.58 on Thursday. The company’s fifty day moving average is $60.57 and its two-hundred day moving average is $62.42. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15. The firm has a market capitalization of $1.56 billion, a P/E ratio of 16.15, a PEG ratio of 1.16 and a beta of 1.43. Perficient has a one year low of $44.49 and a one year high of $96.93.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). The firm had revenue of $220.79 million during the quarter, compared to analysts’ expectations of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. Analysts forecast that Perficient will post 3.42 EPS for the current fiscal year.

Perficient Company Profile

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, 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 portfolios.