Perficient (NASDAQ:PRFT) Hits New 12-Month Low at $44.19

Perficient, Inc. (NASDAQ:PRFT)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $44.19 and last traded at $44.30, with a volume of 16599 shares. The stock had previously closed at $44.58.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Guggenheim assumed coverage on Perficient in a report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Scotiabank dropped their target price on Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Finally, Barrington Research reissued an “outperform” rating and set a $77.00 target price on shares of Perficient in a report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Perficient has a consensus rating of “Hold” and a consensus target price of $70.00.

Perficient Price Performance

The company has a market cap of $1.57 billion, a P/E ratio of 16.23, a PEG ratio of 1.09 and a beta of 1.43. The company has a fifty day simple moving average of $59.51 and a 200-day simple moving average of $62.21. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). The company had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. Perficient’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS. On average, sell-side analysts predict that Perficient, Inc. will post 3.42 earnings per share for the current year.

Insider Buying and Selling at Perficient

In other Perficient news, CFO Paul E. Martin sold 3,664 shares of the company’s 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 transaction, the chief financial officer now owns 212,642 shares of the company’s stock, valued at $14,302,300.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the transaction, the senior vice president now directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Paul E. Martin sold 3,664 shares of Perficient 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 $246,440.64. Following the transaction, the chief financial officer now owns 212,642 shares in the company, valued at $14,302,300.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,149 shares of company stock valued at $885,619. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Perficient

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norden Group LLC grew its position in Perficient by 2,123.4% during the 1st quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy’s stock worth $5,499,000 after purchasing an additional 93,301 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Perficient by 40.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 250,383 shares of the digital transformation consultancy’s stock valued at $14,094,000 after acquiring an additional 72,023 shares in the last quarter. Congress Wealth Management LLC DE grew its holdings in shares of Perficient by 36.6% during the 1st quarter. Congress Wealth Management LLC DE now owns 157,396 shares of the digital transformation consultancy’s stock valued at $8,860,000 after acquiring an additional 42,194 shares in the last quarter. Park Place Capital Corp grew its holdings in shares of Perficient by 41.1% during the 1st quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock valued at $66,000 after acquiring an additional 344 shares in the last quarter. Finally, Bridge City Capital LLC grew its holdings in shares of Perficient by 35.6% during the 1st quarter. Bridge City Capital LLC now owns 34,872 shares of the digital transformation consultancy’s stock valued at $1,963,000 after acquiring an additional 9,163 shares in the last quarter. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

About Perficient

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.