Perficient (NASDAQ:PRFT) Lifted to Buy at Alliance Global Partners

Alliance Global Partners upgraded shares of Perficient (NASDAQ:PRFT) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat reports. Alliance Global Partners currently has $67.00 price target on the digital transformation consultancy’s stock.

PRFT has been the topic of several other reports. Barrington Research restated an outperform rating and set a $77.00 target price on shares of Perficient in a research report on Wednesday, February 28th. JPMorgan Chase & Co. raised their price objective on Perficient from $68.00 to $71.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. Scotiabank dropped their target price on Perficient from $70.00 to $65.00 and set a sector perform rating for the company in a report on Wednesday, February 28th. Finally, Guggenheim started coverage on Perficient in a report on Tuesday, March 19th. They set a neutral rating and a $65.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $69.67.

Perficient Stock Up 0.8 %

PRFT opened at $45.48 on Tuesday. The company has a market capitalization of $1.60 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.09 and a beta of 1.43. The firm has a 50-day simple moving average of $58.51 and a two-hundred day simple moving average of $62.05. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. Perficient has a 52 week low of $43.39 and a 52 week high of $96.93.

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

Insider Transactions at Perficient

In related news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the transaction, the senior vice president now owns 26,533 shares in the company, valued at approximately $1,831,838.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total value of $47,223.36. Following the completion of the sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Paul E. Martin sold 3,664 shares of the 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 directly owns 212,642 shares in the company, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,149 shares of company stock worth $885,619. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Perficient

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in Perficient during the fourth quarter worth $28,000. Parallel Advisors LLC raised its position 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 worth $35,000 after acquiring an additional 224 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Perficient during the 3rd quarter worth $38,000. Principal Securities Inc. bought a new stake in Perficient during the fourth quarter valued at about $41,000. Finally, Park Place Capital Corp grew its stake in Perficient by 41.1% in the first quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock valued at $66,000 after purchasing an additional 344 shares during the last quarter. 95.00% of the stock is 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.