Perficient (NASDAQ:PRFT) Given New $59.00 Price Target at JPMorgan Chase & Co.

Perficient (NASDAQ:PRFT) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $71.00 to $59.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the digital transformation consultancy’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 22.64% from the stock’s previous close.

A number of other analysts also recently weighed in on PRFT. Guggenheim initiated coverage on shares of Perficient in a report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target for the company. Barrington Research reiterated an “outperform” rating and issued a $77.00 target price on shares of Perficient in a research note on Monday, April 29th. Scotiabank lowered their price target on Perficient from $65.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Monday, April 29th. Finally, Alliance Global Partners upgraded Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $65.17.

Perficient Trading Down 1.5 %

Shares of NASDAQ:PRFT opened at $48.11 on Thursday. 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 stock’s 50-day moving average is $55.12 and its 200-day moving average is $61.31. The company has a market cap of $1.69 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.15 and a beta of 1.46. Perficient has a 52-week low of $42.51 and a 52-week high of $96.93.

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

Insiders Place Their Bets

In other news, SVP Kevin Thomas Sheen sold 684 shares of the company’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 sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas J. Hogan sold 8,801 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 transaction of $591,955.26. Following the sale, the chief executive officer now owns 193,304 shares in the company, valued at $13,001,627.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares in the company, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. Insiders sold 13,149 shares of company stock worth $885,619 over the last three months. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Perficient

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new stake in shares of Perficient during the fourth quarter valued at approximately $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of Perficient in the 1st quarter valued at $25,000. Parallel Advisors LLC raised its position in shares of Perficient by 73.9% during the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after acquiring an additional 224 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Perficient during the fourth quarter valued at $41,000. Finally, NBC Securities Inc. bought a new position in Perficient in the third quarter valued at about $38,000. 95.00% of the stock is owned by institutional investors.

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.