Perficient (NASDAQ:PRFT) Earns Hold Rating from Needham & Company LLC

Perficient (NASDAQ:PRFT)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a research note issued to investors on Monday, Benzinga reports.

Several other equities analysts have also weighed in on PRFT. Scotiabank cut their price objective on shares of Perficient from $65.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, April 29th. Guggenheim initiated coverage on Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target on the stock. 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 report on Tuesday, April 23rd. Barrington Research reissued an “outperform” rating and issued a $77.00 target price on shares of Perficient in a research note on Monday, April 29th. Finally, William Blair restated a “market perform” rating on shares of Perficient in a research report on Monday. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $70.43.

Perficient Trading Up 0.0 %

PRFT stock opened at $73.28 on Monday. 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 twelve month low of $42.51 and a twelve month high of $96.93. The company has a market cap of $2.57 billion, a P/E ratio of 26.55, a PEG ratio of 1.17 and a beta of 1.46. The business has a fifty day moving average of $54.98 and a 200-day moving average of $61.52.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The firm had revenue of $215.30 million during the quarter, compared to analyst estimates of $224.99 million. During the same period last year, the company earned $0.89 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. As a group, equities research analysts expect that Perficient will post 3.42 EPS for the current year.

Insider Activity

In other news, CFO Paul E. Martin sold 3,664 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Paul E. Martin sold 3,664 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. Insiders sold 13,149 shares of company stock valued at $885,619 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Perficient

Institutional investors have recently added to or reduced their stakes in the stock. Congress Asset Management Co. MA lifted its position in Perficient by 69.1% during the 3rd quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy’s stock worth $79,766,000 after buying an additional 563,290 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Perficient in the 3rd quarter valued at about $32,578,000. Wellington Management Group LLP lifted its stake in Perficient by 26.2% in the 4th quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after purchasing an additional 404,154 shares during the last quarter. Ophir Asset Management Pty Ltd acquired a new stake in Perficient in the 4th quarter valued at about $25,474,000. Finally, Norges Bank acquired a new stake in Perficient in the 4th quarter valued at about $23,950,000. 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.