Perficient (NASDAQ:PRFT) PT Raised to $76.00

Perficient (NASDAQ:PRFT) had its target price hoisted by investment analysts at Scotiabank from $50.00 to $76.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the digital transformation consultancy’s stock. Scotiabank’s price target would indicate a potential upside of 3.71% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Barrington Research restated an “outperform” rating and issued a $77.00 target price on shares of Perficient in a research note on Monday, April 29th. 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 note on Tuesday, April 23rd. JPMorgan Chase & Co. dropped their target price on Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of Perficient in a research report on Monday. Finally, Guggenheim started coverage on shares of Perficient in a report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, Perficient currently has a consensus rating of “Hold” and a consensus price target of $70.43.

Perficient Trading Up 0.0 %

Shares of NASDAQ:PRFT opened at $73.28 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15. The firm has a market capitalization of $2.57 billion, a P/E ratio of 26.55, a P/E/G ratio of 1.17 and a beta of 1.46. The business’s 50-day moving average is $54.98 and its 200 day moving average is $61.52. Perficient has a 1 year low of $42.51 and a 1 year high of $96.93.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $215.30 million during the quarter, compared to analyst estimates of $224.99 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. Perficient’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. On average, research analysts predict 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 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 sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the 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 transaction, 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 accessible through the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $1,831,838.32. The disclosure for this sale can be found here. Insiders have sold 13,149 shares of company stock valued at $885,619 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Perficient

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Perficient by 10.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,360 shares of the digital transformation consultancy’s stock valued at $11,740,000 after purchasing an additional 16,350 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Perficient by 328.0% during the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock valued at $10,754,000 after acquiring an additional 142,427 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Perficient by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 336,403 shares of the digital transformation consultancy’s stock worth $19,464,000 after acquiring an additional 16,817 shares during the last quarter. Townsquare Capital LLC increased its position in shares of Perficient by 389.3% during the third quarter. Townsquare Capital LLC now owns 37,028 shares of the digital transformation consultancy’s stock worth $2,142,000 after purchasing an additional 29,460 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Perficient in the 4th quarter valued at $1,145,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.

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.