Perficient (NASDAQ:PRFT) Sees Strong Trading Volume After Analyst Upgrade

Shares of Perficient, Inc. (NASDAQ:PRFT) saw an uptick in trading volume on Tuesday after Scotiabank raised their price target on the stock from $50.00 to $76.00. Scotiabank currently has a sector perform rating on the stock. 563,640 shares changed hands during mid-day trading, an increase of 38% from the previous session’s volume of 407,238 shares.The stock last traded at $73.28 and had previously closed at $73.26.

PRFT has been the subject of a number of other research reports. William Blair restated a “market perform” rating on shares of Perficient in a research note on Monday. JPMorgan Chase & Co. dropped their target price on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Guggenheim began coverage on shares of Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target for the company. Alliance Global Partners raised shares of Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Tuesday, April 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Perficient in a research note on Monday. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, Perficient currently has an average rating of “Hold” and an average target price of $70.43.

Insider Activity at Perficient

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of Perficient 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the 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 sale, the senior vice president now directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Hogan sold 8,801 shares of the business’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 $591,955.26. Following the completion of the transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,149 shares of company stock valued at $885,619. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Perficient

Several hedge funds and other institutional investors have recently bought and sold shares of PRFT. GAMMA Investing LLC purchased a new position in shares of Perficient during the fourth quarter valued at approximately $28,000. Fidelis Capital Partners LLC bought a new stake in Perficient in the 1st quarter worth approximately $25,000. Parallel Advisors LLC raised its stake in Perficient by 73.9% during the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after buying an additional 224 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Perficient during the 4th quarter valued at $41,000. Finally, NBC Securities Inc. purchased a new position in shares of Perficient in the 3rd quarter worth $38,000. Institutional investors own 95.00% of the company’s stock.

Perficient Stock Up 0.0 %

The company has a market cap of $2.57 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average of $54.98 and a 200 day moving average of $61.52.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business had revenue of $215.30 million during the quarter, compared to the consensus estimate of $224.99 million. During the same period in the previous year, the company posted $0.89 EPS. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, research analysts anticipate that Perficient, Inc. will post 3.42 earnings per share for the current fiscal year.

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.