William Blair Reaffirms “Market Perform” Rating for Perficient (NASDAQ:PRFT)

Perficient (NASDAQ:PRFT)‘s stock had its “market perform” rating reaffirmed by analysts at William Blair in a research note issued on Monday, Marketbeat reports.

A number of other equities research analysts have also weighed in on PRFT. Scotiabank decreased their target price on Perficient from $65.00 to $50.00 and set a “sector perform” rating for the company in a research report on Monday, April 29th. Guggenheim assumed coverage on Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price for the company. Alliance Global Partners raised Perficient from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Tuesday, April 23rd. Barrington Research reiterated an “outperform” rating and issued a $77.00 price target on shares of Perficient in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. cut their price target on Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, Perficient presently has an average rating of “Hold” and an average price target of $70.43.

Perficient Price Performance

Shares of PRFT stock opened at $73.28 on Monday. Perficient has a 52-week low of $42.51 and a 52-week high of $96.93. 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 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 stock has a 50 day moving average price of $54.98 and a 200 day moving average price of $61.52.

Perficient (NASDAQ:PRFT) last issued its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The business had revenue of $215.30 million during the quarter, compared to analyst estimates of $224.99 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. Perficient’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 EPS. As a group, sell-side analysts predict that Perficient will post 3.42 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Paul E. Martin sold 3,664 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 transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Paul E. Martin sold 3,664 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 transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 transaction, the chief executive officer now owns 193,304 shares in the company, valued at $13,001,627.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,149 shares of company stock worth $885,619 in the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Trading of Perficient

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRFT. Fidelis Capital Partners LLC acquired a new stake in Perficient during the 1st quarter worth about $25,000. GAMMA Investing LLC acquired a new stake in Perficient during the 4th quarter worth about $28,000. Parallel Advisors LLC lifted its position in Perficient by 73.9% during 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 during the period. NBC Securities Inc. acquired a new stake in Perficient during the 3rd quarter worth about $38,000. Finally, Principal Securities Inc. acquired a new stake in Perficient during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 95.00% of the company’s stock.

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.