Barrington Research Reaffirms “Market Perform” Rating for Perficient (NASDAQ:PRFT)

Perficient (NASDAQ:PRFT)‘s stock had its “market perform” rating reaffirmed by Barrington Research in a research report issued to clients and investors on Tuesday, Benzinga reports.

PRFT has been the subject of a number of other reports. Scotiabank boosted their price objective on Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a research report on Monday. Needham & Company LLC reissued a “hold” rating on shares of Perficient in a report on Monday. 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 report on Tuesday, April 23rd. William Blair reiterated a “market perform” rating on shares of Perficient in a report on Monday. Finally, Guggenheim started coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price on the stock. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $70.43.

Perficient Stock Performance

Shares of NASDAQ PRFT opened at $73.55 on Tuesday. The company has a market capitalization of $2.58 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. 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 company’s fifty day moving average price is $55.17 and its 200 day moving average price is $61.60. Perficient has a 1 year low of $42.51 and a 1 year high of $96.93.

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

Insider Activity

In related news, CFO Paul E. Martin sold 3,664 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $246,440.64. Following the completion of the sale, the chief financial officer now directly owns 212,642 shares in the company, valued at $14,302,300.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Kevin Thomas Sheen sold 684 shares of the business’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 directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $246,440.64. Following the sale, the chief financial officer now owns 212,642 shares of the company’s stock, valued at $14,302,300.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,149 shares of company stock valued at $885,619. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Perficient

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Perficient by 3.8% during the third quarter. Vanguard Group Inc. now owns 4,316,958 shares of the digital transformation consultancy’s stock worth $249,779,000 after buying an additional 158,842 shares during the period. Wellington Management Group LLP lifted its stake in Perficient by 26.2% during the 4th quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock worth $128,064,000 after acquiring an additional 404,154 shares in the last quarter. Congress Asset Management Co. MA boosted its holdings in Perficient by 5.3% during the 1st quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock valued at $78,871,000 after acquiring an additional 71,004 shares during the period. Victory Capital Management Inc. grew its position in Perficient by 12.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,161,771 shares of the digital transformation consultancy’s stock valued at $67,220,000 after acquiring an additional 130,099 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Perficient by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock worth $63,097,000 after purchasing an additional 14,606 shares during the period. 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.