Perficient (NASDAQ:PRFT) Given Neutral Rating at Alliance Global Partners

Perficient (NASDAQ:PRFT)‘s stock had its “neutral” rating reaffirmed by research analysts at Alliance Global Partners in a research note issued to investors on Tuesday, Benzinga reports.

Other equities research analysts have also issued research reports about the company. William Blair restated a “market perform” rating on shares of Perficient in a research report on Monday. Barrington Research reaffirmed a “market perform” rating on shares of Perficient in a report on Tuesday. 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. Maxim Group reissued a “hold” rating and issued a $76.00 price objective on shares of Perficient in a report on Tuesday. Finally, Guggenheim initiated coverage on Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price on the stock. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $70.43.

Perficient Trading Up 0.4 %

Perficient stock opened at $73.55 on Tuesday. Perficient has a 52 week low of $42.51 and a 52 week high of $96.93. The stock has a 50-day moving average price of $55.17 and a 200 day moving average price of $61.60. 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 market capitalization of $2.58 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The firm had revenue of $215.30 million for the quarter, compared to analyst estimates of $224.99 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Perficient will post 3.42 EPS for the current year.

Insider Buying and Selling at Perficient

In other news, CEO Thomas J. Hogan sold 8,801 shares of Perficient stock in a transaction 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 approximately $13,001,627.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction dated 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 owns 26,533 shares in the company, valued at $1,831,838.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas J. Hogan sold 8,801 shares of Perficient stock in a transaction that occurred 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 directly owns 193,304 shares in the company, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,149 shares of company stock worth $885,619. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Congress Asset Management Co. MA lifted its holdings in shares of Perficient by 69.1% during the third quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy’s stock worth $79,766,000 after purchasing an additional 563,290 shares during the period. William Blair Investment Management LLC purchased a new position in Perficient during the third quarter worth about $32,578,000. Wellington Management Group LLP boosted its holdings 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 in the last quarter. Ophir Asset Management Pty Ltd acquired a new position in Perficient during the 4th quarter worth approximately $25,474,000. Finally, Norges Bank purchased a new position in shares of Perficient during the 4th quarter worth approximately $23,950,000. 95.00% of the stock is currently owned by institutional investors and hedge funds.

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.