Perficient (NASDAQ:PRFT) Rating Reiterated by Maxim Group

Perficient (NASDAQ:PRFT)‘s stock had its “hold” rating reissued by stock analysts at Maxim Group in a research note issued on Tuesday, Benzinga reports. They currently have a $76.00 target price on the digital transformation consultancy’s stock. Maxim Group’s price objective suggests a potential upside of 3.33% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Scotiabank lifted their target price on shares of Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a report on Monday. JPMorgan Chase & Co. cut their target price on Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. William Blair restated a “market perform” rating on shares of Perficient in a report on Monday. Alliance Global Partners upgraded shares of Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Tuesday, April 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Perficient in a report on Monday. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $70.43.

Perficient Stock Up 0.4 %

Shares of Perficient stock opened at $73.55 on Tuesday. The company’s fifty day simple moving average is $55.17 and its two-hundred day simple moving average is $61.60. Perficient has a 12-month low of $42.51 and a 12-month high of $96.93. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The company has a market cap of $2.58 billion, a P/E ratio of 26.65, a PEG ratio of 1.17 and a beta of 1.46.

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

Insider Buying and Selling at Perficient

In related news, CFO Paul E. Martin sold 3,664 shares of the company’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 $246,440.64. Following the transaction, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Paul E. Martin sold 3,664 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $246,440.64. Following the completion of the transaction, the chief financial officer now owns 212,642 shares of the company’s stock, valued at approximately $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 worth $885,619. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perficient

Large investors have recently bought and sold shares of the business. Congress Asset Management Co. MA increased its position in shares of Perficient by 69.1% in the third quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy’s stock valued at $79,766,000 after buying an additional 563,290 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Perficient during the third quarter worth $32,578,000. Wellington Management Group LLP lifted its holdings in Perficient by 26.2% during the fourth 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 stake in shares of Perficient in the fourth quarter valued at about $25,474,000. Finally, Norges Bank purchased a new stake in shares of Perficient during the fourth quarter worth about $23,950,000. 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.