StockNews.com Lowers Perficient (NASDAQ:PRFT) to Sell

Perficient (NASDAQ:PRFT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Other equities analysts have also issued research reports about the stock. Maxim Group restated a “hold” rating and set a $76.00 price target on shares of Perficient in a research report on Tuesday. Alliance Global Partners reissued a “neutral” rating on shares of Perficient in a research note on Tuesday. William Blair restated a “market perform” rating on shares of Perficient in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Guggenheim started coverage on Perficient in a report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price objective for the company. 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, the company presently has a consensus rating of “Hold” and an average price target of $70.43.

Perficient Stock Up 0.4 %

PRFT stock opened at $73.55 on Tuesday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.17 and a beta of 1.46. Perficient has a 1-year low of $42.51 and a 1-year high of $96.93. The firm has a fifty day moving average price of $55.17 and a two-hundred day moving average price of $61.60. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data 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 the consensus estimate of $224.99 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. Research analysts predict that Perficient will post 3.42 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total value of $47,223.36. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $591,955.26. Following the sale, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,149 shares of company stock worth $885,619. 2.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PRFT. ProShare Advisors LLC grew its position in Perficient by 6.7% during the first quarter. ProShare Advisors LLC now owns 7,157 shares of the digital transformation consultancy’s stock valued at $403,000 after purchasing an additional 447 shares in the last quarter. US Bancorp DE lifted its stake in shares of Perficient by 3.9% in the first quarter. US Bancorp DE now owns 19,162 shares of the digital transformation consultancy’s stock worth $1,079,000 after buying an additional 728 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Perficient by 9.7% during the 1st quarter. Inspire Investing LLC now owns 6,419 shares of the digital transformation consultancy’s stock worth $361,000 after buying an additional 568 shares during the period. Sei Investments Co. grew its stake in Perficient by 3.3% in the 1st quarter. Sei Investments Co. now owns 42,648 shares of the digital transformation consultancy’s stock valued at $2,401,000 after buying an additional 1,343 shares during the last quarter. Finally, Anchor Capital Advisors LLC grew its stake in Perficient by 31.4% in the 1st quarter. Anchor Capital Advisors LLC now owns 24,558 shares of the digital transformation consultancy’s stock valued at $1,382,000 after buying an additional 5,869 shares during the last quarter. Hedge funds and other institutional investors 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.