Perficient (NASDAQ:PRFT) Sees Strong Trading Volume

Perficient, Inc. (NASDAQ:PRFT) shares saw unusually-strong trading volume on Tuesday . Approximately 669,741 shares were traded during trading, an increase of 180% from the previous session’s volume of 239,621 shares.The stock last traded at $46.00 and had previously closed at $43.46.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PRFT shares. Barrington Research reissued an “outperform” rating and issued a $77.00 price objective on shares of Perficient in a research report on Monday. Guggenheim started coverage on shares of Perficient in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Alliance Global Partners raised shares of Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Tuesday, April 23rd. Finally, Scotiabank cut their price objective on shares of Perficient from $65.00 to $50.00 and set a “sector perform” rating for the company in a research report on Monday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Perficient has an average rating of “Hold” and a consensus target price of $67.17.

Perficient Trading Up 9.3 %

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 firm’s 50 day simple moving average is $56.36 and its 200-day simple moving average is $61.57. The company has a market capitalization of $1.67 billion, a PE ratio of 17.22, a P/E/G ratio of 1.05 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last announced its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). The firm had revenue of $220.79 million during the quarter, compared to analysts’ expectations of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. Perficient’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. As a group, equities research analysts anticipate that Perficient, Inc. will post 3.42 EPS for the current year.

Insider Activity

In other news, CFO Paul E. Martin sold 3,664 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 $246,440.64. Following the completion of the transaction, the chief financial officer now directly owns 212,642 shares in the company, valued at $14,302,300.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction on 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 owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul E. Martin sold 3,664 shares of the business’s stock in a transaction on 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 approximately $14,302,300.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,149 shares of company stock worth $885,619. 2.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Perficient

Several institutional investors and hedge funds have recently made changes to their positions in PRFT. GAMMA Investing LLC acquired a new position 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 buying an additional 224 shares in the last quarter. Principal Securities Inc. acquired a new position in Perficient during the 4th quarter worth about $41,000. NBC Securities Inc. acquired a new position in Perficient during the 3rd quarter worth about $38,000. Finally, Park Place Capital Corp lifted its position in Perficient by 41.1% during the 1st quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock worth $66,000 after buying an additional 344 shares in the last quarter. 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.