Perficient (NASDAQ:PRFT) Reaches New 12-Month Low at $51.21

Shares of Perficient, Inc. (NASDAQ:PRFT) hit a new 52-week low on Friday . The company traded as low as $51.21 and last traded at $51.30, with a volume of 69400 shares changing hands. The stock had previously closed at $52.60.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PRFT. JPMorgan Chase & Co. lifted their price objective on shares of Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Guggenheim began coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price objective on the stock. Barrington Research reiterated an “outperform” rating and set a $77.00 price objective on shares of Perficient in a research note on Wednesday, February 28th. Finally, Scotiabank dropped their price objective on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $70.00.

Perficient Stock Down 1.9 %

The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 1.31 and a beta of 1.43. 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 has a 50-day moving average of $64.17 and a two-hundred day moving average of $62.97.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). Perficient had a return on equity of 23.39% and a net margin of 10.91%. The company had revenue of $220.79 million for the quarter, compared to the consensus estimate of $223.79 million. During the same quarter last year, the company posted $0.98 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Perficient, Inc. will post 3.43 earnings per share for the current year.

Insiders Place Their Bets

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 26,533 shares in the company, valued at approximately $1,831,838.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly 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 SEC, which is available at this link. Also, CEO Thomas J. Hogan sold 8,801 shares of the 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 completion of the transaction, 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. In the last quarter, 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

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in shares of Perficient in the 4th quarter valued at $28,000. Parallel Advisors LLC increased its stake in shares of Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after buying an additional 224 shares during the period. Principal Securities Inc. acquired a new stake in shares of Perficient in the 4th quarter valued at $41,000. NBC Securities Inc. acquired a new stake in shares of Perficient in the 3rd quarter valued at $38,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Perficient by 170.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,159 shares of the digital transformation consultancy’s stock valued at $97,000 after buying an additional 731 shares during the period. 95.00% of the stock is 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.