Perficient (NASDAQ:PRFT) Reaches New 52-Week Low at $44.19

Shares of Perficient, Inc. (NASDAQ:PRFT) reached a new 52-week low during trading on Thursday . The stock traded as low as $44.19 and last traded at $44.30, with a volume of 16599 shares changing hands. The stock had previously closed at $44.58.

Analyst Ratings Changes

Several analysts recently commented on PRFT shares. Barrington Research reiterated an “outperform” rating and issued a $77.00 price target on shares of Perficient in a research report on Wednesday, February 28th. Scotiabank cut their price objective on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. JPMorgan Chase & Co. upped their price target on shares of Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, Guggenheim assumed coverage on shares of Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Perficient Stock Down 0.6 %

The company has a market cap of $1.55 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 1.13 and a beta of 1.43. 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 business has a fifty day moving average price of $60.57 and a two-hundred day moving average price of $62.42.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data 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). Perficient had a net margin of 10.91% and a return on equity of 23.39%. The business had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. During the same period in the prior year, the company posted $0.98 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. On average, equities analysts predict that Perficient, Inc. will post 3.42 earnings per share for the current year.

Insider Activity at Perficient

In other Perficient news, CFO Paul E. Martin sold 3,664 shares of the stock in a transaction on 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 directly owns 212,642 shares in the company, valued at $14,302,300.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Paul E. Martin sold 3,664 shares of the firm’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 completion of the sale, 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 filing with the SEC, which is accessible through this link. Also, CEO Thomas J. Hogan sold 8,801 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were 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 in the company, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,149 shares of company stock worth $885,619. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perficient

Several institutional investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in Perficient in the 4th quarter valued at approximately $28,000. Parallel Advisors LLC increased its position in shares of 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 purchasing an additional 224 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Perficient during the 4th quarter worth approximately $41,000. NBC Securities Inc. bought a new position in shares of Perficient during the 3rd quarter worth approximately $38,000. Finally, Tower Research Capital LLC TRC boosted its stake in 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 purchasing an additional 731 shares during the period. Institutional investors own 95.00% of the company’s stock.

About Perficient

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.