Perficient (NASDAQ:PRFT) Trading Up 3.4%

Shares of Perficient, Inc. (NASDAQ:PRFT) shot up 3.4% on Friday . The stock traded as high as $45.11 and last traded at $45.11. 117,563 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 215,218 shares. The stock had previously closed at $43.64.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PRFT. Guggenheim began coverage on Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target for the company. Scotiabank reduced their price objective on 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 objective on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, Barrington Research reiterated an “outperform” rating and set a $77.00 price objective on shares of Perficient in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $70.00.

Perficient Price Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15. The company has a market capitalization of $1.57 billion, a PE ratio of 15.81, a P/E/G ratio of 1.09 and a beta of 1.43. The firm has a fifty day simple moving average of $60.05 and a 200 day simple moving average of $62.29.

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 analysts’ consensus estimates of $1.01 by ($0.02). The business had revenue of $220.79 million during the quarter, compared to analyst estimates of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. Equities analysts anticipate that Perficient, Inc. will post 3.42 EPS for the current year.

Insider Buying and Selling at Perficient

In related news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total value of $47,223.36. Following the sale, the senior vice president now directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Thomas J. Hogan sold 8,801 shares of the company’s 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 transaction, the chief executive officer now directly owns 193,304 shares in the company, valued at $13,001,627.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin Thomas Sheen sold 684 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 26,533 shares in the company, valued at $1,831,838.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,149 shares of company stock worth $885,619. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Stifel Financial Corp lifted its stake in Perficient by 3.4% during the fourth quarter. Stifel Financial Corp now owns 4,496 shares of the digital transformation consultancy’s stock worth $296,000 after purchasing an additional 146 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Perficient by 1.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 13,795 shares of the digital transformation consultancy’s stock valued at $963,000 after acquiring an additional 163 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Perficient by 1.8% in the third quarter. Arizona State Retirement System now owns 9,919 shares of the digital transformation consultancy’s stock valued at $574,000 after acquiring an additional 175 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Perficient by 2.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,627 shares of the digital transformation consultancy’s stock valued at $883,000 after acquiring an additional 199 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Perficient by 3.8% in the fourth quarter. Handelsbanken Fonder AB now owns 5,412 shares of the digital transformation consultancy’s stock valued at $356,000 after acquiring an additional 200 shares in the last quarter. 95.00% of the stock is currently owned by institutional investors and hedge funds.

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.