Perficient, Inc. (NASDAQ:PRFT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Perficient, Inc. (NASDAQ:PRFT) have been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $69.67.

A number of research analysts recently weighed in on PRFT shares. Scotiabank decreased their target price on Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. JPMorgan Chase & Co. upped their price objective on shares of Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Guggenheim assumed coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price for the company. Barrington Research reiterated an “outperform” rating and issued a $77.00 price target on shares of Perficient in a research note on Wednesday, February 28th. Finally, Alliance Global Partners upgraded 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.

Insider Buying and Selling

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

Institutional Investors Weigh In On Perficient

Several institutional investors and hedge funds have recently bought and sold shares of PRFT. Norden Group LLC raised its position in shares of Perficient by 2,123.4% in the 1st quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy’s stock valued at $5,499,000 after buying an additional 93,301 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Perficient by 40.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 250,383 shares of the digital transformation consultancy’s stock valued at $14,094,000 after purchasing an additional 72,023 shares in the last quarter. Congress Wealth Management LLC DE raised its position in Perficient by 36.6% during the first quarter. Congress Wealth Management LLC DE now owns 157,396 shares of the digital transformation consultancy’s stock valued at $8,860,000 after purchasing an additional 42,194 shares in the last quarter. Park Place Capital Corp lifted its stake in Perficient by 41.1% during the first quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock worth $66,000 after purchasing an additional 344 shares during the last quarter. Finally, Bridge City Capital LLC boosted its holdings in shares of Perficient by 35.6% in the 1st quarter. Bridge City Capital LLC now owns 34,872 shares of the digital transformation consultancy’s stock valued at $1,963,000 after purchasing an additional 9,163 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.

Perficient Price Performance

Shares of PRFT opened at $45.09 on Thursday. 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 company’s fifty day simple moving average is $58.51 and its 200 day simple moving average is $62.05. Perficient has a 1-year low of $43.39 and a 1-year high of $96.93. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.10 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last issued its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The firm had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. 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 company posted $0.98 earnings per share. On average, research analysts forecast that Perficient will post 3.42 earnings per share for the current fiscal year.

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.