Perficient (NASDAQ:PRFT) Rating Reiterated by Needham & Company LLC

Perficient (NASDAQ:PRFT)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a research note issued on Monday, Benzinga reports.

Other equities research analysts also recently issued reports about the stock. 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 note on Tuesday, April 23rd. Scotiabank lowered 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 note on Monday, April 29th. JPMorgan Chase & Co. decreased their target price on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday. Barrington Research restated an “outperform” rating and set a $77.00 target price on shares of Perficient in a research report on Monday, April 29th. Finally, Guggenheim began coverage on shares of Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price for the company. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.17.

Perficient Stock Up 53.0 %

PRFT stock traded up $25.49 during trading on Monday, hitting $73.60. 7,833,080 shares of the company’s stock traded hands, compared to its average volume of 362,894. The firm has a market capitalization of $2.58 billion, a P/E ratio of 26.67, a PEG ratio of 1.17 and a beta of 1.46. The business has a fifty day simple moving average of $54.70 and a two-hundred day simple moving average of $61.28. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. Perficient has a 1 year low of $42.51 and a 1 year high of $96.93.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data 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 net margin of 10.91% and a return on equity of 23.39%. The business had revenue of $220.79 million for the quarter, compared to analysts’ expectations of $223.79 million. During the same period in the previous year, the business earned $0.98 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Perficient will post 3.42 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the sale, the chief executive officer now owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Thomas J. Hogan sold 8,801 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the sale, the chief executive officer now owns 193,304 shares in the company, valued at approximately $13,001,627.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul E. Martin sold 3,664 shares of the firm’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 transaction of $246,440.64. Following the sale, the chief financial officer now owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,149 shares of company stock worth $885,619. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Perficient

Hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund Corp boosted its position in Perficient by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 30,432 shares of the digital transformation consultancy’s stock valued at $1,713,000 after buying an additional 407 shares during the period. Fidelis Capital Partners LLC purchased a new position in Perficient in the 1st quarter valued at approximately $25,000. BNP Paribas Financial Markets boosted its position in Perficient by 36.8% in the 1st quarter. BNP Paribas Financial Markets now owns 34,266 shares of the digital transformation consultancy’s stock valued at $1,929,000 after buying an additional 9,222 shares during the period. Norden Group LLC boosted its position in Perficient by 47.4% in the 1st quarter. Norden Group LLC now owns 6,477 shares of the digital transformation consultancy’s stock valued at $365,000 after buying an additional 2,083 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Perficient by 40.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 250,383 shares of the digital transformation consultancy’s stock valued at $14,094,000 after buying an additional 72,023 shares during the period. Hedge funds and other institutional investors 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.