Perficient (NASDAQ:PRFT) Earns “Market Perform” Rating from Barrington Research

Barrington Research restated their market perform rating on shares of Perficient (NASDAQ:PRFT) in a research report released on Tuesday morning, Benzinga reports.

Other analysts also recently issued reports about the company. Alliance Global Partners upgraded Perficient from a neutral rating to a buy rating and set a $67.00 price objective for the company in a report on Tuesday, April 23rd. Guggenheim started coverage on Perficient in a research report on Tuesday, March 19th. They set a neutral rating and a $65.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a report on Thursday, May 2nd. Scotiabank raised their price target on shares of Perficient from $50.00 to $76.00 and gave the stock a sector perform rating in a report on Monday. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Perficient in a research note on Monday. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, Perficient presently has an average rating of Hold and an average price target of $70.43.

Perficient Trading Up 0.0 %

PRFT opened at $73.28 on Tuesday. 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 twelve month low of $42.51 and a twelve month high of $96.93. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 1.17 and a beta of 1.46. The company has a 50-day simple moving average of $54.98 and a 200 day simple moving average of $61.52.

Perficient (NASDAQ:PRFT) last issued its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The firm had revenue of $215.30 million for the quarter, compared to the consensus estimate of $224.99 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. Analysts predict that Perficient will post 3.42 EPS for the current fiscal year.

Insider Activity at Perficient

In other news, CFO Paul E. Martin sold 3,664 shares of the business’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 $246,440.64. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Paul E. Martin sold 3,664 shares of Perficient 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 sale, the chief financial officer now directly owns 212,642 shares in the company, valued at approximately $14,302,300.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $47,223.36. Following the completion of the sale, the senior vice president now directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. Insiders have sold a total of 13,149 shares of company stock valued at $885,619 over the last 90 days. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Perficient

Institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in shares of Perficient by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 9,919 shares of the digital transformation consultancy’s stock valued at $574,000 after buying an additional 175 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Perficient by 3.8% in the 4th 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 during the period. Huntington National Bank lifted its holdings in Perficient by 10.5% during the third quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy’s stock valued at $130,000 after purchasing an additional 213 shares during the last quarter. Parallel Advisors LLC boosted its position in Perficient by 73.9% during the fourth 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 period. Finally, Comerica Bank increased its stake in shares of Perficient by 1.3% in the fourth quarter. Comerica Bank now owns 18,682 shares of the digital transformation consultancy’s stock worth $1,230,000 after purchasing an additional 235 shares in the last quarter. 95.00% of the stock is owned by institutional investors.

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.