Perficient (NASDAQ:PRFT) Director Gary Wimberly acquired 4,945 shares of Perficient stock in a transaction that occurred on Wednesday, May 23rd. The stock was acquired at an average cost of $25.33 per share, for a total transaction of $125,256.85. Following the completion of the purchase, the director now directly owns 3,945 shares of the company’s stock, valued at $99,926.85. The acquisition was disclosed in a filing with the SEC, which is available through this link.
NASDAQ:PRFT traded down $0.05 during trading hours on Friday, hitting $25.45. The company’s stock had a trading volume of 135,004 shares, compared to its average volume of 253,074. Perficient has a twelve month low of $16.70 and a twelve month high of $25.68. The firm has a market capitalization of $893.97 million, a PE ratio of 23.83 and a beta of 0.68. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.15.
Perficient (NASDAQ:PRFT) last announced its quarterly earnings results on Tuesday, May 1st. The digital transformation consultancy reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Perficient had a return on equity of 9.70% and a net margin of 4.20%. The firm had revenue of $120.94 million for the quarter, compared to analyst estimates of $115.90 million. During the same period last year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. analysts anticipate that Perficient will post 1.15 EPS for the current fiscal year.
Perficient announced that its Board of Directors has approved a share buyback plan on Thursday, March 1st that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the digital transformation consultancy to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several hedge funds have recently made changes to their positions in PRFT. Millennium Management LLC boosted its stake in shares of Perficient by 131.3% during the first quarter. Millennium Management LLC now owns 607,772 shares of the digital transformation consultancy’s stock valued at $13,930,000 after purchasing an additional 344,959 shares in the last quarter. Intrinsic Edge Capital Management LLC boosted its stake in shares of Perficient by 194.2% during the first quarter. Intrinsic Edge Capital Management LLC now owns 189,352 shares of the digital transformation consultancy’s stock valued at $4,340,000 after purchasing an additional 125,000 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Perficient during the fourth quarter worth about $2,031,000. BlackRock Inc. raised its position in shares of Perficient by 2.3% during the fourth quarter. BlackRock Inc. now owns 4,457,487 shares of the digital transformation consultancy’s stock worth $85,003,000 after acquiring an additional 98,730 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Perficient by 155.9% during the fourth quarter. Deutsche Bank AG now owns 138,194 shares of the digital transformation consultancy’s stock worth $2,633,000 after acquiring an additional 84,186 shares during the last quarter. 79.94% of the stock is currently owned by hedge funds and other institutional investors.
PRFT has been the topic of several research analyst reports. TheStreet raised Perficient from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. Maxim Group reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Perficient in a research note on Friday, February 16th. BidaskClub raised Perficient from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Perficient in a research note on Thursday, March 1st. Finally, ValuEngine raised Perficient from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.25.
Perficient Company Profile
Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.
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