News coverage about Perficient (NASDAQ:PRFT) has trended somewhat positive this week, according to Accern Sentiment. The research group ranks the sentiment of news coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Perficient earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned headlines about the digital transformation consultancy an impact score of 46.0603299193913 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Perficient from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Saturday, May 5th. ValuEngine upgraded Perficient from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 27th. BidaskClub upgraded Perficient from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 27th. Maxim Group restated a “hold” rating on shares of Perficient in a research note on Monday, April 23rd. Finally, SunTrust Banks boosted their price objective on Perficient to $26.00 and gave the company a “buy” rating in a research note on Monday, March 5th. One analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Perficient presently has an average rating of “Buy” and an average price target of $26.25.
Shares of Perficient opened at $25.45 on Friday, MarketBeat Ratings reports. The company has a market cap of $892.23 million, a P/E ratio of 26.79 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 has a 12-month low of $16.70 and a 12-month high of $25.68.
Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Tuesday, May 1st. The digital transformation consultancy reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The company had revenue of $120.94 million during the quarter, compared to the consensus estimate of $115.90 million. Perficient had a return on equity of 9.70% and a net margin of 4.20%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. sell-side analysts expect that Perficient will post 1.15 earnings per share for the current year.
Perficient declared that its Board of Directors has initiated a share buyback plan on Thursday, March 1st that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the digital transformation consultancy to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, CFO Paul E. Martin sold 18,774 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $23.21, for a total value of $435,744.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey S. Davis sold 4,649 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $23.88, for a total value of $111,018.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 166,385 shares of company stock valued at $3,942,846. 3.70% of the stock is currently owned by corporate insiders.
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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