Perficient, Inc. (NASDAQ:PRFT) Receives Average Rating of “Hold” from Brokerages

Shares of Perficient, Inc. (NASDAQ:PRFT) have earned an average recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $70.00.

PRFT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Barrington Research reissued an “outperform” rating and set a $77.00 target price on shares of Perficient in a research note on Wednesday, February 28th. Guggenheim assumed coverage on shares of Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target on the stock. Finally, Scotiabank cut their price objective on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th.

Perficient Stock Up 0.7 %

PRFT stock opened at $45.12 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15. The firm has a market capitalization of $1.58 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.09 and a beta of 1.43. Perficient has a 52-week low of $43.39 and a 52-week high of $96.93. The company’s 50 day simple moving average is $58.96 and its 200-day simple moving average is $62.17.

Perficient (NASDAQ:PRFT) last released 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). Perficient had a net margin of 10.91% and a return on equity of 23.39%. The business had revenue of $220.79 million during the quarter, compared to analysts’ expectations of $223.79 million. During the same quarter in the previous year, the company earned $0.98 EPS. Perficient’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities research analysts anticipate that Perficient will post 3.42 EPS for the current year.

Insider Transactions at Perficient

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total value of $47,223.36. Following the sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Thomas J. Hogan sold 8,801 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 transaction of $591,955.26. Following the sale, the chief executive officer now directly owns 193,304 shares in the company, valued at approximately $13,001,627.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin Thomas Sheen sold 684 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were 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. Over the last ninety days, insiders have sold 13,149 shares of company stock worth $885,619. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Perficient

A number of institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its stake in Perficient by 1.8% in 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 in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of 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 purchasing an additional 200 shares in the last quarter. Huntington National Bank grew its holdings in shares of Perficient by 10.5% in the 3rd quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy’s stock worth $130,000 after purchasing an additional 213 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Perficient by 73.9% during the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after purchasing an additional 224 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Perficient by 1.3% during the 4th quarter. Comerica Bank now owns 18,682 shares of the digital transformation consultancy’s stock valued at $1,230,000 after purchasing an additional 235 shares during the last quarter. 95.00% of the stock is owned by institutional investors and hedge funds.

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.