Perficient (NASDAQ:PRFT) Upgraded to Buy at Alliance Global Partners

Alliance Global Partners upgraded shares of Perficient (NASDAQ:PRFT) from a neutral rating to a buy rating in a research note released on Tuesday morning, MarketBeat reports. The brokerage currently has $67.00 price objective on the digital transformation consultancy’s stock.

A number of other equities analysts have also recently issued reports on the stock. 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. Barrington Research reissued an outperform rating and set a $77.00 price objective on shares of Perficient in a research report on Wednesday, February 28th. Guggenheim initiated coverage on shares of Perficient in a research report on Tuesday, March 19th. They issued a neutral rating and a $65.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Perficient from $68.00 to $71.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Perficient currently has an average rating of Hold and an average target price of $69.67.

Perficient Stock Performance

Shares of PRFT opened at $42.70 on Tuesday. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1.50 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43. The firm’s fifty day simple moving average is $58.01 and its two-hundred day simple moving average is $61.94. Perficient has a 12 month low of $42.51 and a 12 month high of $96.93.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The firm had revenue of $220.79 million for the quarter, compared to the consensus estimate of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. As a group, analysts predict that Perficient will post 3.42 EPS for the current year.

Insider Transactions at Perficient

In other news, CFO Paul E. Martin sold 3,664 shares of the 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 completion of the transaction, the chief financial officer now owns 212,642 shares in the company, valued at approximately $14,302,300.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total value of $47,223.36. Following the completion of the transaction, the senior vice president now owns 26,533 shares in the company, valued at approximately $1,831,838.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul E. Martin sold 3,664 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $246,440.64. Following the completion of the transaction, 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. In the last 90 days, insiders sold 13,149 shares of company stock worth $885,619. 2.50% of the stock is owned by company insiders.

Institutional Trading of Perficient

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Perficient by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,316,958 shares of the digital transformation consultancy’s stock valued at $249,779,000 after acquiring an additional 158,842 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Perficient by 26.2% during the 4th quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after buying an additional 404,154 shares in the last quarter. Congress Asset Management Co. MA raised its holdings in shares of Perficient by 5.3% during the 1st quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock valued at $78,871,000 after buying an additional 71,004 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Perficient by 12.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,161,771 shares of the digital transformation consultancy’s stock valued at $67,220,000 after buying an additional 130,099 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Perficient by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock valued at $63,097,000 after buying an additional 14,606 shares in the last quarter. 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.