Perficient (NASDAQ:PRFT) PT Lowered to $50.00

Perficient (NASDAQ:PRFT) had its price objective reduced by analysts at Scotiabank from $65.00 to $50.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “sector perform” rating on the digital transformation consultancy’s stock. Scotiabank’s target price would indicate a potential upside of 14.42% from the company’s current price.

PRFT has been the topic of several other reports. JPMorgan Chase & Co. raised their target price on Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Barrington Research reaffirmed an “outperform” rating and set a $77.00 target price on shares of Perficient in a research report on Monday. Alliance Global Partners raised Perficient from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Tuesday, April 23rd. Finally, Guggenheim began coverage on Perficient in a report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Perficient presently has an average rating of “Hold” and an average price target of $67.17.

Perficient Price Performance

Shares of PRFT traded up $0.71 during mid-day trading on Monday, reaching $43.70. The company had a trading volume of 346,230 shares, compared to its average volume of 233,900. The company’s 50 day simple moving average is $56.90 and its 200 day simple moving average is $61.68. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 1.05 and a beta of 1.43. Perficient has a 1-year low of $42.51 and a 1-year high of $96.93. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data 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 firm had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. Analysts expect that Perficient will post 3.42 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $246,440.64. Following the completion of the sale, the chief financial officer now owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Thomas J. Hogan sold 8,801 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $591,955.26. Following the completion of the transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The transaction was disclosed in a legal 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 transaction of $246,440.64. Following the sale, 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. Over the last 90 days, insiders have sold 13,149 shares of company stock worth $885,619. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Perficient

A number of institutional investors have recently added to or reduced their stakes in PRFT. GAMMA Investing LLC acquired a new position in Perficient during the fourth quarter worth $28,000. Parallel Advisors LLC lifted 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 valued at $35,000 after buying an additional 224 shares during the period. Principal Securities Inc. bought a new stake in Perficient in the 4th quarter worth about $41,000. NBC Securities Inc. bought a new stake in shares of Perficient during the 3rd quarter valued at about $38,000. Finally, Park Place Capital Corp lifted its holdings in Perficient by 41.1% in the 1st quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock worth $66,000 after purchasing an additional 344 shares in the last quarter. 95.00% of the stock is owned by institutional investors.

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.