Perficient (NASDAQ:PRFT) Sees Large Volume Increase

Perficient, Inc. (NASDAQ:PRFT) shares saw an uptick in trading volume on Tuesday . 669,741 shares traded hands during mid-day trading, an increase of 180% from the previous session’s volume of 239,621 shares.The stock last traded at $46.00 and had previously closed at $43.46.

Analyst Upgrades and Downgrades

PRFT has been the subject of several research reports. Guggenheim initiated coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price target for the company. Barrington Research reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Perficient in a research report on Monday. Alliance Global Partners raised shares of Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. increased their price objective on shares of Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, Scotiabank lowered their target price on Perficient from $65.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $67.17.

Perficient Stock Down 0.0 %

The company has a market cap of $1.66 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.15 and a beta of 1.46. 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 50-day moving average price of $55.92 and a 200 day moving average price of $61.50.

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

Insider Transactions at Perficient

In related news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 of the company’s stock, valued at approximately $1,831,838.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 document filed with the SEC, which can be accessed through this link. Also, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 $13,001,627.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,149 shares of company stock valued at $885,619. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Perficient

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Perficient by 10.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,360 shares of the digital transformation consultancy’s stock worth $11,740,000 after buying an additional 16,350 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Perficient by 328.0% during the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock worth $10,754,000 after acquiring an additional 142,427 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Perficient by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 336,403 shares of the digital transformation consultancy’s stock valued at $19,464,000 after purchasing an additional 16,817 shares in the last quarter. Townsquare Capital LLC raised its holdings in shares of Perficient by 389.3% during the third quarter. Townsquare Capital LLC now owns 37,028 shares of the digital transformation consultancy’s stock valued at $2,142,000 after purchasing an additional 29,460 shares during the period. Finally, 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 worth $249,779,000 after purchasing an additional 158,842 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.