Perficient (NASDAQ:PRFT) Price Target Increased to $76.00 by Analysts at Scotiabank

Perficient (NASDAQ:PRFT) had its price target raised by Scotiabank from $50.00 to $76.00 in a report issued on Monday, Benzinga reports. The firm currently has a sector perform rating on the digital transformation consultancy’s stock.

Several other research firms have also recently weighed in on PRFT. Alliance Global Partners upgraded Perficient from a neutral rating to a buy rating and set a $67.00 target price for the company in a research note on Tuesday, April 23rd. Barrington Research reaffirmed an outperform rating and issued a $77.00 target price on shares of Perficient in a research report on Monday, April 29th. 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 for the company. Needham & Company LLC reaffirmed a hold rating on shares of Perficient in a report on Monday. Finally, William Blair reiterated a market perform rating on shares of Perficient in a research report on Monday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $69.50.

Perficient Stock Up 52.3 %

PRFT stock opened at $73.26 on Monday. The company’s 50 day moving average price is $54.81 and its 200 day moving average price is $61.39. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.17 and a beta of 1.46. Perficient has a fifty-two week low of $42.51 and a fifty-two week 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 Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $215.30 million for the quarter, compared to the consensus estimate of $224.99 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. On average, equities research analysts anticipate that Perficient will post 3.42 EPS for the current fiscal year.

Insider Activity at Perficient

In other Perficient news, CFO Paul E. Martin sold 3,664 shares of the 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 $246,440.64. Following the completion of the sale, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Perficient news, CFO Paul E. Martin sold 3,664 shares of the business’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 $246,440.64. Following the transaction, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. Insiders have sold 13,149 shares of company stock worth $885,619 in the last quarter. Company insiders own 2.10% 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 business. Fidelis Capital Partners LLC acquired a new position in shares of Perficient during the 1st quarter worth $25,000. GAMMA Investing LLC acquired a new position in Perficient during the fourth quarter worth about $28,000. Parallel Advisors LLC increased its holdings in Perficient by 73.9% in 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 in the last quarter. NBC Securities Inc. acquired a new stake in shares of Perficient during the 3rd quarter valued at approximately $38,000. Finally, Principal Securities Inc. purchased a new stake in shares of Perficient during the 4th quarter worth approximately $41,000. Hedge funds and other 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.