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

Shares of Perficient, Inc. (NASDAQ:PRFT) have earned a consensus rating of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $70.00.

Several equities analysts have recently commented on the company. Barrington Research restated an “outperform” rating and set a $77.00 price target on shares of Perficient in a research note on Wednesday, February 28th. Guggenheim initiated coverage on shares of Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price on the stock. Scotiabank reduced their price target on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th.

Insider Transactions at Perficient

In related news, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Paul E. Martin sold 3,664 shares of the business’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 in the company, valued at $14,302,300.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 shares of the company’s 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 transaction, the chief executive officer now owns 193,304 shares in the company, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,149 shares of company stock valued at $885,619 in the last 90 days. Insiders own 2.50% of the company’s stock.

Institutional Trading of Perficient

Several large investors have recently bought and sold shares of the stock. US Bancorp DE grew its holdings in shares of Perficient by 22.2% during the first quarter. US Bancorp DE now owns 2,282 shares of the digital transformation consultancy’s stock valued at $251,000 after buying an additional 415 shares during the last quarter. Natixis Advisors L.P. purchased a new position in shares of Perficient in the first quarter worth about $1,742,000. Bank of Montreal Can lifted its holdings in shares of Perficient by 7.1% during the first quarter. Bank of Montreal Can now owns 24,675 shares of the digital transformation consultancy’s stock worth $2,830,000 after purchasing an additional 1,639 shares during the period. MetLife Investment Management LLC boosted its position in Perficient by 56.4% in the first quarter. MetLife Investment Management LLC now owns 17,325 shares of the digital transformation consultancy’s stock valued at $1,907,000 after buying an additional 6,246 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in Perficient by 9.9% in the 1st quarter. Panagora Asset Management Inc. now owns 15,272 shares of the digital transformation consultancy’s stock worth $1,681,000 after buying an additional 1,372 shares during the period. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Perficient Trading Down 3.6 %

NASDAQ PRFT opened at $44.58 on Thursday. Perficient has a 12 month low of $44.49 and a 12 month high of $96.93. The company’s 50-day moving average price is $60.57 and its 200-day moving average price is $62.42. The stock has a market cap of $1.56 billion, a PE ratio of 16.15, a PEG ratio of 1.16 and a beta of 1.43. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75.

Perficient (NASDAQ:PRFT) last issued its 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 company had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. Perficient’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. Equities research analysts forecast that Perficient will post 3.42 earnings per share for the current year.

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.