Perficient (NASDAQ:PRFT) Hits New 12-Month Low at $43.38

Perficient, Inc. (NASDAQ:PRFT) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $43.38 and last traded at $43.80, with a volume of 104958 shares trading hands. The stock had previously closed at $45.09.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PRFT. Barrington Research reiterated an “outperform” rating and issued a $77.00 price objective on shares of Perficient in a research report on Wednesday, February 28th. Guggenheim started coverage on Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price objective for the company. 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 note on Tuesday. Scotiabank reduced their price target on Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $69.67.

Perficient Stock Up 0.7 %

The stock has a 50 day moving average price of $57.44 and a 200 day moving average price of $61.80. The company has a market cap of $1.51 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.04 and a beta of 1.43. 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 issued its quarterly earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share 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 business had revenue of $220.79 million during the quarter, compared to analyst estimates of $223.79 million. During the same period in the previous year, the company posted $0.98 earnings per share. Perficient’s revenue was down 5.1% compared to the same quarter last year. Research analysts expect that Perficient, Inc. will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 value 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 is available at the SEC website. In other Perficient news, CFO Paul E. Martin sold 3,664 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 $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 $14,302,300.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas J. Hogan sold 8,801 shares of Perficient 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 completion of the transaction, 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. Insiders have sold 13,149 shares of company stock worth $885,619 in the last three months. 2.50% of the stock is currently owned by insiders.

Institutional Trading of Perficient

A number of hedge funds have recently modified their holdings of PRFT. GAMMA Investing LLC acquired a new stake in Perficient during the 4th quarter worth about $28,000. Parallel Advisors LLC grew 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 purchasing an additional 224 shares in the last quarter. Principal Securities Inc. acquired a new position in Perficient in the 4th quarter valued at approximately $41,000. NBC Securities Inc. acquired a new position in Perficient in the 3rd quarter valued at approximately $38,000. Finally, Park Place Capital Corp lifted its position 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 buying an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.

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.