Perficient (NASDAQ:PRFT) PT Raised to $76.00 at Scotiabank

Perficient (NASDAQ:PRFT) had its price objective lifted by investment analysts at Scotiabank from $50.00 to $76.00 in a report released on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the digital transformation consultancy’s stock. Scotiabank’s price target suggests a potential upside of 3.71% from the company’s current price.

Several other research firms have also recently weighed in on PRFT. Needham & Company LLC restated a “hold” rating on shares of Perficient in a research report on Monday. Guggenheim assumed coverage on shares of Perficient in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price objective on the stock. Barrington Research restated an “outperform” rating and issued a $77.00 price objective on shares of Perficient in a research report on Monday, April 29th. William Blair reiterated a “market perform” rating on shares of Perficient in a research report on Monday. Finally, 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 note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $70.43.

Perficient Trading Up 0.0 %

Shares of PRFT opened at $73.28 on Monday. The business’s 50-day moving average price is $54.98 and its 200-day moving average price is $61.52. Perficient has a twelve month low of $42.51 and a twelve month high of $96.93. The stock has a market cap of $2.57 billion, a PE ratio of 26.55, a P/E/G ratio of 1.17 and a beta of 1.46. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. The company had revenue of $215.30 million for the quarter, compared to analysts’ expectations of $224.99 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. Perficient’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. On average, equities analysts forecast that Perficient will post 3.42 EPS for the current fiscal year.

Insider Activity

In related news, CEO Thomas J. Hogan sold 8,801 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 $591,955.26. Following the transaction, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Thomas J. Hogan sold 8,801 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 value of $591,955.26. Following the sale, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul E. Martin sold 3,664 shares of the company’s stock in a transaction that occurred 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 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. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Perficient

Several large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $11,740,000 after purchasing an additional 16,350 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Perficient by 328.0% in the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock worth $10,754,000 after buying an additional 142,427 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 worth $19,464,000 after buying an additional 16,817 shares in the last quarter. Townsquare Capital LLC raised its stake in Perficient by 389.3% in the third quarter. Townsquare Capital LLC now owns 37,028 shares of the digital transformation consultancy’s stock worth $2,142,000 after buying an additional 29,460 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Perficient in the fourth quarter worth about $1,145,000. 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.