Perficient (NASDAQ:PRFT) Receives Neutral Rating from Alliance Global Partners

Alliance Global Partners reiterated their neutral rating on shares of Perficient (NASDAQ:PRFT) in a report released on Tuesday morning, Benzinga reports.

Several other brokerages have also recently commented on PRFT. JPMorgan Chase & Co. decreased their price target on shares of Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. William Blair reissued a market perform rating on shares of Perficient in a research note on Monday. Barrington Research reaffirmed a market perform rating on shares of Perficient in a research note on Tuesday. Needham & Company LLC reiterated a hold rating on shares of Perficient in a research report on Monday. Finally, 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 on the stock. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, Perficient has a consensus rating of Hold and an average target price of $70.43.

Perficient Stock Performance

NASDAQ PRFT opened at $73.28 on Tuesday. 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 has a twelve month low of $42.51 and a twelve month high of $96.93. The business has a 50-day moving average price of $54.98 and a 200-day moving average price of $61.52. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The business had revenue of $215.30 million during the quarter, compared to analyst estimates of $224.99 million. During the same period last year, the firm posted $0.89 EPS. The company’s revenue was down 7.0% on a year-over-year basis. As a group, equities research analysts predict that Perficient will post 3.42 EPS for the current fiscal year.

Insider Activity

In related news, SVP Kevin Thomas Sheen sold 684 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the transaction, the senior vice president now directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Paul E. Martin sold 3,664 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 212,642 shares in the company, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,149 shares of company stock valued at $885,619. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRFT. Congress Asset Management Co. MA raised its holdings in Perficient by 69.1% in the third quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy’s stock worth $79,766,000 after purchasing an additional 563,290 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Perficient during the third quarter valued at approximately $32,578,000. Wellington Management Group LLP boosted its stake in Perficient by 26.2% in the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after acquiring an additional 404,154 shares in the last quarter. Ophir Asset Management Pty Ltd purchased a new position in Perficient in the fourth quarter worth $25,474,000. Finally, Norges Bank acquired a new position in shares of Perficient during the fourth quarter worth $23,950,000. 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.