Perficient (NASDAQ:PRFT) Upgraded at Alliance Global Partners

Alliance Global Partners upgraded shares of Perficient (NASDAQ:PRFT) from a neutral rating to a buy rating in a report published on Tuesday, Marketbeat reports. The brokerage currently has $67.00 price target on the digital transformation consultancy’s stock.

Several other analysts also recently commented on the company. Scotiabank dropped their price objective on Perficient from $70.00 to $65.00 and set a sector perform rating on the stock in a research note on Wednesday, February 28th. Barrington Research reaffirmed an outperform rating and set a $77.00 price objective on shares of Perficient in a research note on Wednesday, February 28th. Guggenheim started coverage on Perficient in a research note on Tuesday, March 19th. They issued a neutral rating and a $65.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Perficient from $68.00 to $71.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $69.67.

Perficient Stock Performance

PRFT stock opened at $42.70 on Tuesday. The company has a market cap of $1.50 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43. Perficient has a twelve month low of $42.51 and a twelve month high of $96.93. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. The business’s fifty day moving average is $58.01 and its 200-day moving average is $61.94.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Tuesday, February 27th. The digital transformation consultancy reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). The business had revenue of $220.79 million for the quarter, compared to analyst estimates of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. Equities research analysts forecast that Perficient will post 3.42 EPS for the current year.

Insider Activity at Perficient

In related news, CEO Thomas J. Hogan sold 8,801 shares of Perficient 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 owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $246,440.64. Following the sale, the chief financial officer now owns 212,642 shares of the company’s stock, valued at $14,302,300.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 in the company, valued at approximately $13,001,627.04. 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. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Perficient

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Perficient by 3.8% during the third quarter. Vanguard Group Inc. now owns 4,316,958 shares of the digital transformation consultancy’s stock worth $249,779,000 after buying an additional 158,842 shares during the last quarter. Wellington Management Group LLP increased its position in Perficient by 26.2% during the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock worth $128,064,000 after buying an additional 404,154 shares during the last quarter. Congress Asset Management Co. MA increased its position in Perficient by 5.3% during the first quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock worth $78,871,000 after buying an additional 71,004 shares during the last quarter. Victory Capital Management Inc. increased its position in Perficient by 12.6% during the third quarter. Victory Capital Management Inc. now owns 1,161,771 shares of the digital transformation consultancy’s stock worth $67,220,000 after buying an additional 130,099 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Perficient by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock worth $63,097,000 after buying an additional 14,606 shares during the last quarter. Institutional investors and hedge funds 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.