Perficient (NASDAQ:PRFT) Lifted to Buy at Alliance Global Partners

Perficient (NASDAQ:PRFT) was upgraded by equities research analysts at Alliance Global Partners from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage presently has a $67.00 target price on the digital transformation consultancy’s stock. Alliance Global Partners’ target price indicates a potential upside of 48.49% from the company’s current price.

A number of other brokerages also recently weighed in on PRFT. Guggenheim initiated coverage on Perficient in a report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price target for the company. JPMorgan Chase & Co. increased their price target on Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Scotiabank decreased their target price 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, Barrington Research reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Perficient in a research 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 data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $69.67.

Perficient Stock Up 0.7 %

Shares of NASDAQ:PRFT opened at $45.12 on Tuesday. The firm has a market cap of $1.58 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.09 and a beta of 1.43. 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 12-month low of $43.39 and a 12-month high of $96.93. The business has a fifty day simple moving average of $58.96 and a 200 day simple moving average of $62.17.

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 return on equity of 23.39% and a net margin of 10.91%. The business had revenue of $220.79 million for the quarter, compared to analyst estimates of $223.79 million. During the same quarter in the previous year, the business posted $0.98 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. Analysts predict that Perficient will post 3.42 earnings per share for the current year.

Insiders Place Their Bets

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,149 shares of company stock valued at $885,619. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Perficient

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System boosted its stake in shares of Perficient by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 9,919 shares of the digital transformation consultancy’s stock worth $574,000 after buying an additional 175 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Perficient by 3.8% in the 4th quarter. Handelsbanken Fonder AB now owns 5,412 shares of the digital transformation consultancy’s stock worth $356,000 after buying an additional 200 shares during the last quarter. Huntington National Bank boosted its stake in shares of Perficient by 10.5% in the 3rd quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy’s stock worth $130,000 after buying an additional 213 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after buying an additional 224 shares during the last quarter. Finally, Comerica Bank boosted its stake in shares of Perficient by 1.3% in the 4th quarter. Comerica Bank now owns 18,682 shares of the digital transformation consultancy’s stock worth $1,230,000 after buying an additional 235 shares during 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.