Brokerages Set Perficient, Inc. (NASDAQ:PRFT) Price Target at $70.00

Shares of Perficient, Inc. (NASDAQ:PRFT) have received a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $69.67.

Several equities research analysts recently issued reports on PRFT shares. Alliance Global Partners raised Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Tuesday. Guggenheim initiated coverage on shares of Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price objective on the stock. Barrington Research reiterated an “outperform” rating and issued a $77.00 target price on shares of Perficient in a research report on Wednesday, February 28th. Scotiabank lowered their price target on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their price objective on Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th.

Perficient Stock Performance

Perficient stock opened at $45.09 on Thursday. Perficient has a fifty-two week low of $43.39 and a fifty-two week high of $96.93. The firm’s 50 day simple moving average is $58.51 and its 200-day simple moving average is $62.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15. The company has a market cap of $1.58 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). The firm had revenue of $220.79 million for the quarter, compared to analysts’ expectations of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, equities research analysts predict that Perficient will post 3.42 EPS for the current year.

Insider Buying and Selling

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was 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 $1,831,838.32. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Thomas J. Hogan sold 8,801 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 transaction of $591,955.26. Following the completion of the sale, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin Thomas Sheen sold 684 shares of Perficient 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 disclosure for this sale can be found here. Over the last three months, insiders sold 13,149 shares of company stock worth $885,619. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Perficient

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new stake in Perficient during the 4th quarter valued at approximately $28,000. Parallel Advisors LLC grew its stake in shares of Perficient by 73.9% in the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after acquiring an additional 224 shares during the last quarter. NBC Securities Inc. bought a new position in Perficient during the third quarter worth $38,000. Principal Securities Inc. acquired a new position in Perficient during the 4th quarter valued at $41,000. Finally, Park Place Capital Corp boosted its holdings 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 valued at $66,000 after purchasing an additional 344 shares during the period. 95.00% of the stock is owned by institutional investors and hedge funds.

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.