Perficient (NASDAQ:PRFT) Sees Strong Trading Volume

Perficient, Inc. (NASDAQ:PRFT) shares saw an uptick in trading volume on Tuesday . 669,741 shares changed hands during mid-day trading, an increase of 180% from the previous session’s volume of 239,621 shares.The stock last traded at $46.00 and had previously closed at $43.46.

Analysts Set New Price Targets

A number of research firms recently weighed in on PRFT. JPMorgan Chase & Co. increased their price target on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. 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, April 23rd. Barrington Research reissued an “outperform” rating and issued a $77.00 price objective on shares of Perficient in a research note on Monday. Scotiabank reduced their price objective on Perficient from $65.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday. Finally, Guggenheim began coverage on Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Perficient currently has an average rating of “Hold” and an average target price of $67.17.

Perficient Price Performance

The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43. The stock has a fifty day simple moving average of $56.36 and a 200-day simple moving average of $61.57. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75.

Perficient (NASDAQ:PRFT) last released its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The business had revenue of $220.79 million during the quarter, compared to analyst estimates of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. As a group, equities research analysts expect that Perficient, Inc. will post 3.42 EPS for the current year.

Insider Buying and Selling at Perficient

In other Perficient news, 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 directly owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 owns 26,533 shares in the company, valued at $1,831,838.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Paul E. Martin sold 3,664 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 $246,440.64. Following the transaction, the chief financial officer now owns 212,642 shares in the company, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. Insiders have sold 13,149 shares of company stock worth $885,619 over the last three months. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Perficient

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in shares of Perficient during the fourth quarter worth about $28,000. Parallel Advisors LLC raised its position in shares of Perficient by 73.9% during the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after purchasing an additional 224 shares during the period. Principal Securities Inc. acquired a new stake in shares of Perficient during the fourth quarter worth about $41,000. NBC Securities Inc. acquired a new stake in shares of Perficient during the third quarter worth about $38,000. Finally, Park Place Capital Corp raised its position 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 buying an additional 344 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.