Needham & Company LLC Reiterates “Hold” Rating for Perficient (NASDAQ:PRFT)

Perficient (NASDAQ:PRFT)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports.

Several other brokerages have also recently weighed in on PRFT. JPMorgan Chase & Co. dropped their price target on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday. Alliance Global Partners raised shares of Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Tuesday, April 23rd. Guggenheim began 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. Barrington Research reissued an “outperform” rating and set a $77.00 target price on shares of Perficient in a research report on Monday, April 29th. Finally, Scotiabank dropped their target price on shares of Perficient from $65.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.17.

Perficient Trading Up 53.0 %

Perficient stock traded up $25.49 during trading hours on Monday, reaching $73.60. 7,833,080 shares of the company’s stock were exchanged, compared to its average volume of 362,894. 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 firm’s 50 day simple moving average is $54.70 and its 200 day simple moving average is $61.28. Perficient has a twelve month low of $42.51 and a twelve month high of $96.93. The firm has a market capitalization of $2.58 billion, a PE ratio of 26.67, a PEG ratio of 1.17 and a beta of 1.46.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data 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 company had revenue of $220.79 million for the quarter, compared to the consensus estimate of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. Perficient’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. Research analysts predict that Perficient will post 3.42 earnings per share for the current year.

Insider Transactions at Perficient

In other news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 owns 26,533 shares in the company, valued at approximately $1,831,838.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $246,440.64. Following the completion of the sale, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The disclosure for this sale can be found here. Insiders sold a total of 13,149 shares of company stock worth $885,619 in the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Trading of Perficient

Hedge funds have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp increased its position in shares of Perficient by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 30,432 shares of the digital transformation consultancy’s stock valued at $1,713,000 after acquiring an additional 407 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Perficient in the first quarter valued at about $25,000. BNP Paribas Financial Markets increased its position in shares of Perficient by 36.8% in the first quarter. BNP Paribas Financial Markets now owns 34,266 shares of the digital transformation consultancy’s stock valued at $1,929,000 after acquiring an additional 9,222 shares during the period. Norden Group LLC increased its position in shares of Perficient by 47.4% in the first quarter. Norden Group LLC now owns 6,477 shares of the digital transformation consultancy’s stock valued at $365,000 after acquiring an additional 2,083 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Perficient by 40.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 250,383 shares of the digital transformation consultancy’s stock valued at $14,094,000 after acquiring an additional 72,023 shares during the period. 95.00% of the stock is owned by institutional investors.

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.