Perficient (NASDAQ:PRFT) Given Market Perform Rating at Barrington Research

Barrington Research reissued their market perform rating on shares of Perficient (NASDAQ:PRFT) in a research note published on Tuesday, Benzinga reports.

Several other analysts also recently issued reports on PRFT. Guggenheim assumed coverage on Perficient in a report on Tuesday, March 19th. They issued a neutral rating and a $65.00 price target on the stock. Scotiabank boosted their price target on shares of Perficient from $50.00 to $76.00 and gave the company a sector perform rating in a report on Monday. Needham & Company LLC reaffirmed a hold rating on shares of Perficient in a report on Monday. Alliance Global Partners raised shares of Perficient from a neutral rating to a buy rating and set a $67.00 target price for the company in a research note on Tuesday, April 23rd. Finally, 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 note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $70.43.

Perficient Price Performance

PRFT opened at $73.28 on Tuesday. Perficient has a twelve month low of $42.51 and a twelve month high of $96.93. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.17 and a beta of 1.46. The company has a fifty day simple moving average of $54.98 and a 200 day simple moving average of $61.52.

Perficient (NASDAQ:PRFT) last announced its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The company had revenue of $215.30 million during the quarter, compared to the consensus estimate of $224.99 million. During the same period last year, the firm earned $0.89 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. Equities research analysts expect that Perficient will post 3.42 EPS for the current fiscal year.

Insider Buying and Selling at Perficient

In other news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total value of $47,223.36. Following the transaction, the senior vice president now 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 news, CFO Paul E. Martin sold 3,664 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was 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 $14,302,300.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total value of $47,223.36. Following the completion of the transaction, the senior vice president now directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. In the last three months, insiders sold 13,149 shares of company stock valued at $885,619. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new position in Perficient in the 1st quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in Perficient in the 4th quarter worth about $28,000. Parallel Advisors LLC boosted its position in Perficient by 73.9% during the 4th 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 period. NBC Securities Inc. purchased a new position in Perficient during the 3rd quarter valued at about $38,000. Finally, Principal Securities Inc. acquired a new position in shares of Perficient in the 4th quarter valued at about $41,000. 95.00% of the stock is owned by hedge funds and other 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.