Brokerages Set Perficient, Inc. (NASDAQ:PRFT) Price Target at $70.43

Perficient, Inc. (NASDAQ:PRFTGet Free Report) has earned a consensus rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold rating. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $70.43.

A number of research analysts have weighed in on PRFT shares. Scotiabank increased their price target on Perficient from $50.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Monday, May 6th. Guggenheim started coverage on Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price target on the stock. Alliance Global Partners reissued a “neutral” rating on shares of Perficient in a research note on Tuesday, May 7th. StockNews.com started coverage on Perficient in a research note on Saturday, June 8th. They set a “sell” rating on the stock. Finally, William Blair reissued a “market perform” rating on shares of Perficient in a research note on Monday, May 6th.

Get Our Latest Analysis on PRFT

Perficient Price Performance

Shares of NASDAQ:PRFT opened at $74.40 on Friday. The business’s fifty day moving average price is $62.25 and its two-hundred day moving average price is $64.11. The stock has a market cap of $2.62 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 1.87 and a beta of 1.63. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.18 and a current ratio of 4.18. Perficient has a one year low of $42.51 and a one year high of $96.93.

Perficient (NASDAQ:PRFTGet Free Report) last announced its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The firm had revenue of $215.30 million for the quarter, compared to analysts’ expectations of $224.99 million. Perficient had a return on equity of 19.50% and a net margin of 9.40%. Perficient’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, analysts forecast that Perficient will post 3.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Arizona State Retirement System raised its position 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 period. Handelsbanken Fonder AB raised its position in Perficient by 3.8% in the fourth quarter. Handelsbanken Fonder AB now owns 5,412 shares of the digital transformation consultancy’s stock valued at $356,000 after purchasing an additional 200 shares during the period. Huntington National Bank raised its position in Perficient by 10.5% in the third quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy’s stock valued at $130,000 after purchasing an additional 213 shares during the period. Parallel Advisors LLC raised its position in Perficient by 73.9% in the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after purchasing an additional 224 shares during the period. Finally, Comerica Bank raised its position in Perficient by 1.3% in the fourth quarter. Comerica Bank now owns 18,682 shares of the digital transformation consultancy’s stock valued at $1,230,000 after purchasing an additional 235 shares during the period. 95.00% of the stock is owned by hedge funds and other institutional investors.

Perficient Company Profile

(Get Free Report

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.

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Analyst Recommendations for Perficient (NASDAQ:PRFT)

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