Perficient (NASDAQ:PRFT) Given “Outperform” Rating at Barrington Research

Barrington Research reissued their outperform rating on shares of Perficient (NASDAQ:PRFT) in a report released on Monday morning, Benzinga reports. The brokerage currently has a $77.00 price objective on the digital transformation consultancy’s stock.

Several other brokerages have also recently issued reports on PRFT. Guggenheim initiated coverage on shares of Perficient in a research report on Tuesday, March 19th. They set a neutral rating and a $65.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Perficient from $68.00 to $71.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. Scotiabank decreased their target price on shares of Perficient from $70.00 to $65.00 and set a sector perform rating on the stock in a research report on Wednesday, February 28th. Finally, Alliance Global Partners upgraded shares of Perficient from a neutral rating to a buy rating and set a $67.00 target price on the stock in a research report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $67.17.

Perficient Stock Down 0.0 %

PRFT opened at $47.24 on Monday. The firm has a 50-day simple moving average of $55.92 and a two-hundred day simple moving average of $61.50. Perficient has a 52 week low of $42.51 and a 52 week high of $96.93. The company has a market capitalization of $1.66 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75.

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

Insider Buying and Selling

In related news, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $591,955.26. Following 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the company’s stock in a transaction dated 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 directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the transaction, the chief executive officer now owns 193,304 shares in the company, valued at $13,001,627.04. The disclosure for this sale can be found here. Insiders have sold 13,149 shares of company stock valued at $885,619 in the last ninety days. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perficient

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in Perficient by 36.8% in the 1st quarter. BNP Paribas Financial Markets now owns 34,266 shares of the digital transformation consultancy’s stock worth $1,929,000 after acquiring an additional 9,222 shares in the last quarter. Norden Group LLC grew its stake in Perficient by 47.4% in the 1st quarter. Norden Group LLC now owns 6,477 shares of the digital transformation consultancy’s stock worth $365,000 after acquiring an additional 2,083 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Perficient by 40.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 250,383 shares of the digital transformation consultancy’s stock worth $14,094,000 after acquiring an additional 72,023 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in Perficient in the 1st quarter worth about $108,000. Finally, Verdence Capital Advisors LLC boosted its stake in shares of Perficient by 41.5% during the first quarter. Verdence Capital Advisors LLC now owns 5,682 shares of the digital transformation consultancy’s stock valued at $320,000 after purchasing an additional 1,666 shares in the last quarter. 95.00% of the stock is currently 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.