Needham & Company LLC Reaffirms Hold Rating for Perficient (NASDAQ:PRFT)

Needham & Company LLC reissued their hold rating on shares of Perficient (NASDAQ:PRFT) in a report issued on Monday, Benzinga reports.

Several other research analysts have also issued reports on PRFT. JPMorgan Chase & Co. decreased 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, May 2nd. Guggenheim initiated coverage on Perficient in a research report on Tuesday, March 19th. They set a neutral rating and a $65.00 target price on the stock. William Blair reiterated a market perform rating on shares of Perficient in a research report on Monday. Scotiabank cut their price objective on Perficient from $65.00 to $50.00 and set a sector perform rating on the stock in a report on Monday, April 29th. Finally, Barrington Research reiterated an outperform rating and issued a $77.00 target price on shares of Perficient in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $70.43.

Perficient Trading Up 0.4 %

Shares of Perficient stock opened at $73.55 on Monday. The business has a fifty day simple moving average of $55.17 and a 200-day simple moving average of $61.60. Perficient has a fifty-two week low of $42.51 and a fifty-two week high of $96.93. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. 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 issued its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $215.30 million during the quarter, compared to the consensus estimate of $224.99 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. Perficient’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 EPS. On average, equities analysts forecast that Perficient will post 3.42 EPS for the current fiscal year.

Insider Activity at Perficient

In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $591,955.26. Following the completion of the sale, the chief executive officer now owns 193,304 shares in the company, valued at approximately $13,001,627.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $591,955.26. Following the transaction, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction 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 sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,149 shares of company stock valued at $885,619. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Perficient

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in Perficient in the fourth quarter worth approximately $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of Perficient in the 1st quarter valued at $25,000. Parallel Advisors LLC boosted its holdings in Perficient by 73.9% in 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 in the last quarter. Principal Securities Inc. acquired a new position in Perficient during the fourth quarter worth $41,000. Finally, NBC Securities Inc. acquired a new stake in shares of Perficient in the third quarter worth about $38,000. 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.