Perficient (NASDAQ:PRFT) Rating Lowered to Sell at StockNews.com

Perficient (NASDAQ:PRFT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

A number of other brokerages have also recently issued reports 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 note on Thursday, May 2nd. Needham & Company LLC reissued a “hold” rating on shares of Perficient in a research report on Monday. Alliance Global Partners restated a “neutral” rating on shares of Perficient in a report on Tuesday. Guggenheim assumed coverage on Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, Scotiabank boosted 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. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, Perficient currently has a consensus rating of “Hold” and an average target price of $70.43.

Perficient Price Performance

PRFT stock opened at $73.55 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15. The firm has a 50 day moving average price of $55.17 and a 200-day moving average price of $61.60. Perficient has a 52-week low of $42.51 and a 52-week high of $96.93. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.17 and a beta of 1.46.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $224.99 million. During the same quarter last year, the company earned $0.89 EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities research analysts forecast that Perficient will post 3.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the 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 transaction, the senior vice president now owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 value of $246,440.64. Following the completion of the sale, the chief financial officer now directly owns 212,642 shares in the company, valued at approximately $14,302,300.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction on 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 $1,831,838.32. The disclosure for this sale can be found here. Insiders sold 13,149 shares of company stock valued at $885,619 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Fidelis Capital Partners LLC purchased a new stake in Perficient in the 1st quarter worth approximately $25,000. GAMMA Investing LLC purchased a new position in shares of Perficient during the 4th quarter valued at $28,000. Parallel Advisors LLC boosted its holdings in Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after buying an additional 224 shares during the period. NBC Securities Inc. purchased a new stake in Perficient in the 3rd quarter worth $38,000. Finally, Principal Securities Inc. purchased a new stake in Perficient in the 4th quarter worth $41,000. Institutional investors 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.