William Blair Reaffirms “Market Perform” Rating for Perficient (NASDAQ:PRFT)

William Blair restated their market perform rating on shares of Perficient (NASDAQ:PRFT) in a report issued on Monday, Marketbeat Ratings reports.

Other analysts also recently issued research reports about the company. Barrington Research restated an outperform rating and issued a $77.00 price target on shares of Perficient in a research note on Monday, April 29th. Guggenheim started coverage on Perficient in a research note on Tuesday, March 19th. They issued a neutral rating and a $65.00 target price on the stock. Scotiabank lowered their price target on Perficient from $65.00 to $50.00 and set a sector perform rating for the company in a research report on Monday, April 29th. Alliance Global Partners raised shares of Perficient from a neutral rating to a buy rating and set a $67.00 price objective on the stock in a research report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Perficient from $71.00 to $59.00 and set a neutral rating for the company in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $70.43.

Perficient Stock Performance

Shares of Perficient stock opened at $73.55 on Monday. The business has a fifty day simple moving average of $55.17 and a two-hundred day simple moving average of $61.60. The firm has a market capitalization of $2.58 billion, a P/E ratio of 26.65, a P/E/G ratio of 1.17 and a beta of 1.46. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. Perficient has a 12 month low of $42.51 and a 12 month high of $96.93.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $215.30 million during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.89 EPS. On average, equities analysts forecast that Perficient will post 3.42 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares in the company, valued at $1,831,838.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the sale, the chief executive officer now owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction 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. Insiders have sold a total of 13,149 shares of company stock valued at $885,619 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new stake in shares of Perficient in the 4th quarter worth $28,000. Fidelis Capital Partners LLC bought a new position in shares of Perficient in the first quarter worth about $25,000. Parallel Advisors LLC grew its stake in shares of Perficient by 73.9% during the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after acquiring an additional 224 shares during the period. Principal Securities Inc. purchased a new stake in Perficient in the 4th quarter worth approximately $41,000. Finally, NBC Securities Inc. bought a new stake in Perficient during the 3rd quarter worth approximately $38,000. 95.00% of the stock is currently owned by institutional investors.

About Perficient

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.