Perficient (NASDAQ:PRFT) Reaches New 1-Year Low at $51.21

Perficient, Inc. (NASDAQ:PRFT - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The company traded as low as $51.21 and last traded at $51.30, with a volume of 69400 shares changing hands. The stock had previously closed at $52.60.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PRFT. Scotiabank cut their price target on shares of Perficient from $70.00 to $65.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 28th. Guggenheim initiated coverage on shares of Perficient in a research report on Tuesday, March 19th. They set a "neutral" rating and a $65.00 price objective on the stock. Barrington Research restated an "outperform" rating and set a $77.00 price objective on shares of Perficient in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their price objective 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Perficient currently has an average rating of "Hold" and a consensus price target of $70.00.

Perficient Stock Down 2.1 %

The firm has a market capitalization of $1.80 billion, a PE ratio of 18.69, a PEG ratio of 1.31 and a beta of 1.43. The business's 50 day simple moving average is $64.17 and its 200 day simple moving average is $62.97. 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 (NASDAQ:PRFT - Get Free Report) last released its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.02). The firm had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. Perficient's revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts forecast that Perficient, Inc. will post 3.43 earnings per share for the current year.

Insider Activity at Perficient

In related news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the sale, the senior vice president now owns 26,533 shares in the company, valued at approximately $1,831,838.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul E. Martin sold 3,664 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 transaction of $246,440.64. Following the sale, the chief financial officer now directly owns 212,642 shares of the company's stock, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. Insiders sold 13,149 shares of company stock worth $885,619 in the last 90 days. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PRFT. Envestnet Asset Management Inc. increased its stake in shares of Perficient by 328.0% in the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy's stock worth $10,754,000 after acquiring an additional 142,427 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Perficient by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 336,403 shares of the digital transformation consultancy's stock worth $19,464,000 after acquiring an additional 16,817 shares during the period. Townsquare Capital LLC increased its stake in shares of Perficient by 389.3% in the third quarter. Townsquare Capital LLC now owns 37,028 shares of the digital transformation consultancy's stock worth $2,142,000 after acquiring an additional 29,460 shares during the period. Natixis Advisors L.P. increased its stake in shares of Perficient by 114.7% in the third quarter. Natixis Advisors L.P. now owns 51,729 shares of the digital transformation consultancy's stock worth $2,993,000 after acquiring an additional 27,632 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Perficient by 6,104.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 162,010 shares of the digital transformation consultancy's stock worth $9,374,000 after acquiring an additional 159,399 shares during the period. Hedge funds and other 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.