Perficient (NASDAQ:PRFT) Hits New 52-Week Low at $50.38

Perficient, Inc. (NASDAQ:PRFT - Get Free Report) shares reached a new 52-week low on Friday . The stock traded as low as $50.38 and last traded at $50.70, with a volume of 15571 shares. The stock had previously closed at $51.68.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Guggenheim assumed coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a "neutral" rating and a $65.00 target price on the stock. JPMorgan Chase & Co. raised their price target 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 dropped their price target 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, Barrington Research reissued an "outperform" rating and set a $77.00 price target on shares of Perficient in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $70.00.

Perficient Trading Down 4.5 %

The firm's 50 day moving average is $62.39 and its 200 day moving average is $62.70. The company has a market cap of $1.72 billion, a PE ratio of 18.31, a PEG ratio of 1.25 and a beta of 1.43. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15.

Perficient (NASDAQ:PRFT - Get Free Report) last issued 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). The firm had revenue of $220.79 million for the quarter, compared to analysts' expectations of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. Perficient's revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. On average, equities analysts anticipate that Perficient, Inc. will post 3.42 earnings per share for the current year.

Insider Activity at Perficient

In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of Perficient 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 $591,955.26. Following the completion of the sale, the chief executive officer now directly owns 193,304 shares in the company, valued at $13,001,627.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of Perficient 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 $591,955.26. Following the completion of the sale, the chief executive officer now directly owns 193,304 shares in the company, valued at $13,001,627.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Paul E. Martin sold 3,664 shares of Perficient 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 owns 212,642 shares of the company's stock, valued at $14,302,300.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,149 shares of company stock valued at $885,619. Corporate insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Perficient

A number of hedge funds have recently made changes to their positions in PRFT. Bridge City Capital LLC increased its stake in shares of Perficient by 35.6% in the first quarter. Bridge City Capital LLC now owns 34,872 shares of the digital transformation consultancy's stock worth $1,963,000 after buying an additional 9,163 shares during the period. Congress Asset Management Co. MA increased its position in Perficient by 5.3% during the 1st quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy's stock valued at $78,871,000 after purchasing an additional 71,004 shares during the period. Park Avenue Securities LLC increased its position in Perficient by 9.7% during the 1st quarter. Park Avenue Securities LLC now owns 4,014 shares of the digital transformation consultancy's stock valued at $226,000 after purchasing an additional 355 shares during the period. Confluence Investment Management LLC purchased a new position in Perficient during the 1st quarter valued at $2,886,000. Finally, Nomura Holdings Inc. increased its position in Perficient by 4.5% during the 4th quarter. Nomura Holdings Inc. now owns 113,240 shares of the digital transformation consultancy's stock valued at $7,453,000 after purchasing an additional 4,891 shares during the period. 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.