Perficient (NASDAQ:PRFT) Reaches New 1-Year Low at $44.19

Shares of Perficient, Inc. (NASDAQ:PRFT - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $44.19 and last traded at $44.30, with a volume of 16599 shares. The stock had previously closed at $44.58.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PRFT. Guggenheim began 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. upped their target price on shares of Perficient from $68.00 to $71.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 28th. Barrington Research reaffirmed an "outperform" rating and set a $77.00 target price on shares of Perficient in a research note on Wednesday, February 28th. Finally, Scotiabank dropped their price objective 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. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Perficient has an average rating of "Hold" and a consensus target price of $70.00.

Perficient Stock Performance

The firm's fifty day moving average price is $60.05 and its 200-day moving average price is $62.29. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 1.13 and a beta of 1.43.

Perficient (NASDAQ:PRFT - Get Free Report) last issued 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 company had revenue of $220.79 million during the quarter, compared to analyst estimates of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company's quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 EPS. Analysts expect that Perficient, Inc. will post 3.42 earnings per share for the current year.

Insider Transactions at Perficient

In other news, CEO Thomas J. Hogan sold 8,801 shares of the firm'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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction dated Wednesday, February 21st. The shares were 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 owns 26,533 shares in the company, valued at approximately $1,831,838.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas J. Hogan sold 8,801 shares of the firm'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 transaction, the chief executive officer now owns 193,304 shares of the company's stock, valued at $13,001,627.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,149 shares of company stock worth $885,619. Company insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Perficient

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Perficient by 40.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 250,383 shares of the digital transformation consultancy's stock worth $14,094,000 after buying an additional 72,023 shares in the last quarter. Congress Wealth Management LLC DE boosted its position in shares of Perficient by 36.6% in the first quarter. Congress Wealth Management LLC DE now owns 157,396 shares of the digital transformation consultancy's stock worth $8,860,000 after acquiring an additional 42,194 shares during the last quarter. Park Place Capital Corp boosted its position in shares of Perficient by 41.1% in the first quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy's stock worth $66,000 after acquiring an additional 344 shares during the last quarter. Bridge City Capital LLC boosted its position 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 acquiring an additional 9,163 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its position in shares of Perficient by 5.3% in the first quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy's stock worth $78,871,000 after acquiring an additional 71,004 shares during the last quarter. 95.00% of the stock is currently owned by hedge funds and other 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.