Perficient (NASDAQ:PRFT) Hits New 1-Year Low at $43.38

Perficient, Inc. (NASDAQ:PRFT - Get Free Report) shares hit a new 52-week low during trading on Thursday . The company traded as low as $43.38 and last traded at $43.80, with a volume of 104958 shares changing hands. The stock had previously closed at $45.09.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Alliance Global Partners upgraded shares of Perficient from a "neutral" rating to a "buy" rating and set a $67.00 price objective on the stock in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Perficient from $68.00 to $71.00 and gave the company a "neutral" rating in a report on Wednesday, February 28th. Guggenheim assumed coverage on shares of Perficient in a report on Tuesday, March 19th. They set a "neutral" rating and a $65.00 price objective on the stock. 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 report on Wednesday, February 28th. Finally, Barrington Research reiterated an "outperform" rating and set a $77.00 price objective on shares of Perficient in a report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $69.67.

Perficient Stock Down 5.3 %

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 company has a market cap of $1.50 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The stock's fifty day moving average is $58.01 and its two-hundred day moving average is $61.94.

Perficient (NASDAQ:PRFT - Get Free Report) last posted 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 during 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%. The company's quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Sell-side analysts predict that Perficient, Inc. will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Perficient

In other news, CEO Thomas J. Hogan sold 8,801 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 $591,955.26. Following the completion of the transaction, the chief executive officer now directly 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 can be accessed through this hyperlink. In other news, CEO Thomas J. Hogan sold 8,801 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 $591,955.26. Following the completion of the transaction, the chief executive officer now directly 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 can be accessed through this hyperlink. Also, CFO Paul E. Martin sold 3,664 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $246,440.64. Following the completion of the transaction, the chief financial officer now directly owns 212,642 shares of the company's stock, valued at $14,302,300.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,149 shares of company stock worth $885,619. Insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRFT. Congress Asset Management Co. MA boosted its holdings in Perficient by 69.1% in the 3rd quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy's stock worth $79,766,000 after buying an additional 563,290 shares during the period. William Blair Investment Management LLC purchased a new stake in Perficient in the 3rd quarter worth approximately $32,578,000. Wellington Management Group LLP lifted its stake in Perficient by 26.2% in the 4th quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy's stock worth $128,064,000 after purchasing an additional 404,154 shares in the last quarter. Ophir Asset Management Pty Ltd purchased a new stake in Perficient in the 4th quarter worth approximately $25,474,000. Finally, Norges Bank purchased a new stake in Perficient in the 4th quarter worth approximately $23,950,000. 95.00% of the stock is 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.