Perficient, Inc. (NASDAQ:PRFT) Receives Consensus Rating of "Hold" from Analysts

Perficient, Inc. (NASDAQ:PRFT - Get Free Report) has been given an average recommendation of "Hold" by the five ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $70.00.

Several equities analysts recently weighed in on PRFT shares. JPMorgan Chase & Co. raised their target price on shares of Perficient from $68.00 to $71.00 and gave the company 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. Scotiabank cut their target price on shares of Perficient from $70.00 to $65.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 28th. Finally, Guggenheim started coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a "neutral" rating and a $65.00 target price for the company.

Perficient Price Performance

Shares of NASDAQ PRFT traded down $0.94 during midday trading on Thursday, reaching $43.64. The stock had a trading volume of 365,058 shares, compared to its average volume of 216,698. The stock has a 50-day moving average of $60.05 and a 200-day moving average of $62.29. 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 capitalization of $1.53 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. Perficient has a 12-month low of $43.39 and a 12-month high of $96.93.

Perficient (NASDAQ:PRFT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 23.39% and a net margin of 10.91%. The business's revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. As a group, research analysts anticipate that Perficient will post 3.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of Perficient 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 transaction, the chief executive officer now directly owns 193,304 shares of the company's stock, valued at approximately $13,001,627.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of Perficient 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 transaction, the chief executive officer now directly owns 193,304 shares of the company's stock, valued at approximately $13,001,627.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $246,440.64. Following 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. Insiders sold 13,149 shares of company stock valued at $885,619 in the last three months. Corporate insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On Perficient

A number of large investors have recently made changes to their positions in PRFT. GAMMA Investing LLC purchased a new stake in Perficient in the 4th quarter valued at about $28,000. Parallel Advisors LLC boosted its position in Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy's stock valued at $35,000 after buying an additional 224 shares during the period. Principal Securities Inc. purchased a new stake in Perficient in the 4th quarter valued at about $41,000. NBC Securities Inc. purchased a new stake in Perficient in the 3rd quarter valued at about $38,000. Finally, Tower Research Capital LLC TRC boosted its position in Perficient by 170.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,159 shares of the digital transformation consultancy's stock valued at $97,000 after buying an additional 731 shares during the period. 95.00% of the stock is 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.