Perficient (NASDAQ:PRFT) Rating Reiterated by Barrington Research

Barrington Research reissued their outperform rating on shares of Perficient (NASDAQ:PRFT - Free Report) in a report released on Monday morning, Benzinga reports. Barrington Research currently has a $77.00 target price on the digital transformation consultancy's stock.

Several other brokerages have also recently issued reports on PRFT. JPMorgan Chase & Co. lifted their target price on Perficient from $68.00 to $71.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. Scotiabank reduced 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. Guggenheim started coverage on shares of Perficient in a report on Tuesday, March 19th. They issued a neutral rating and a $65.00 target price for the company. Finally, Alliance Global Partners upgraded shares of Perficient from a neutral rating to a buy rating and set a $67.00 price target on the stock in a report on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $67.17.

Perficient Stock Up 1.1 %

NASDAQ PRFT traded up $0.47 during mid-day trading on Monday, hitting $43.46. The company's stock had a trading volume of 537,754 shares, compared to its average volume of 236,736. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.05 and a beta of 1.43. The company's 50 day simple moving average is $56.36 and its 200 day simple moving average is $61.57. 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 has a twelve month low of $42.51 and a twelve month high of $96.93.

Perficient (NASDAQ:PRFT - Get Free Report) last posted its earnings results 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). Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business had revenue of $220.79 million for the quarter, compared to the consensus estimate of $223.79 million. During the same period in the previous year, the firm earned $0.98 earnings per share. The company's revenue was down 5.1% on a year-over-year basis. Analysts anticipate that Perficient will post 3.42 earnings per share for the current year.

Insider Transactions at Perficient

In related news, CEO Thomas J. Hogan sold 8,801 shares of the 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 completion of the transaction, the chief executive officer now owns 193,304 shares in the company, valued at $13,001,627.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related 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 value of $591,955.26. Following the sale, the chief executive officer now 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 is available at the SEC website. Also, CFO Paul E. Martin sold 3,664 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $246,440.64. Following the completion of the transaction, the chief financial officer now owns 212,642 shares in the company, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. Insiders have sold 13,149 shares of company stock worth $885,619 in the last ninety days. Company insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Perficient

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Perficient during the third quarter worth about $1,115,000. Dakota Wealth Management bought a new position in Perficient in the 3rd quarter worth approximately $219,000. Raymond James Financial Services Advisors Inc. grew its stake in Perficient by 97.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,951 shares of the digital transformation consultancy's stock valued at $749,000 after buying an additional 6,380 shares in the last quarter. Verdence Capital Advisors LLC bought a new stake in Perficient during the 3rd quarter valued at $241,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Perficient by 21.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,039 shares of the digital transformation consultancy's stock valued at $407,000 after acquiring an additional 1,251 shares during the period. Hedge funds and other institutional investors own 95.00% of the company's stock.

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.