Perficient (NASDAQ:PRFT) Raised to Buy at Alliance Global Partners

Alliance Global Partners upgraded shares of Perficient (NASDAQ:PRFT - Free Report) from a neutral rating to a buy rating in a report released on Tuesday, MarketBeat.com reports. The brokerage currently has $67.00 price objective on the digital transformation consultancy's stock.

Several other analysts have also commented on PRFT. JPMorgan Chase & Co. lifted their price objective on Perficient from $68.00 to $71.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Scotiabank cut their price target on Perficient from $70.00 to $65.00 and set a sector perform rating for the company in a report on Wednesday, February 28th. Guggenheim began coverage on Perficient in a report on Tuesday, March 19th. They set a neutral rating and a $65.00 price target for the company. Finally, Barrington Research reissued an outperform rating and set a $77.00 price target on shares of Perficient in a report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Perficient has a consensus rating of Hold and an average target price of $69.67.

Perficient Stock Up 0.8 %

PRFT stock traded up $0.36 during midday trading on Tuesday, hitting $45.48. The company's stock had a trading volume of 304,002 shares, compared to its average volume of 223,282. The company has a market cap of $1.60 billion, a PE ratio of 16.48, a P/E/G ratio of 1.09 and a beta of 1.43. Perficient has a 12 month low of $43.39 and a 12 month high of $96.93. 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's 50-day moving average is $58.51 and its 200-day moving average is $62.05.

Perficient (NASDAQ:PRFT - Get Free Report) last announced its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.02). Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company had revenue of $220.79 million for the quarter, compared to analysts' expectations of $223.79 million. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Perficient's quarterly revenue was down 5.1% on a year-over-year basis. On average, equities research analysts forecast that Perficient will post 3.42 earnings per share for the current fiscal year.

Insider Transactions at Perficient

In other news, SVP Kevin Thomas Sheen sold 684 shares of the company's stock in a transaction dated Wednesday, February 21st. The stock was 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 of the company's stock, valued at $1,831,838.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total value of $47,223.36. Following the sale, the senior vice president now directly owns 26,533 shares in the company, valued at $1,831,838.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 $13,001,627.04. The disclosure for this sale can be found here. Insiders sold a total of 13,149 shares of company stock valued at $885,619 over the last 90 days. Company insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PRFT. GAMMA Investing LLC bought a new position in Perficient in the fourth quarter worth approximately $28,000. Parallel Advisors LLC grew its stake in Perficient by 73.9% in the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy's stock worth $35,000 after purchasing an additional 224 shares in the last quarter. NBC Securities Inc. bought a new position in Perficient in the third quarter worth approximately $38,000. Principal Securities Inc. bought a new position in Perficient in the fourth quarter worth approximately $41,000. Finally, Park Place Capital Corp grew its stake in 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 purchasing an additional 344 shares in the last quarter. 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.