Perficient (NASDAQ:PRFT) Sees Strong Trading Volume

Perficient, Inc. (NASDAQ:PRFT - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 669,741 shares were traded during mid-day trading, an increase of 180% from the previous session's volume of 239,621 shares.The stock last traded at $46.00 and had previously closed at $43.46.

Analyst Upgrades and Downgrades

PRFT has been the topic of a number of recent analyst reports. Scotiabank dropped their target price on shares of Perficient from $65.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Monday. Guggenheim began coverage on shares of Perficient in a research note on Tuesday, March 19th. They issued a "neutral" rating and a $65.00 target price for the company. Barrington Research restated an "outperform" rating and issued a $77.00 target price on shares of Perficient in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Perficient from $68.00 to $71.00 and gave the company a "neutral" rating in a report on Wednesday, February 28th. Finally, Alliance Global Partners raised shares of Perficient from a "neutral" rating to a "buy" rating and set a $67.00 target price on the stock in a research report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $67.17.

Perficient Price Performance

The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.05 and a beta of 1.43. The stock's 50 day simple moving average is $56.36 and its two-hundred day simple moving average is $61.57. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15.

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 for the quarter, missing the consensus estimate of $1.01 by ($0.02). The firm had revenue of $220.79 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, analysts forecast that Perficient, Inc. will post 3.42 earnings per share for the current fiscal year.

Insider Transactions at Perficient

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the company's stock in a transaction 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 transaction, the senior vice president now directly owns 26,533 shares of the company's stock, valued at approximately $1,831,838.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Thomas J. Hogan sold 8,801 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $591,955.26. Following the sale, the chief executive officer now directly owns 193,304 shares of the company's stock, valued at $13,001,627.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 of the company's stock, valued at $1,831,838.32. The disclosure for this sale can be found here. Insiders have sold a total of 13,149 shares of company stock worth $885,619 in the last 90 days. Corporate insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On Perficient

Several large investors have recently bought and sold shares of PRFT. Allspring Global Investments Holdings LLC raised its position 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 acquiring an additional 72,023 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Perficient during the first quarter worth about $108,000. Verdence Capital Advisors LLC grew its stake in Perficient by 41.5% during the first quarter. Verdence Capital Advisors LLC now owns 5,682 shares of the digital transformation consultancy's stock worth $320,000 after purchasing an additional 1,666 shares during the period. Norden Group LLC grew its stake in Perficient by 2,123.4% in the first quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy's stock valued at $5,499,000 after acquiring an additional 93,301 shares during the period. Finally, Congress Wealth Management LLC DE boosted its position in shares of Perficient by 36.6% during the first quarter. Congress Wealth Management LLC DE now owns 157,396 shares of the digital transformation consultancy's stock valued at $8,860,000 after buying an additional 42,194 shares during the last quarter. 95.00% of the stock is currently 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.