Perficient (NASDAQ:PRFT) Given Hold Rating at Maxim Group

Perficient (NASDAQ:PRFT)‘s stock had its “hold” rating reiterated by research analysts at Maxim Group in a report released on Tuesday, Benzinga reports. They currently have a $76.00 price target on the digital transformation consultancy’s stock. Maxim Group’s price objective points to a potential upside of 3.71% from the stock’s current price.

PRFT has been the subject of a number of other reports. Scotiabank increased their price target on shares of Perficient from $50.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Monday. Alliance Global Partners raised Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Tuesday, April 23rd. Guggenheim assumed coverage on Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price objective for the company. William Blair reiterated a “market perform” rating on shares of Perficient in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Perficient in a research note on Monday. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Perficient presently has a consensus rating of “Hold” and an average target price of $70.43.

Perficient Price Performance

Shares of Perficient stock traded up $0.02 during trading on Tuesday, hitting $73.28. 1,706,229 shares of the stock traded hands, compared to its average volume of 422,700. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.17 and a beta of 1.46. The firm’s fifty day moving average is $54.81 and its 200-day moving average is $61.39. Perficient has a 52 week low of $42.51 and a 52 week high of $96.93.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business had revenue of $215.30 million for the quarter, compared to analyst estimates of $224.99 million. During the same period last year, the company earned $0.89 EPS. Perficient’s revenue for the quarter was down 7.0% compared to the same quarter last year. Research analysts expect that Perficient will post 3.42 EPS for the current fiscal year.

Insider Transactions at Perficient

In related news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares in the company, valued at approximately $1,831,838.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kevin Thomas Sheen sold 684 shares of Perficient 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Paul E. Martin sold 3,664 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 $246,440.64. Following the completion of the sale, the chief financial officer now owns 212,642 shares in the company, valued at $14,302,300.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,149 shares of company stock valued at $885,619. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Perficient

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in shares of Perficient in the first quarter worth $25,000. GAMMA Investing LLC acquired a new position in shares of Perficient in the fourth quarter worth $28,000. Parallel Advisors LLC raised its holdings in shares of 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 acquiring an additional 224 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Perficient in the third quarter valued at $38,000. Finally, Principal Securities Inc. purchased a new stake in shares of Perficient in the fourth quarter valued at $41,000. 95.00% of the stock is owned by institutional investors and hedge funds.

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.