Perficient’s (PRFT) Market Perform Rating Reaffirmed at William Blair

William Blair reaffirmed their market perform rating on shares of Perficient (NASDAQ:PRFT) in a research report released on Monday morning, Marketbeat.com reports.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Alliance Global Partners upgraded shares of Perficient from a neutral rating to a buy rating and set a $67.00 price objective on the stock in a research note on Tuesday, April 23rd. Guggenheim assumed coverage on shares of Perficient in a research report on Tuesday, March 19th. They issued a neutral rating and a $65.00 target price for the company. Scotiabank dropped their price target on shares of Perficient from $65.00 to $50.00 and set a sector perform rating on the stock in a research note on Monday, April 29th. Finally, Barrington Research reiterated an outperform rating and set a $77.00 price objective on shares of Perficient in a report on Monday, April 29th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Perficient currently has a consensus rating of Hold and a consensus target price of $69.50.

Perficient Trading Up 52.3 %

Shares of NASDAQ PRFT opened at $73.26 on Monday. The business has a fifty day simple moving average of $54.81 and a 200-day simple moving average of $61.39. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.17 and a beta of 1.46. Perficient has a 12 month low of $42.51 and a 12 month high of $96.93. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75.

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

Insider Activity at Perficient

In related news, CEO Thomas J. Hogan sold 8,801 shares of the company’s 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 sale, the chief executive officer now directly owns 193,304 shares in the company, valued at $13,001,627.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas J. Hogan sold 8,801 shares of the firm’s stock in a transaction on 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 13,149 shares of company stock valued at $885,619. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Perficient

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in Perficient by 10.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,360 shares of the digital transformation consultancy’s stock valued at $11,740,000 after buying an additional 16,350 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Perficient by 328.0% in the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock worth $10,754,000 after acquiring an additional 142,427 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Perficient by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 336,403 shares of the digital transformation consultancy’s stock worth $19,464,000 after acquiring an additional 16,817 shares during the period. Townsquare Capital LLC raised its stake in Perficient by 389.3% during the 3rd quarter. Townsquare Capital LLC now owns 37,028 shares of the digital transformation consultancy’s stock valued at $2,142,000 after purchasing an additional 29,460 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in Perficient in the 4th quarter valued at $1,145,000. 95.00% of the stock is owned by institutional investors and hedge funds.

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.