Perficient, Inc. (NASDAQ:PRFT) has been given an average recommendation of “Buy” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $20.50.

A number of research analysts recently commented on PRFT shares. Zacks Investment Research raised shares of Perficient from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Maxim Group set a $20.00 price target on shares of Perficient and gave the company a “buy” rating in a report on Thursday, May 4th. Finally, BidaskClub downgraded shares of Perficient from a “hold” rating to a “sell” rating in a report on Saturday, July 8th.

In other Perficient news, Director Ralph C. Derrickson sold 7,900 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $17.64, for a total value of $139,356.00. Following the completion of the sale, the director now owns 32,747 shares of the company’s stock, valued at $577,657.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its stake in Perficient by 10.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,521 shares of the information technology services provider’s stock valued at $113,000 after buying an additional 637 shares in the last quarter. Victory Capital Management Inc. increased its stake in Perficient by 31.1% in the first quarter. Victory Capital Management Inc. now owns 6,860 shares of the information technology services provider’s stock valued at $119,000 after buying an additional 1,629 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Perficient by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 6,942 shares of the information technology services provider’s stock valued at $129,000 after buying an additional 3,032 shares in the last quarter. Acrospire Investment Management LLC increased its stake in Perficient by 525.7% in the first quarter. Acrospire Investment Management LLC now owns 7,771 shares of the information technology services provider’s stock valued at $135,000 after buying an additional 6,529 shares in the last quarter. Finally, Mason Street Advisors LLC increased its stake in Perficient by 5.1% in the first quarter. Mason Street Advisors LLC now owns 8,282 shares of the information technology services provider’s stock valued at $144,000 after buying an additional 403 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Shares of Perficient (NASDAQ:PRFT) opened at 17.78 on Tuesday. The company has a market capitalization of $624.38 million, a P/E ratio of 43.16 and a beta of 0.86. Perficient has a 12 month low of $14.15 and a 12 month high of $20.79. The company’s 50 day moving average price is $18.07 and its 200 day moving average price is $17.67.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. Perficient had a net margin of 3.08% and a return on equity of 7.42%. The firm had revenue of $117 million during the quarter, compared to the consensus estimate of $119.21 million. During the same quarter last year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. Analysts expect that Perficient will post $1.23 EPS for the current fiscal year.

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Perficient Company Profile

Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.

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