Perficient (NASDAQ:PRFT) Receives “Buy” Rating from Maxim Group

Posted by Renee Jackson on Aug 6th, 2022

Maxim Group reissued their buy rating on shares of Perficient (NASDAQ:PRFT – Get Rating) in a research note issued to investors on Friday. The brokerage currently has a $140.00 price target on the digital transformation consultancy’s stock.

A number of other research analysts have also issued reports on PRFT. William Blair restated an outperform rating on shares of Perficient in a research report on Thursday, June 9th. Needham & Company LLC decreased their target price on shares of Perficient from $145.00 to $120.00 and set a buy rating on the stock in a research report on Friday. TheStreet upgraded shares of Perficient from a c+ rating to a b- rating in a research report on Thursday, April 28th. JPMorgan Chase & Co. reduced their price target on shares of Perficient from $133.00 to $123.00 in a research report on Wednesday, July 20th. Finally, Scotiabank started coverage on shares of Perficient in a research report on Thursday, June 30th. They set a sector outperform rating and a $110.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Perficient currently has an average rating of Moderate Buy and an average price target of $122.71.

Perficient Stock Performance

Shares of PRFT stock traded down $4.27 on Friday, reaching $88.81. The stock had a trading volume of 302,068 shares, compared to its average volume of 178,504. Perficient has a 12 month low of $86.24 and a 12 month high of $153.28. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 41.70, a P/E/G ratio of 1.37 and a beta of 1.47. The firm’s 50-day moving average is $95.53 and its two-hundred day moving average is $100.37. The company has a quick ratio of 2.38, a current ratio of 2.67 and a debt-to-equity ratio of 1.07.

Perficient (NASDAQ:PRFT – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The digital transformation consultancy reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. Perficient had a net margin of 9.01% and a return on equity of 30.67%. The business had revenue of $222.74 million for the quarter, compared to analyst estimates of $228.07 million. During the same quarter in the prior year, the business earned $0.71 EPS. Perficient’s quarterly revenue was up 21.0% on a year-over-year basis. On average, research analysts expect that Perficient will post 3.76 EPS for the current fiscal year.

Insider Activity

In related news, Director Ralph C. Derrickson sold 5,000 shares of the business’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $96.15, for a total transaction of $480,750.00. Following the sale, the director now owns 37,281 shares in the company, valued at approximately $3,584,568.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Perficient

A number of institutional investors have recently made changes to their positions in the stock. CWM LLC boosted its position in shares of Perficient by 846.4% during the 1st quarter. CWM LLC now owns 265 shares of the digital transformation consultancy’s stock valued at $29,000 after purchasing an additional 237 shares in the last quarter. Point72 Hong Kong Ltd boosted its position in shares of Perficient by 1,971.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 290 shares of the digital transformation consultancy’s stock valued at $37,000 after purchasing an additional 276 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Perficient by 151.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 299 shares of the digital transformation consultancy’s stock valued at $28,000 after purchasing an additional 180 shares in the last quarter. Covestor Ltd bought a new stake in shares of Perficient during the 4th quarter valued at about $46,000. Finally, ACG Wealth bought a new stake in shares of Perficient during the 2nd quarter valued at about $39,000. Institutional investors own 89.37% of the company’s stock.

About Perficient

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Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.