Analysts Set Perficient, Inc. (NASDAQ:PRFT) PT at $70.00

Shares of Perficient, Inc. (NASDAQ:PRFT) have received a consensus rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $70.00.

A number of brokerages have recently issued reports on PRFT. Barrington Research restated an “outperform” rating and issued a $77.00 target price on shares of Perficient in a research note on Wednesday, February 28th. 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 on the stock. Scotiabank cut their target price on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th.

Perficient Stock Up 3.4 %

PRFT stock opened at $56.29 on Friday. Perficient has a one year low of $51.23 and a one year high of $96.93. The company has a 50 day moving average price of $65.84 and a two-hundred day moving average price of $63.15. The stock has a market capitalization of $1.97 billion, a P/E ratio of 20.40, a PEG ratio of 1.30 and a beta of 1.45. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15.

Perficient (NASDAQ:PRFT) last posted its earnings results 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 business had revenue of $220.79 million for the quarter, compared to analyst estimates of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. As a group, sell-side analysts expect that Perficient will post 3.42 EPS for the current year.

Insider Transactions at Perficient

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the business’s 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 transaction, 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 is available through this link. In related news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the transaction, the senior vice president now owns 26,533 shares in the company, valued at $1,831,838.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. In the last three months, insiders sold 13,149 shares of company stock valued at $885,619. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Perficient

Hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its stake in Perficient by 328.0% during the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock worth $10,754,000 after buying an additional 142,427 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 buying an additional 16,817 shares in the last quarter. Townsquare Capital LLC grew its stake in Perficient by 389.3% during the third quarter. Townsquare Capital LLC now owns 37,028 shares of the digital transformation consultancy’s stock worth $2,142,000 after buying an additional 29,460 shares in the last quarter. TD Asset Management Inc acquired a new stake in Perficient during the second quarter worth about $567,000. Finally, Natixis Advisors L.P. grew its stake in Perficient by 114.7% during the third quarter. Natixis Advisors L.P. now owns 51,729 shares of the digital transformation consultancy’s stock worth $2,993,000 after buying an additional 27,632 shares in the last quarter. 95.00% of the stock is 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.