Perficient’s (PRFT) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Perficient (NASDAQ:PRFT) in a research report released on Monday morning, Benzinga reports.

PRFT has been the topic of a number of other reports. 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 started coverage on shares of Perficient in a research note on Tuesday, March 19th. They issued a neutral rating and a $65.00 price target for the company. Scotiabank decreased their price objective on shares of Perficient from $65.00 to $50.00 and set a sector perform rating for the company in a report on Monday, April 29th. William Blair reissued a market perform rating on shares of Perficient in a report on Monday. Finally, Barrington Research reaffirmed an outperform rating and set a $77.00 price target on shares of Perficient in a research note on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $69.50.

Perficient Price Performance

NASDAQ PRFT opened at $73.26 on Monday. The company has a 50-day moving average price of $54.81 and a two-hundred day moving average price of $61.39. Perficient has a 52 week low of $42.51 and a 52 week high of $96.93. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data 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. The business had revenue of $215.30 million during the quarter, compared to the consensus estimate of $224.99 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. Analysts forecast that Perficient will post 3.42 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Paul E. Martin sold 3,664 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 $246,440.64. Following the completion of the sale, the chief financial officer now owns 212,642 shares in the company, valued at approximately $14,302,300.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul E. Martin sold 3,664 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $246,440.64. Following the completion of the transaction, the chief financial officer now owns 212,642 shares of the company’s stock, valued at $14,302,300.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,149 shares of company stock worth $885,619. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Perficient

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in Perficient during the 4th quarter valued at $28,000. Fidelis Capital Partners LLC purchased a new position in shares of Perficient during the first quarter valued at $25,000. Parallel Advisors LLC raised its position in Perficient by 73.9% during the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after buying an additional 224 shares during the period. Principal Securities Inc. purchased a new stake in Perficient in the 4th quarter worth about $41,000. Finally, NBC Securities Inc. purchased a new stake in Perficient in the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.

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.