Perficient, Inc. (NASDAQ:PRFT) Given Consensus Recommendation of “Buy” by Brokerages

Perficient, Inc. (NASDAQ:PRFT) has been given a consensus recommendation of “Buy” by the seven analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $38.33.

A number of equities analysts have recently commented on the stock. Nomura assumed coverage on shares of Perficient in a report on Friday, June 21st. They issued a “buy” rating and a $40.00 target price on the stock. Maxim Group reaffirmed a “buy” rating and issued a $41.00 target price on shares of Perficient in a report on Wednesday, July 24th. Zacks Investment Research upgraded shares of Perficient from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research report on Tuesday, August 6th. Barrington Research lifted their price objective on shares of Perficient from $37.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, BidaskClub upgraded shares of Perficient from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th.

In other Perficient news, Chairman Jeffrey S. Davis sold 25,302 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $36.42, for a total transaction of $921,498.84. Following the sale, the chairman now directly owns 429,691 shares in the company, valued at approximately $15,649,346.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Kackley sold 7,928 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $35.55, for a total transaction of $281,840.40. Following the sale, the director now owns 33,708 shares in the company, valued at $1,198,319.40. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.



A number of hedge funds have recently made changes to their positions in PRFT. Geode Capital Management LLC raised its stake in shares of Perficient by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 362,905 shares of the digital transformation consultancy’s stock worth $8,078,000 after acquiring an additional 1,224 shares in the last quarter. Bank of America Corp DE increased its stake in Perficient by 389.7% during the 4th quarter. Bank of America Corp DE now owns 63,446 shares of the digital transformation consultancy’s stock valued at $1,412,000 after purchasing an additional 50,490 shares in the last quarter. Squarepoint Ops LLC increased its stake in Perficient by 18.6% during the 4th quarter. Squarepoint Ops LLC now owns 18,986 shares of the digital transformation consultancy’s stock valued at $423,000 after purchasing an additional 2,972 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Perficient by 304.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,521 shares of the digital transformation consultancy’s stock valued at $256,000 after purchasing an additional 8,670 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Perficient during the 4th quarter valued at approximately $221,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Perficient stock traded up $1.02 during trading on Friday, reaching $35.25. The stock had a trading volume of 279,200 shares, compared to its average volume of 279,923. Perficient has a 52-week low of $20.92 and a 52-week high of $38.80. The business has a 50 day moving average price of $35.08 and a 200 day moving average price of $30.75. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.40. The stock has a market cap of $1.18 billion, a PE ratio of 29.13, a P/E/G ratio of 2.12 and a beta of 0.87.

Perficient (NASDAQ:PRFT) last announced its earnings results on Thursday, August 1st. The digital transformation consultancy reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $141.90 million for the quarter, compared to analysts’ expectations of $137.05 million. Perficient had a net margin of 5.52% and a return on equity of 12.31%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. On average, equities analysts predict that Perficient will post 1.58 EPS for the current fiscal year.

About Perficient

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, commerce, content management, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

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Analyst Recommendations for Perficient (NASDAQ:PRFT)

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