Perficient (NASDAQ:PRFT) Upgraded at Alliance Global Partners

Perficient (NASDAQ:PRFT) was upgraded by stock analysts at Alliance Global Partners from a “neutral” rating to a “buy” rating in a report released on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $67.00 price target on the digital transformation consultancy’s stock. Alliance Global Partners’ price target indicates a potential upside of 48.59% from the company’s previous close.

Several other equities research analysts also recently commented on PRFT. Barrington Research restated an “outperform” rating and issued a $77.00 price target on shares of Perficient in a research report on Wednesday, February 28th. Scotiabank reduced their price target on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Guggenheim initiated coverage on shares of Perficient in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $69.67.

Perficient Stock Down 0.9 %

PRFT stock opened at $45.09 on Tuesday. Perficient has a 12 month low of $43.39 and a 12 month high of $96.93. The firm has a market cap of $1.58 billion, a PE ratio of 16.34, a P/E/G ratio of 1.10 and a beta of 1.43. The firm has a 50 day simple moving average of $58.51 and a 200 day simple moving average of $62.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15.

Perficient (NASDAQ:PRFT) last released its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.02). Perficient had a net margin of 10.91% and a return on equity of 23.39%. The business had revenue of $220.79 million for the quarter, compared to analyst estimates of $223.79 million. During the same period in the prior year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities research analysts forecast that Perficient will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Perficient

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the company’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 value of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares in the company, valued at approximately $1,831,838.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction on Wednesday, February 21st. The shares were 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 in the company, valued at approximately $13,001,627.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares in the company, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,149 shares of company stock worth $885,619. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Perficient by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,316,958 shares of the digital transformation consultancy’s stock valued at $249,779,000 after buying an additional 158,842 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Perficient by 26.2% in the 4th quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after purchasing an additional 404,154 shares during the period. Congress Asset Management Co. MA boosted its holdings in Perficient by 5.3% in the 1st quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock valued at $78,871,000 after purchasing an additional 71,004 shares during the period. Victory Capital Management Inc. boosted its holdings in Perficient by 12.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,161,771 shares of the digital transformation consultancy’s stock valued at $67,220,000 after purchasing an additional 130,099 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Perficient by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock valued at $63,097,000 after purchasing an additional 14,606 shares during the period. Institutional investors and hedge funds 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.