Perficient (NASDAQ:PRFT) Lowered to Sell at StockNews.com

StockNews.com lowered shares of Perficient (NASDAQ:PRFT) from a hold rating to a sell rating in a research report report published on Tuesday.

PRFT has been the subject of several other research reports. Guggenheim assumed coverage on Perficient in a research report on Tuesday, March 19th. They issued a neutral rating and a $65.00 price target for the company. JPMorgan Chase & Co. reduced their target price on shares of Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Maxim Group reaffirmed a hold rating and set a $76.00 price target on shares of Perficient in a research note on Tuesday. Scotiabank increased their price objective on shares of Perficient from $50.00 to $76.00 and gave the stock a sector perform rating in a research report on Monday. Finally, Barrington Research reiterated a market perform rating on shares of Perficient in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, Perficient currently has an average rating of Hold and an average price target of $70.43.

Perficient Stock Up 0.0 %

Shares of PRFT stock opened at $73.28 on Tuesday. The company’s fifty day simple moving average is $54.98 and its two-hundred day simple moving average is $61.52. 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 P/E ratio of 26.55, a PEG ratio of 1.17 and a beta of 1.46. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75.

Perficient (NASDAQ:PRFT) last posted its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The company had revenue of $215.30 million for the quarter, compared to the consensus estimate of $224.99 million. During the same period in the previous year, the business earned $0.89 earnings per share. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. Analysts predict that Perficient will post 3.42 EPS for the current fiscal year.

Insider Buying and Selling at Perficient

In related news, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $591,955.26. Following the completion of the transaction, the chief executive officer now directly owns 193,304 shares in the company, valued at $13,001,627.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the 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 transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $47,223.36. Following the completion of the sale, the senior vice president now directly 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 sold 13,149 shares of company stock worth $885,619. Insiders own 2.10% of the company’s stock.

Institutional Trading of Perficient

A number of large investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in Perficient in the fourth quarter valued at approximately $28,000. Fidelis Capital Partners LLC acquired a new stake in shares of Perficient in the 1st quarter valued at $25,000. Parallel Advisors LLC lifted its position in shares of Perficient by 73.9% during the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after purchasing an additional 224 shares during the last quarter. Principal Securities Inc. acquired a new position in shares of Perficient during the fourth quarter worth $41,000. Finally, NBC Securities Inc. purchased a new position in Perficient in the third quarter valued at $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.