Perficient (NASDAQ:PRFT) had its price objective lifted by SunTrust Banks to $33.00 in a report released on Friday morning, The Fly reports. They currently have a buy rating on the digital transformation consultancy’s stock.

Several other equities analysts also recently commented on PRFT. BidaskClub downgraded Perficient from a strong-buy rating to a buy rating in a research report on Friday, June 8th. ValuEngine downgraded Perficient from a strong-buy rating to a buy rating in a research report on Tuesday, June 26th. Zacks Investment Research downgraded Perficient from a buy rating to a hold rating in a research report on Wednesday, July 4th. Finally, Needham & Company LLC restated a buy rating and issued a $30.00 price objective on shares of Perficient in a research report on Friday, July 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $29.25.

Shares of Perficient stock traded down $0.18 during trading hours on Friday, hitting $30.17. The company’s stock had a trading volume of 149,423 shares, compared to its average volume of 291,137. Perficient has a 12-month low of $17.65 and a 12-month high of $31.09. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 31.76 and a beta of 0.87. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.15.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, August 2nd. The digital transformation consultancy reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Perficient had a return on equity of 10.21% and a net margin of 4.85%. The business had revenue of $121.80 million for the quarter, compared to the consensus estimate of $125.19 million. During the same period in the previous year, the business earned $0.29 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. equities analysts expect that Perficient will post 1.17 earnings per share for the current year.

In other news, Chairman Jeffrey S. Davis sold 45,581 shares of Perficient stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $26.36, for a total value of $1,201,515.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 86,888 shares of company stock worth $2,290,150 over the last ninety days. Insiders own 3.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Schroder Investment Management Group bought a new stake in shares of Perficient in the second quarter worth about $5,714,000. Advisors Asset Management Inc. increased its holdings in shares of Perficient by 2,633.4% in the second quarter. Advisors Asset Management Inc. now owns 221,488 shares of the digital transformation consultancy’s stock worth $114,000 after purchasing an additional 213,385 shares during the last quarter. Granahan Investment Management Inc. MA increased its holdings in shares of Perficient by 1.8% in the second quarter. Granahan Investment Management Inc. MA now owns 180,209 shares of the digital transformation consultancy’s stock worth $4,752,000 after purchasing an additional 3,127 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Perficient by 32.3% in the second quarter. Voya Investment Management LLC now owns 55,237 shares of the digital transformation consultancy’s stock worth $1,457,000 after purchasing an additional 13,478 shares during the last quarter. Finally, BlueMountain Capital Management LLC bought a new stake in shares of Perficient in the second quarter worth about $179,000. 81.67% of the stock is currently owned by hedge funds and other institutional investors.

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, 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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