Perficient (NASDAQ:PRFT) Reaches New 52-Week Low at $44.19

Perficient, Inc. (NASDAQ:PRFT) shares reached a new 52-week low on Thursday . The company traded as low as $44.19 and last traded at $44.30, with a volume of 16599 shares. The stock had previously closed at $44.58.

Analysts Set New Price Targets

PRFT has been the subject of a number of recent research reports. Guggenheim initiated coverage on Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price target for the company. Scotiabank cut their price objective on Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. JPMorgan Chase & Co. raised their price objective on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Finally, Barrington Research reissued an “outperform” rating and issued a $77.00 price objective on shares of Perficient in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $70.00.

Perficient Price Performance

The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. The stock has a fifty day simple moving average of $60.57 and a 200-day simple moving average of $62.42. 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 released its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The business had revenue of $220.79 million during the quarter, compared to analyst estimates of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. As a group, equities research analysts expect that Perficient, Inc. will post 3.42 EPS for the current year.

Insider Buying and Selling at Perficient

In other news, CEO Thomas J. Hogan sold 8,801 shares of Perficient stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the sale, the chief executive officer now owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction that occurred 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 sale, the chief financial officer now owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas J. Hogan sold 8,801 shares of Perficient 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 sale, the chief executive officer now directly owns 193,304 shares in the company, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. Insiders have sold 13,149 shares of company stock valued at $885,619 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Perficient

Several institutional investors have recently bought and sold shares of the business. US Bancorp DE boosted its position in shares of Perficient by 22.2% during the first quarter. US Bancorp DE now owns 2,282 shares of the digital transformation consultancy’s stock worth $251,000 after buying an additional 415 shares during the period. Natixis Advisors L.P. bought a new position in shares of Perficient during the first quarter worth approximately $1,742,000. Bank of Montreal Can increased its stake in shares of Perficient by 7.1% during the first quarter. Bank of Montreal Can now owns 24,675 shares of the digital transformation consultancy’s stock worth $2,830,000 after purchasing an additional 1,639 shares during the period. MetLife Investment Management LLC grew its position in Perficient by 56.4% during the first quarter. MetLife Investment Management LLC now owns 17,325 shares of the digital transformation consultancy’s stock worth $1,907,000 after buying an additional 6,246 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in Perficient by 9.9% during the first quarter. Panagora Asset Management Inc. now owns 15,272 shares of the digital transformation consultancy’s stock worth $1,681,000 after buying an additional 1,372 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.

Perficient Company Profile

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.