Perficient (NASDAQ:PRFT) Trading Up 3.4%

Shares of Perficient, Inc. (NASDAQ:PRFT) were up 3.4% during mid-day trading on Friday . The stock traded as high as $45.11 and last traded at $45.11. Approximately 117,563 shares changed hands during trading, a decline of 45% from the average daily volume of 215,218 shares. The stock had previously closed at $43.64.

Wall Street Analysts Forecast Growth

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

Perficient Stock Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15. The business has a 50 day moving average price of $60.05 and a two-hundred day moving average price of $62.29. The company has a market cap of $1.57 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.09 and a beta of 1.43.

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

Insider Activity

In other news, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul E. Martin sold 3,664 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $246,440.64. Following the transaction, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,149 shares of company stock valued at $885,619. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRFT. Allspring Global Investments Holdings LLC grew its holdings in shares of Perficient by 40.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 250,383 shares of the digital transformation consultancy’s stock worth $14,094,000 after acquiring an additional 72,023 shares during the period. Congress Wealth Management LLC DE grew its holdings in shares of Perficient by 36.6% during the 1st quarter. Congress Wealth Management LLC DE now owns 157,396 shares of the digital transformation consultancy’s stock worth $8,860,000 after acquiring an additional 42,194 shares during the period. Park Place Capital Corp grew its holdings in shares of Perficient by 41.1% during the 1st quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock worth $66,000 after acquiring an additional 344 shares during the period. Bridge City Capital LLC grew its holdings in shares of Perficient by 35.6% during the 1st quarter. Bridge City Capital LLC now owns 34,872 shares of the digital transformation consultancy’s stock worth $1,963,000 after acquiring an additional 9,163 shares during the period. Finally, Congress Asset Management Co. MA grew its holdings in shares of Perficient by 5.3% during the 1st quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock worth $78,871,000 after acquiring an additional 71,004 shares during the period. 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.