Perficient (NASDAQ:PRFT) Upgraded to Buy by Alliance Global Partners

Alliance Global Partners upgraded shares of Perficient (NASDAQ:PRFT) from a neutral rating to a buy rating in a report published on Tuesday, MarketBeat reports. The firm currently has $67.00 price target on the digital transformation consultancy’s stock.

PRFT has been the topic of a number of other research reports. Scotiabank dropped their price objective on shares of 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 shares of Perficient from $68.00 to $71.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. Guggenheim began coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a neutral rating and a $65.00 price objective on the stock. Finally, Barrington Research reaffirmed an outperform rating and set a $77.00 price objective on shares of Perficient in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $69.67.

Perficient Price Performance

Shares of NASDAQ:PRFT opened at $42.99 on Tuesday. Perficient has a twelve month low of $42.51 and a twelve month high of $96.93. The company’s 50 day moving average is $57.44 and its 200 day moving average is $61.80. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The company has a market cap of $1.51 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.10 and a beta of 1.43.

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

Insider Activity at Perficient

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in Perficient in the 4th quarter valued at $28,000. Parallel Advisors LLC raised its holdings 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 acquiring an additional 224 shares during the period. Principal Securities Inc. purchased a new position in shares of Perficient during the 4th quarter worth $41,000. NBC Securities Inc. purchased a new position in shares of Perficient during the 3rd quarter worth $38,000. Finally, Park Place Capital Corp raised 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. Hedge funds and other 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.