Perficient (NASDAQ:PRFT) Earns “Outperform” Rating from Barrington Research

Perficient (NASDAQ:PRFT)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a note issued to investors on Monday, Benzinga reports. They currently have a $77.00 price target on the digital transformation consultancy’s stock. Barrington Research’s price objective would indicate a potential upside of 76.93% from the company’s current price.

PRFT has been the subject of several other reports. Scotiabank reduced their price target on Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their target price on Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Alliance Global Partners raised Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Tuesday, April 23rd. Finally, Guggenheim initiated coverage on Perficient in a report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 target price for the company. Four equities research 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 presently has an average rating of “Hold” and a consensus price target of $69.67.

Perficient Stock Performance

Perficient stock traded up $0.53 during midday trading on Monday, reaching $43.52. The stock had a trading volume of 37,926 shares, compared to its average volume of 230,320. Perficient has a 12 month low of $42.51 and a 12 month high of $96.93. The firm’s 50-day moving average price is $56.90 and its 200 day moving average price is $61.68. The firm has a market capitalization of $1.53 billion, a PE ratio of 15.77, a P/E/G ratio of 1.05 and a beta of 1.43. 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 quarterly earnings data 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). The company had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. As a group, research analysts predict that Perficient will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of Perficient stock in a transaction 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 owns 193,304 shares in the company, valued at $13,001,627.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was 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 of the company’s stock, valued at approximately $1,831,838.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,149 shares of company stock worth $885,619. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perficient

A number of large investors have recently modified their holdings of PRFT. SG Americas Securities LLC acquired a new stake in Perficient during the 3rd quarter valued at $1,115,000. Dakota Wealth Management acquired a new stake in Perficient during the 3rd quarter valued at $219,000. Raymond James Financial Services Advisors Inc. grew its holdings in Perficient by 97.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,951 shares of the digital transformation consultancy’s stock valued at $749,000 after buying an additional 6,380 shares during the last quarter. Verdence Capital Advisors LLC acquired a new stake in Perficient during the 3rd quarter valued at $241,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Perficient by 21.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,039 shares of the digital transformation consultancy’s stock valued at $407,000 after buying an additional 1,251 shares during the last quarter. 95.00% of the stock is owned by hedge funds and other institutional investors.

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.