Perficient (NASDAQ:PRFT) Sees Large Volume Increase

Perficient, Inc. (NASDAQ:PRFT) saw unusually-high trading volume on Tuesday . Approximately 669,741 shares changed hands during trading, an increase of 180% from the previous session’s volume of 239,621 shares.The stock last traded at $46.00 and had previously closed at $43.46.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barrington Research reiterated an “outperform” rating and set a $77.00 price target on shares of Perficient in a research report on Monday. Alliance Global Partners raised Perficient from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of Perficient from $68.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Scotiabank cut their price target on shares of Perficient from $65.00 to $50.00 and set a “sector perform” rating for the company in a report on Monday. Finally, Guggenheim began coverage on shares of Perficient in a report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.17.

Perficient Trading Down 0.0 %

The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.15 and a beta of 1.46. 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 fifty day moving average price of $55.92 and a two-hundred day moving average price of $61.50.

Perficient (NASDAQ:PRFT) last announced its quarterly 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). Perficient had a return on equity of 23.39% and a net margin of 10.91%. The firm had revenue of $220.79 million for the quarter, compared to analyst estimates of $223.79 million. During the same quarter in the prior year, the business earned $0.98 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, research analysts forecast that Perficient, Inc. will post 3.42 earnings per share for the current fiscal year.

Insider Activity at Perficient

In related news, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following 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 SEC, 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 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas J. Hogan sold 8,801 shares of the company’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 $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. In the last quarter, insiders sold 13,149 shares of company stock worth $885,619. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Perficient by 36.8% in the first quarter. BNP Paribas Financial Markets now owns 34,266 shares of the digital transformation consultancy’s stock valued at $1,929,000 after purchasing an additional 9,222 shares during the last quarter. Norden Group LLC lifted its stake in Perficient by 47.4% in the first quarter. Norden Group LLC now owns 6,477 shares of the digital transformation consultancy’s stock valued at $365,000 after buying an additional 2,083 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Perficient by 40.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 250,383 shares of the digital transformation consultancy’s stock valued at $14,094,000 after acquiring an additional 72,023 shares during the period. YHB Investment Advisors Inc. acquired a new stake in shares of Perficient in the first quarter valued at approximately $108,000. Finally, Verdence Capital Advisors LLC boosted its stake in Perficient by 41.5% during the 1st quarter. Verdence Capital Advisors LLC now owns 5,682 shares of the digital transformation consultancy’s stock worth $320,000 after purchasing an additional 1,666 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.