Perficient’s (PRFT) Market Perform Rating Reiterated at Barrington Research

Perficient (NASDAQ:PRFT)‘s stock had its “market perform” rating restated by analysts at Barrington Research in a note issued to investors on Tuesday, Benzinga reports.

Several other research firms have also recently weighed in on PRFT. Scotiabank increased their target price on shares of Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a research note on Monday. William Blair reaffirmed a “market perform” rating on shares of Perficient in a report on Monday. Alliance Global Partners raised shares of Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a report on Tuesday, April 23rd. Needham & Company LLC reissued a “hold” rating on shares of Perficient in a report on Monday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $69.50.

Perficient Stock Performance

PRFT stock traded down $0.01 during mid-day trading on Tuesday, reaching $73.25. 1,410,705 shares of the stock traded hands, compared to its average volume of 419,070. 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 has a 52 week low of $42.51 and a 52 week high of $96.93. The business has a 50-day moving average of $54.81 and a two-hundred day moving average of $61.39. The firm has a market capitalization of $2.57 billion, a PE ratio of 26.54, a P/E/G ratio of 1.17 and a beta of 1.46.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company had revenue of $215.30 million during the quarter, compared to analysts’ expectations of $224.99 million. During the same period in the prior year, the company earned $0.89 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, equities analysts predict that Perficient will post 3.42 EPS for the current fiscal year.

Insider Buying and Selling at Perficient

In related news, CEO Thomas J. Hogan sold 8,801 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 transaction of $591,955.26. Following the completion of the transaction, the chief executive officer now directly owns 193,304 shares in the company, valued at approximately $13,001,627.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the sale, the chief executive officer now directly owns 193,304 shares in the company, valued at $13,001,627.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Paul E. Martin sold 3,664 shares of the stock in a transaction 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 $14,302,300.92. The disclosure for this sale can be found here. Insiders sold 13,149 shares of company stock valued at $885,619 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRFT. Allspring Global Investments Holdings LLC lifted its stake in shares of Perficient by 10.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,360 shares of the digital transformation consultancy’s stock valued at $11,740,000 after buying an additional 16,350 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Perficient by 328.0% in the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock valued at $10,754,000 after purchasing an additional 142,427 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Perficient by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 336,403 shares of the digital transformation consultancy’s stock valued at $19,464,000 after purchasing an additional 16,817 shares during the last quarter. Townsquare Capital LLC raised its holdings in shares of Perficient by 389.3% in the third quarter. Townsquare Capital LLC now owns 37,028 shares of the digital transformation consultancy’s stock valued at $2,142,000 after purchasing an additional 29,460 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Perficient in the fourth quarter valued at about $1,145,000. 95.00% of the stock is owned by 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.