Perficient (NASDAQ:PRFT) Stock Rating Reaffirmed by Maxim Group

Perficient (NASDAQ:PRFTGet Rating)‘s stock had its “buy” rating reissued by equities research analysts at Maxim Group in a report released on Friday. They presently have a $140.00 price target on the digital transformation consultancy’s stock. Maxim Group’s price target would suggest a potential upside of 57.64% from the stock’s previous close.

Other analysts have also issued reports about the company. Scotiabank started coverage on Perficient in a research note on Thursday, June 30th. They issued a “sector outperform” rating and a $110.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Perficient from $133.00 to $123.00 in a research note on Wednesday, July 20th. William Blair reaffirmed an “outperform” rating on shares of Perficient in a research note on Thursday, June 9th. Needham & Company LLC reduced their price objective on Perficient from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Morgan Stanley started coverage on Perficient in a research note on Tuesday, April 26th. They issued an “equal weight” rating and a $120.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.71.

Perficient Price Performance

Shares of NASDAQ PRFT traded down $4.27 during mid-day trading on Friday, reaching $88.81. The company had a trading volume of 302,068 shares, compared to its average volume of 178,504. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.38 and a current ratio of 2.67. Perficient has a one year low of $86.24 and a one year high of $153.28. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 41.70, a PEG ratio of 1.37 and a beta of 1.47. The business’s 50-day simple moving average is $95.53 and its 200 day simple moving average is $100.37.

Perficient (NASDAQ:PRFTGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The digital transformation consultancy reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. Perficient had a return on equity of 30.67% and a net margin of 9.01%. The company had revenue of $222.74 million for the quarter, compared to analysts’ expectations of $228.07 million. During the same quarter last year, the business earned $0.71 earnings per share. Perficient’s revenue was up 21.0% on a year-over-year basis. On average, research analysts predict that Perficient will post 3.76 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ralph C. Derrickson sold 5,000 shares of Perficient stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $96.15, for a total transaction of $480,750.00. Following the sale, the director now directly owns 37,281 shares of the company’s stock, valued at $3,584,568.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Perficient

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its position in shares of Perficient by 319.0% during the fourth quarter. Russell Investments Group Ltd. now owns 10,694 shares of the digital transformation consultancy’s stock valued at $1,380,000 after buying an additional 8,142 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Perficient during the fourth quarter valued at approximately $2,840,000. Commonwealth Equity Services LLC boosted its position in shares of Perficient by 14.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,336 shares of the digital transformation consultancy’s stock valued at $948,000 after buying an additional 909 shares during the last quarter. Xponance Inc. purchased a new position in shares of Perficient during the fourth quarter valued at approximately $202,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Perficient during the fourth quarter valued at approximately $1,493,000. 89.37% of the stock is owned by institutional investors and hedge funds.

About Perficient

(Get Rating)

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

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Analyst Recommendations for Perficient (NASDAQ:PRFT)

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