Perficient (NASDAQ:PRFT) Stock Rating Upgraded by Alliance Global Partners

Perficient (NASDAQ:PRFT) was upgraded by investment analysts at Alliance Global Partners from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Marketbeat reports. The brokerage presently has a $67.00 price objective on the digital transformation consultancy’s stock. Alliance Global Partners’ price objective suggests a potential upside of 48.59% from the company’s previous close.

Several other analysts have also issued reports on PRFT. Scotiabank cut 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. upped their price objective on Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Barrington Research reaffirmed an “outperform” rating and issued a $77.00 price objective on shares of Perficient in a research note on Wednesday, February 28th. Finally, Guggenheim assumed coverage on Perficient in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $69.67.

Perficient Stock Down 0.9 %

PRFT stock opened at $45.09 on Tuesday. Perficient has a 1-year low of $43.39 and a 1-year high of $96.93. The business has a fifty day moving average price of $58.51 and a 200-day moving average price of $62.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15. The stock has a market capitalization of $1.58 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.10 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last posted 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 analysts’ expectations of $223.79 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts forecast that Perficient will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Perficient

In other news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total value of $47,223.36. Following the sale, the senior vice president now directly owns 26,533 shares in the company, valued at $1,831,838.32. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The disclosure for this sale can be found here. Insiders have sold a total of 13,149 shares of company stock worth $885,619 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Perficient

Several hedge funds and other institutional investors have recently bought and sold shares of PRFT. Congress Asset Management Co. MA boosted its position in Perficient by 69.1% during the 3rd quarter. Congress Asset Management Co. MA now owns 1,378,597 shares of the digital transformation consultancy’s stock valued at $79,766,000 after acquiring an additional 563,290 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Perficient during the 3rd quarter valued at $32,578,000. Wellington Management Group LLP lifted its holdings in shares of Perficient by 26.2% during the 4th quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after purchasing an additional 404,154 shares during the last quarter. Ophir Asset Management Pty Ltd purchased a new stake in shares of Perficient during the 4th quarter valued at $25,474,000. Finally, Norges Bank purchased a new stake in shares of Perficient during the 4th quarter valued at $23,950,000. Institutional investors own 95.00% of the company’s stock.

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.