Shares of Perficient, Inc. (NASDAQ:PRFT) have been given an average rating of “Buy” by the six analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $20.50.
Several analysts recently commented on the company. Zacks Investment Research downgraded Perficient from a “buy” rating to a “hold” rating in a research note on Saturday, October 7th. BidaskClub raised Perficient from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Maxim Group set a $20.00 price objective on Perficient and gave the stock a “buy” rating in a research note on Thursday, August 3rd.
Perficient (NASDAQ:PRFT) traded up 0.56% on Wednesday, reaching $19.70. The company had a trading volume of 72,369 shares. Perficient has a 12 month low of $14.15 and a 12 month high of $20.22. The firm has a 50 day moving average price of $19.09 and a 200-day moving average price of $17.99. The stock has a market capitalization of $691.80 million, a price-to-earnings ratio of 47.82 and a beta of 0.89.
Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Thursday, August 3rd. The digital transformation consultancy reported $0.29 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. The business had revenue of $117.00 million for the quarter, compared to the consensus estimate of $119.21 million. Perficient had a return on equity of 7.42% and a net margin of 3.08%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. Analysts forecast that Perficient will post $1.23 earnings per share for the current fiscal year.
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In related news, Director Ralph C. Derrickson sold 7,900 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $17.64, for a total transaction of $139,356.00. Following the sale, the director now owns 32,747 shares of the company’s stock, valued at approximately $577,657.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey S. Davis sold 2,542 shares of the firm’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $19.92, for a total value of $50,636.64. The disclosure for this sale can be found here. Insiders have sold a total of 88,847 shares of company stock worth $1,739,758 in the last ninety days. 3.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of PRFT. Dimensional Fund Advisors LP raised its stake in shares of Perficient by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,120,591 shares of the digital transformation consultancy’s stock valued at $39,528,000 after purchasing an additional 200,231 shares during the period. Vanguard Group Inc. raised its stake in shares of Perficient by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,940,485 shares of the digital transformation consultancy’s stock valued at $36,170,000 after purchasing an additional 81,226 shares during the period. Wellington Management Group LLP raised its stake in shares of Perficient by 16.2% in the 1st quarter. Wellington Management Group LLP now owns 1,815,360 shares of the digital transformation consultancy’s stock valued at $31,514,000 after purchasing an additional 253,499 shares during the period. State Street Corp raised its stake in shares of Perficient by 4.2% in the 2nd quarter. State Street Corp now owns 950,640 shares of the digital transformation consultancy’s stock valued at $17,721,000 after purchasing an additional 38,626 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Perficient by 51.6% in the 2nd quarter. Northern Trust Corp now owns 831,358 shares of the digital transformation consultancy’s stock valued at $15,497,000 after purchasing an additional 282,816 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.
Perficient Company Profile
Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.
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