Analysts Set Perficient, Inc. (NASDAQ:PRFT) PT at $70.00

Shares of Perficient, Inc. (NASDAQ:PRFT) have been given a consensus recommendation of “Hold” by the five research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $70.00.

A number of equities research analysts have issued reports on PRFT shares. Scotiabank reduced their price objective on shares of Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Guggenheim assumed coverage on shares of Perficient in a report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, Barrington Research restated an “outperform” rating and set a $77.00 price objective on shares of Perficient in a research report on Wednesday, February 28th.

Insiders Place Their Bets

In other news, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Paul E. Martin sold 3,664 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 value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were 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 in the company, valued at $13,001,627.04. The disclosure for this sale can be found here. Insiders sold 13,149 shares of company stock valued at $885,619 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of Perficient

Several institutional investors have recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC bought a new stake in shares of Perficient during the 3rd quarter worth approximately $604,000. SG Americas Securities LLC bought a new stake in shares of Perficient during the third quarter worth $1,115,000. Park Place Capital Corp purchased a new stake in shares of Perficient during the third quarter valued at $69,000. Mcrae Capital Management Inc. grew its holdings in shares of Perficient by 22.0% in the third quarter. Mcrae Capital Management Inc. now owns 235,945 shares of the digital transformation consultancy’s stock worth $13,652,000 after purchasing an additional 42,600 shares during the last quarter. Finally, Mountain Pacific Investment Advisers Inc. ID boosted its holdings in shares of Perficient by 0.4% in the third quarter. Mountain Pacific Investment Advisers Inc. ID now owns 388,087 shares of the digital transformation consultancy’s stock valued at $22,455,000 after purchasing an additional 1,472 shares during the period. Institutional investors own 95.00% of the company’s stock.

Perficient Price Performance

NASDAQ PRFT opened at $45.12 on Thursday. 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’s 50 day moving average is $58.96 and its two-hundred day moving average is $62.17. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.09 and a beta of 1.43. Perficient has a 12 month low of $43.39 and a 12 month high of $96.93.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The business had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. As a group, research analysts anticipate that Perficient will post 3.42 earnings per share for the current year.

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.