Perficient, Inc. (NASDAQ:PRFT) Chairman Sells $1,038,004.83 in Stock

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Perficient, Inc. (NASDAQ:PRFT) Chairman Jeffrey S. Davis sold 43,413 shares of Perficient stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $23.91, for a total value of $1,038,004.83. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Jeffrey S. Davis also recently made the following trade(s):

  • On Thursday, March 8th, Jeffrey S. Davis sold 4,649 shares of Perficient stock. The stock was sold at an average price of $23.88, for a total value of $111,018.12.

NASDAQ:PRFT traded down $0.44 during mid-day trading on Friday, reaching $22.88. 170,598 shares of the company’s stock traded hands, compared to its average volume of 249,226. Perficient, Inc. has a 12-month low of $16.20 and a 12-month high of $24.30. The company has a market cap of $790.70, a PE ratio of 24.08 and a beta of 0.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 2.11.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings results on Thursday, March 1st. The digital transformation consultancy reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The company had revenue of $133.48 million for the quarter, compared to the consensus estimate of $119.70 million. Perficient had a return on equity of 8.90% and a net margin of 3.83%. Perficient’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. analysts expect that Perficient, Inc. will post 1.11 EPS for the current fiscal year.

Perficient announced that its board has authorized a stock buyback plan on Thursday, March 1st that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the digital transformation consultancy to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

PRFT has been the subject of several research analyst reports. SunTrust Banks lifted their price target on Perficient to $26.00 and gave the stock a “buy” rating in a research note on Monday, March 5th. Zacks Investment Research upgraded Perficient from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, January 4th. Maxim Group reiterated a “buy” rating and issued a $24.00 price objective on shares of Perficient in a report on Friday, February 16th. BidaskClub upgraded Perficient from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. Finally, ValuEngine upgraded Perficient from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $24.00.

A number of institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System boosted its position in Perficient by 2.2% during the 3rd quarter. California Public Employees Retirement System now owns 149,582 shares of the digital transformation consultancy’s stock valued at $2,942,000 after acquiring an additional 3,182 shares in the last quarter. First Trust Advisors LP boosted its position in Perficient by 12.1% during the 4th quarter. First Trust Advisors LP now owns 31,248 shares of the digital transformation consultancy’s stock valued at $596,000 after acquiring an additional 3,365 shares in the last quarter. Victory Capital Management Inc. boosted its position in Perficient by 47.7% during the 3rd quarter. Victory Capital Management Inc. now owns 11,923 shares of the digital transformation consultancy’s stock valued at $235,000 after acquiring an additional 3,853 shares in the last quarter. GSA Capital Partners LLP boosted its position in Perficient by 5.0% during the 3rd quarter. GSA Capital Partners LLP now owns 93,986 shares of the digital transformation consultancy’s stock valued at $1,849,000 after acquiring an additional 4,496 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in Perficient by 60.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 13,230 shares of the digital transformation consultancy’s stock valued at $260,000 after acquiring an additional 4,980 shares in the last quarter. 82.42% of the stock is currently owned by institutional investors and hedge funds.

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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.

Insider Buying and Selling by Quarter for Perficient (NASDAQ:PRFT)

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