Perficient’s (PRFT) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Perficient (NASDAQ:PRFT) in a research report sent to investors on Monday, Benzinga reports.

Several other research analysts have also recently commented on the stock. Alliance Global Partners upgraded shares of Perficient from a neutral rating to a buy rating and set a $67.00 price target for the company in a report on Tuesday, April 23rd. Guggenheim initiated coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a neutral rating and a $65.00 target price for the company. Scotiabank cut their price target on Perficient from $65.00 to $50.00 and set a sector perform rating on the stock in a research note on Monday, April 29th. William Blair reaffirmed a market perform rating on shares of Perficient in a report on Monday. Finally, JPMorgan Chase & Co. dropped their price objective on Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Perficient currently has an average rating of Hold and an average price target of $69.50.

Perficient Stock Up 52.3 %

Shares of NASDAQ:PRFT opened at $73.26 on Monday. The firm’s 50-day moving average is $54.81 and its two-hundred day moving average is $61.39. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.15 and a quick ratio of 4.15. Perficient has a 1 year low of $42.51 and a 1 year high of $96.93. The firm has a market capitalization of $2.57 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46.

Perficient (NASDAQ:PRFT) last announced its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The firm had revenue of $215.30 million for the quarter, compared to the consensus estimate of $224.99 million. During the same period in the prior year, the firm earned $0.89 EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. Analysts predict that Perficient will post 3.42 EPS for the current year.

Insider Transactions at Perficient

In related news, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $591,955.26. Following the completion of the sale, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $591,955.26. Following the completion of the sale, the chief executive officer now owns 193,304 shares in the company, valued at approximately $13,001,627.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul E. Martin sold 3,664 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $246,440.64. Following the sale, the chief financial officer now owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,149 shares of company stock worth $885,619. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Perficient

Several institutional investors have recently added to or reduced their stakes in PRFT. Raymond James Financial Services Advisors Inc. lifted its position in Perficient by 97.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,951 shares of the digital transformation consultancy’s stock worth $749,000 after acquiring an additional 6,380 shares during the period. Verdence Capital Advisors LLC acquired a new stake in shares of Perficient during the third quarter worth $241,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Perficient by 21.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,039 shares of the digital transformation consultancy’s stock valued at $407,000 after buying an additional 1,251 shares during the last quarter. Park Avenue Securities LLC purchased a new position in Perficient in the 3rd quarter valued at $210,000. Finally, Inspire Advisors LLC acquired a new position in Perficient in the 3rd quarter valued at $740,000. Institutional investors and hedge funds own 95.00% of the company’s stock.

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.