Maxim Group reissued their buy rating on shares of Perficient, Inc. (NASDAQ:PRFT) in a report published on Thursday morning, Marketbeat Ratings reports. They currently have a $22.00 price objective on the digital transformation consultancy’s stock, up from their previous price objective of $20.00.
“3Q17 services revenue was $114 million, which was flat on an organic basis and in line with our estimate.”,” Maxim Group’s analyst commented.
Several other equities research analysts also recently weighed in on PRFT. Zacks Investment Research downgraded shares of Perficient from a buy rating to a hold rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Perficient from a hold rating to a sell rating in a research report on Saturday, July 8th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $21.33.
Perficient (NASDAQ PRFT) traded up $0.03 during midday trading on Thursday, hitting $19.03. 127,870 shares of the company traded hands, compared to its average volume of 89,007. The stock has a market cap of $663.25, a P/E ratio of 21.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.92 and a current ratio of 2.92.
Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, November 2nd. The digital transformation consultancy reported $0.34 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.34. The company had revenue of $123.70 million during the quarter, compared to analyst estimates of $127.51 million. Perficient had a net margin of 5.68% and a return on equity of 7.76%. Perficient’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. analysts expect that Perficient will post 0.95 EPS for the current fiscal year.
In other Perficient news, CFO Paul E. Martin sold 6,082 shares of Perficient stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $20.20, for a total value of $122,856.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey S. Davis sold 39,023 shares of Perficient stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $20.04, for a total transaction of $782,020.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,847 shares of company stock valued at $1,739,758. 3.70% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. California Public Employees Retirement System grew its position in shares of Perficient by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 146,400 shares of the digital transformation consultancy’s stock valued at $2,729,000 after acquiring an additional 3,200 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Perficient by 76.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 178,301 shares of the digital transformation consultancy’s stock valued at $3,324,000 after acquiring an additional 77,429 shares during the period. Morgan Stanley grew its position in shares of Perficient by 15.6% during the 1st quarter. Morgan Stanley now owns 225,480 shares of the digital transformation consultancy’s stock valued at $3,916,000 after acquiring an additional 30,353 shares during the period. Systematic Financial Management LP grew its position in shares of Perficient by 14.9% during the 2nd quarter. Systematic Financial Management LP now owns 85,705 shares of the digital transformation consultancy’s stock valued at $1,598,000 after acquiring an additional 11,140 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Perficient by 332.4% during the 2nd quarter. Alliancebernstein L.P. now owns 199,350 shares of the digital transformation consultancy’s stock valued at $3,716,000 after acquiring an additional 153,250 shares during the period. 74.75% of the stock is owned by hedge funds and other institutional investors.
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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