Perficient (NASDAQ:PRFT) Sees Large Volume Increase

Shares of Perficient, Inc. (NASDAQ:PRFTGet Rating) saw unusually-strong trading volume on Wednesday . Approximately 10,175 shares traded hands during trading, a decline of 97% from the previous session’s volume of 299,285 shares.The stock last traded at $64.40 and had previously closed at $63.61.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PRFT shares. Alliance Global Partners reduced their target price on shares of Perficient to $107.00 in a report on Tuesday, August 9th. Maxim Group restated a “buy” rating and set a $140.00 target price on shares of Perficient in a report on Friday, August 5th. Jefferies Financial Group reduced their target price on shares of Perficient from $131.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, September 14th. Scotiabank initiated coverage on shares of Perficient in a research note on Thursday, June 30th. They issued a “sector outperform” rating and a $110.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on shares of Perficient from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, August 8th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.50.

Perficient Stock Down 3.4 %

The business’s 50 day simple moving average is $84.19 and its 200-day simple moving average is $94.59. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 0.99 and a beta of 1.54. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.67 and a current ratio of 2.67.

Perficient (NASDAQ:PRFTGet Rating) last issued its earnings results on Thursday, August 4th. The digital transformation consultancy reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.14. The company had revenue of $222.74 million during the quarter, compared to analyst estimates of $228.07 million. Perficient had a net margin of 9.01% and a return on equity of 30.67%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. Sell-side analysts expect that Perficient, Inc. will post 3.8 earnings per share for the current year.

Insider Activity

In other Perficient news, Director Romil Bahl purchased 500 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were acquired at an average price of $88.89 per share, for a total transaction of $44,445.00. Following the acquisition, the director now owns 1,449 shares of the company’s stock, valued at $128,801.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRFT. First Horizon Advisors Inc. raised its holdings in shares of Perficient by 151.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 299 shares of the digital transformation consultancy’s stock valued at $28,000 after purchasing an additional 180 shares in the last quarter. CWM LLC raised its holdings in Perficient by 846.4% in the 1st quarter. CWM LLC now owns 265 shares of the digital transformation consultancy’s stock worth $29,000 after acquiring an additional 237 shares during the period. Point72 Hong Kong Ltd raised its holdings in Perficient by 1,971.4% in the 4th quarter. Point72 Hong Kong Ltd now owns 290 shares of the digital transformation consultancy’s stock worth $37,000 after acquiring an additional 276 shares during the period. ACG Wealth bought a new position in Perficient in the 2nd quarter worth $39,000. Finally, Venture Visionary Partners LLC bought a new position in Perficient in the 2nd quarter worth $40,000. Institutional investors own 93.76% of the company’s stock.

About Perficient

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Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

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