Perficient (NASDAQ:PRFT) Hits New 12-Month Low at $44.19

Perficient, Inc. (NASDAQ:PRFT) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $44.19 and last traded at $44.30, with a volume of 16599 shares traded. The stock had previously closed at $44.58.

Wall Street Analysts Forecast Growth

PRFT has been the topic of several research analyst reports. Guggenheim initiated coverage on Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Barrington Research reissued an “outperform” rating and set a $77.00 price target on shares of Perficient in a research note on Wednesday, February 28th. Finally, Scotiabank decreased their price target on Perficient from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $70.00.

Perficient Trading Up 2.7 %

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 business has a 50 day moving average of $59.51 and a 200-day moving average of $62.21. The stock has a market cap of $1.57 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.09 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last posted its earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company had revenue of $220.79 million during the quarter, compared to analysts’ expectations of $223.79 million. During the same period in the previous year, the company posted $0.98 EPS. Perficient’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, analysts anticipate that Perficient, Inc. will post 3.42 EPS for the current year.

Insider Activity at Perficient

In other Perficient news, CEO Thomas J. Hogan sold 8,801 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 $591,955.26. Following the transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Perficient news, 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 transaction, the chief financial officer now owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas J. Hogan sold 8,801 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 value of $591,955.26. Following the transaction, the chief executive officer now directly owns 193,304 shares in the company, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,149 shares of company stock valued at $885,619. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Norden Group LLC lifted its stake in shares of Perficient by 2,123.4% during the 1st quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy’s stock worth $5,499,000 after purchasing an additional 93,301 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Perficient by 40.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 250,383 shares of the digital transformation consultancy’s stock worth $14,094,000 after buying an additional 72,023 shares during the last quarter. Congress Wealth Management LLC DE increased its holdings in shares of Perficient by 36.6% during the 1st quarter. Congress Wealth Management LLC DE now owns 157,396 shares of the digital transformation consultancy’s stock worth $8,860,000 after buying an additional 42,194 shares during the last quarter. Park Place Capital Corp increased its holdings in shares of Perficient by 41.1% during the 1st quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock worth $66,000 after buying an additional 344 shares during the last quarter. Finally, Bridge City Capital LLC increased its holdings in shares of Perficient by 35.6% during the 1st quarter. Bridge City Capital LLC now owns 34,872 shares of the digital transformation consultancy’s stock worth $1,963,000 after buying an additional 9,163 shares during the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.

About Perficient

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.