Perficient (NASDAQ:PRFT) Upgraded by Alliance Global Partners to Buy

Alliance Global Partners upgraded shares of Perficient (NASDAQ:PRFT) from a neutral rating to a buy rating in a research note released on Tuesday, MarketBeat reports. They currently have $67.00 price target on the digital transformation consultancy’s stock.

PRFT has been the subject of a number of other research reports. Barrington Research reiterated an outperform rating and set a $77.00 target price on shares of Perficient in a research report on Wednesday, February 28th. Guggenheim began coverage on shares of Perficient in a research note on Tuesday, March 19th. They issued a neutral rating and a $65.00 price objective for the company. Scotiabank dropped their price objective on Perficient from $70.00 to $65.00 and set a sector perform rating on the stock in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lifted their target price on Perficient from $68.00 to $71.00 and gave the company a neutral rating in a report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $69.67.

Perficient Stock Up 0.8 %

PRFT opened at $45.48 on Tuesday. The company’s 50-day moving average price is $58.51 and its two-hundred day moving average price is $62.05. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. Perficient has a twelve month low of $43.39 and a twelve month high of $96.93. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.09 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Tuesday, February 27th. The digital transformation consultancy reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.02). Perficient had a net margin of 10.91% and a return on equity of 23.39%. The firm had revenue of $220.79 million for the quarter, compared to the consensus estimate of $223.79 million. During the same period last year, the company posted $0.98 earnings per share. Perficient’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities analysts expect that Perficient will post 3.42 earnings per share for the current year.

Insider Buying and Selling

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the sale, the senior vice president now directly owns 26,533 shares in the company, valued at $1,831,838.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Kevin Thomas Sheen sold 684 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total value of $47,223.36. Following the completion of the transaction, the senior vice president now directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders sold a total of 13,149 shares of company stock worth $885,619 over the last ninety days. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perficient

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in Perficient during the fourth quarter valued at about $28,000. Parallel Advisors LLC lifted its stake in shares of Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after acquiring an additional 224 shares during the last quarter. NBC Securities Inc. purchased a new stake in Perficient during the 3rd quarter valued at about $38,000. Principal Securities Inc. bought a new position in Perficient during the 4th quarter worth approximately $41,000. Finally, Park Place Capital Corp increased its stake in Perficient by 41.1% in the 1st quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock worth $66,000 after purchasing an additional 344 shares during the period. Institutional investors 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.