Perficient (NASDAQ:PRFT) Given “Outperform” Rating at Barrington Research

Barrington Research reissued their outperform rating on shares of Perficient (NASDAQ:PRFT) in a report released on Monday morning, Benzinga reports. Barrington Research currently has a $77.00 target price on the digital transformation consultancy’s stock.

PRFT has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their target price on Perficient from $68.00 to $71.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. Alliance Global Partners upgraded Perficient from a neutral rating to a buy rating and set a $67.00 price objective for the company in a research report on Tuesday, April 23rd. Scotiabank decreased their target price on shares of Perficient from $70.00 to $65.00 and set a sector perform rating on the stock in a research note on Wednesday, February 28th. Finally, Guggenheim began coverage on shares of Perficient in a research report on Tuesday, March 19th. They set a neutral rating and a $65.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $67.17.

Perficient Trading Up 1.1 %

Shares of PRFT stock opened at $43.46 on Monday. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.53 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.05 and a beta of 1.43. The business has a 50-day moving average price of $56.36 and a two-hundred day moving average price of $61.57. Perficient has a 12-month low of $42.51 and a 12-month high of $96.93.

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

Insider Activity at Perficient

In other Perficient 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 transaction, the chief executive officer now directly owns 193,304 shares in the company, valued at approximately $13,001,627.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Perficient news, 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 transaction of $591,955.26. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul E. Martin sold 3,664 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $246,440.64. Following the completion of the transaction, 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. Insiders have sold a total of 13,149 shares of company stock worth $885,619 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Perficient

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Perficient by 10.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,360 shares of the digital transformation consultancy’s stock worth $11,740,000 after purchasing an additional 16,350 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Perficient by 328.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock valued at $10,754,000 after acquiring an additional 142,427 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Perficient by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 336,403 shares of the digital transformation consultancy’s stock valued at $19,464,000 after acquiring an additional 16,817 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Perficient by 389.3% in the third quarter. Townsquare Capital LLC now owns 37,028 shares of the digital transformation consultancy’s stock worth $2,142,000 after acquiring an additional 29,460 shares during the period. Finally, Vanguard Group Inc. lifted its position in Perficient by 3.8% during the third quarter. Vanguard Group Inc. now owns 4,316,958 shares of the digital transformation consultancy’s stock valued at $249,779,000 after purchasing an additional 158,842 shares during the period. Hedge funds and other 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.