Perficient (NASDAQ:PRFT) PT Lowered to $59.00 at JPMorgan Chase & Co.

Perficient (NASDAQ:PRFT) had its price target reduced by JPMorgan Chase & Co. from $71.00 to $59.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the digital transformation consultancy’s stock.

A number of other analysts also recently issued reports on the stock. Guggenheim began coverage on shares of Perficient in a report on Tuesday, March 19th. They issued a neutral rating and a $65.00 price target on the stock. Scotiabank dropped their price target on Perficient from $65.00 to $50.00 and set a sector perform rating for the company in a research note on Monday, April 29th. Barrington Research restated an outperform rating and set a $77.00 price target on shares of Perficient in a report on Monday, April 29th. Finally, Alliance Global Partners raised Perficient from a neutral rating to a buy rating and set a $67.00 price objective on the stock in a report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $65.17.

Perficient Price Performance

NASDAQ:PRFT opened at $48.11 on Thursday. The business’s 50-day simple moving average is $54.70 and its two-hundred day simple moving average is $61.28. Perficient has a 52 week low of $42.51 and a 52 week high of $96.93. The stock has a market cap of $1.69 billion, a PE ratio of 17.43, a P/E/G ratio of 1.17 and a beta of 1.46. 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 (NASDAQ:PRFT) last posted its quarterly earnings results on Tuesday, February 27th. The digital transformation consultancy reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business had revenue of $220.79 million during the quarter, compared to analysts’ expectations of $223.79 million. During the same period in the prior year, the firm posted $0.98 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, analysts forecast that Perficient will post 3.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 26,533 shares in the company, valued at $1,831,838.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the sale, the chief executive officer now 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 have sold 13,149 shares of company stock valued at $885,619 over the last ninety days. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Fidelis Capital Partners LLC purchased a new stake in shares of Perficient in the first quarter worth approximately $25,000. BNP Paribas Financial Markets grew its position in Perficient by 36.8% in the 1st quarter. BNP Paribas Financial Markets now owns 34,266 shares of the digital transformation consultancy’s stock valued at $1,929,000 after acquiring an additional 9,222 shares during the last quarter. Norden Group LLC increased its stake in Perficient by 47.4% in the first quarter. Norden Group LLC now owns 6,477 shares of the digital transformation consultancy’s stock worth $365,000 after purchasing an additional 2,083 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Perficient by 40.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 250,383 shares of the digital transformation consultancy’s stock worth $14,094,000 after purchasing an additional 72,023 shares during the last quarter. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of Perficient during the first quarter valued at $108,000. 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.