Barrington Research Reiterates Market Perform Rating for Perficient (NASDAQ:PRFT)

Perficient (NASDAQ:PRFT)‘s stock had its “market perform” rating reiterated by stock analysts at Barrington Research in a research report issued on Tuesday, Benzinga reports.

PRFT has been the subject of several other research reports. William Blair reissued a “market perform” rating on shares of Perficient in a report on Monday. Guggenheim initiated coverage on shares of Perficient in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Perficient in a report on Monday. Alliance Global Partners raised shares of Perficient from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. cut their price target on Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.43.

Perficient Stock Up 0.4 %

PRFT opened at $73.55 on Tuesday. Perficient has a twelve month low of $42.51 and a twelve month high of $96.93. The company’s 50-day moving average price is $55.17 and its two-hundred day moving average price is $61.60. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 26.65, a PEG 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 data on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business had revenue of $215.30 million for the quarter, compared to the consensus estimate of $224.99 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. Perficient’s revenue for the quarter was down 7.0% 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.

Insiders Place Their Bets

In other news, CFO Paul E. Martin sold 3,664 shares of Perficient stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $246,440.64. Following the completion of the sale, the chief financial officer now owns 212,642 shares in the company, valued at approximately $14,302,300.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Kevin Thomas Sheen sold 684 shares of Perficient 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul E. Martin sold 3,664 shares of the stock in a transaction 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 directly owns 212,642 shares in the company, valued at approximately $14,302,300.92. The disclosure for this sale can be found here. Insiders have sold 13,149 shares of company stock worth $885,619 in the last ninety days. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Perficient

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in 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 buying an additional 16,350 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Perficient by 328.0% in 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 purchasing an additional 142,427 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 purchasing an additional 16,817 shares during the last quarter. Townsquare Capital LLC raised its position in Perficient by 389.3% in the 3rd quarter. Townsquare Capital LLC now owns 37,028 shares of the digital transformation consultancy’s stock worth $2,142,000 after purchasing an additional 29,460 shares during the period. Finally, Louisiana State Employees Retirement System bought a new stake in Perficient in the fourth quarter worth $1,145,000. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

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.