Perficient’s (PRFT) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Perficient (NASDAQ:PRFT) in a report issued on Monday morning, Benzinga reports.

A number of other brokerages also recently commented on PRFT. William Blair restated a market perform rating on shares of Perficient in a research report on Monday. JPMorgan Chase & Co. decreased their price target on Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Scotiabank cut their price objective on Perficient from $65.00 to $50.00 and set a sector perform rating for the company in a research report on Monday, April 29th. Barrington Research restated an outperform rating and set a $77.00 target price on shares of Perficient in a research report on Monday, April 29th. Finally, Guggenheim started coverage on shares of Perficient in a report on Tuesday, March 19th. They issued a neutral rating and a $65.00 price target for the company. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $70.43.

Perficient Stock Up 0.4 %

Perficient stock opened at $73.55 on Monday. The stock has a market capitalization 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 current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average of $55.17 and a two-hundred day moving average of $61.60. Perficient has a twelve month low of $42.51 and a twelve month high of $96.93.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The firm had revenue of $215.30 million for the quarter, compared to analyst estimates of $224.99 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. Perficient’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. As a group, research analysts expect that Perficient will post 3.42 earnings per share for the current year.

Insider Activity at Perficient

In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Paul E. Martin sold 3,664 shares of the company’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 transaction of $246,440.64. Following the transaction, the chief financial officer now owns 212,642 shares of the company’s stock, valued at $14,302,300.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas J. Hogan sold 8,801 shares of the firm’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 sale, the chief executive officer now 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. 2.10% 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. GAMMA Investing LLC acquired a new position in Perficient in the fourth quarter valued at $28,000. Fidelis Capital Partners LLC acquired a new position in shares of Perficient during the 1st quarter valued at about $25,000. Parallel Advisors LLC lifted its holdings in shares of Perficient by 73.9% during the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after acquiring an additional 224 shares during the period. Principal Securities Inc. purchased a new position in shares of Perficient during the 4th quarter worth about $41,000. Finally, NBC Securities Inc. acquired a new stake in shares of Perficient in the third quarter worth approximately $38,000. 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.