Scotiabank Raises Perficient (NASDAQ:PRFT) Price Target to $76.00

Perficient (NASDAQ:PRFT) had its target price hoisted by Scotiabank from $50.00 to $76.00 in a research report released on Monday morning, Benzinga reports. They currently have a sector perform rating on the digital transformation consultancy’s stock.

Other analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a hold rating on shares of Perficient in a report on Monday. Alliance Global Partners upgraded Perficient from a neutral rating to a buy rating and set a $67.00 price target on the stock in a research report on Tuesday, April 23rd. William Blair reiterated a market perform rating on shares of Perficient in a report on Monday. JPMorgan Chase & Co. decreased their price objective on Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a report on Thursday, May 2nd. Finally, Guggenheim initiated coverage on Perficient in a research report on Tuesday, March 19th. They issued a neutral rating and a $65.00 target price for the company. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $70.43.

Perficient Trading Up 0.4 %

NASDAQ:PRFT opened at $73.55 on Monday. Perficient has a 52 week low of $42.51 and a 52 week high of $96.93. The firm has a 50-day moving average price of $55.17 and a two-hundred day moving average price of $61.60. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company had revenue of $215.30 million for the quarter, compared to the consensus estimate of $224.99 million. During the same period in the previous year, the firm earned $0.89 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. On average, equities analysts expect that Perficient will post 3.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction, the chief financial officer now owns 212,642 shares in the company, valued at $14,302,300.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Kevin Thomas Sheen sold 684 shares of the firm’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 sale, the senior vice president now directly owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $246,440.64. Following the transaction, the chief financial officer now directly 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 13,149 shares of company stock valued at $885,619 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Perficient

A number of large investors have recently made changes to their positions in PRFT. Fidelis Capital Partners LLC purchased a new stake in Perficient in the first quarter worth $25,000. GAMMA Investing LLC bought a new stake in shares of Perficient during the 4th quarter valued at about $28,000. Parallel Advisors LLC increased its position in shares of Perficient by 73.9% during the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after buying an additional 224 shares during the period. NBC Securities Inc. bought a new position in Perficient in the third quarter worth about $38,000. Finally, Principal Securities Inc. bought a new position in Perficient in the fourth quarter worth about $41,000. 95.00% of the stock is currently owned by 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.