Perficient, Inc. (PRFT) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Perficient, Inc. (NASDAQ:PRFT) have been given an average rating of “Buy” by the eight research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $32.60.

A number of analysts have commented on the stock. BidaskClub raised shares of Perficient from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research cut shares of Perficient from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Maxim Group reissued a “buy” rating and issued a $37.00 price objective on shares of Perficient in a research note on Wednesday, April 24th. Finally, Barrington Research reissued a “buy” rating and issued a $33.00 price objective on shares of Perficient in a research note on Wednesday, February 27th.

In other news, CEO Jeffrey S. Davis sold 900 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $29.62, for a total value of $26,658.00. Following the completion of the sale, the chief executive officer now directly owns 532,389 shares of the company’s stock, valued at $15,769,362.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Thomas J. Hogan sold 3,380 shares of the stock in a transaction on Saturday, March 2nd. The stock was sold at an average price of $29.20, for a total transaction of $98,696.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 320,357 shares of company stock valued at $9,388,058. Corporate insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PRFT. Norges Bank purchased a new stake in shares of Perficient in the fourth quarter worth $18,432,000. Moneta Group Investment Advisors LLC bought a new position in shares of Perficient during the fourth quarter worth $16,247,000. Nomura Holdings Inc. boosted its position in shares of Perficient by 2,931.4% during the fourth quarter. Nomura Holdings Inc. now owns 325,122 shares of the digital transformation consultancy’s stock worth $7,198,000 after acquiring an additional 314,397 shares during the last quarter. Oak Ridge Investments LLC bought a new position in shares of Perficient during the fourth quarter worth $6,901,000. Finally, New Amsterdam Partners LLC NY bought a new position in shares of Perficient during the first quarter worth $3,206,000. 92.26% of the stock is owned by hedge funds and other institutional investors.

PRFT stock traded down $0.36 during midday trading on Wednesday, reaching $30.70. 337,300 shares of the company’s stock traded hands, compared to its average volume of 231,543. Perficient has a 52-week low of $20.92 and a 52-week high of $32.92. The stock has a market cap of $1.06 billion, a P/E ratio of 25.42, a P/E/G ratio of 2.38 and a beta of 0.96. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.39.

Perficient (NASDAQ:PRFT) last announced its earnings results on Thursday, May 2nd. The digital transformation consultancy reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.12. Perficient had a net margin of 5.21% and a return on equity of 11.50%. The business had revenue of $133.82 million during the quarter, compared to analysts’ expectations of $131.10 million. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. As a group, equities analysts forecast that Perficient will post 1.32 earnings per share for the current year.

About Perficient

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, commerce, content management, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

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Analyst Recommendations for Perficient (NASDAQ:PRFT)

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