Perficient, Inc. (NASDAQ:PRFT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “Perficient, Inc. is an information technology and management consulting firm. Its solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others. In addition, it provides enterprise social solutions consisting of ideation and crowdsourcing, mobile apps, employee onboarding, partner and vendor collaboration, user and customer support, expert location/Q&A, and others; and digital marketing services, including search engine marketing, user experience and design, and conversion rate optimization. It provides services to the healthcare, financial services, retail and consumer goods, automotive and transport products, electronics and computer hardware, telecommunications, manufacturing, business services, and leisure, and media and entertainment markets. “

A number of other research firms also recently commented on PRFT. Maxim Group set a $20.00 price objective on shares of Perficient and gave the company a “buy” rating in a report on Thursday, August 3rd. BidaskClub downgraded shares of Perficient from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Perficient has a consensus rating of “Buy” and a consensus target price of $20.67.

Perficient (PRFT) traded up 0.81% on Friday, reaching $19.90. The company had a trading volume of 83,932 shares. Perficient has a 1-year low of $14.15 and a 1-year high of $19.95. The company’s 50-day moving average price is $18.63 and its 200 day moving average price is $17.84. The firm has a market capitalization of $698.83 million, a P/E ratio of 48.30 and a beta of 0.89.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Thursday, August 3rd. The digital transformation consultancy reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. The company had revenue of $117.00 million during the quarter, compared to the consensus estimate of $119.21 million. Perficient had a net margin of 2.06% and a return on equity of 2.69%. Perficient’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. On average, equities analysts forecast that Perficient will post $1.23 EPS for the current year.

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In other news, Director Ralph C. Derrickson sold 7,900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $17.64, for a total transaction of $139,356.00. Following the completion of the sale, the director now owns 32,747 shares in the company, valued at approximately $577,657.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey S. Davis sold 2,542 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $19.92, for a total transaction of $50,636.64. The disclosure for this sale can be found here. Insiders have sold a total of 43,742 shares of company stock valued at $834,881 in the last 90 days. Insiders own 3.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its holdings in shares of Perficient by 10.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,521 shares of the digital transformation consultancy’s stock worth $113,000 after buying an additional 637 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Perficient by 31.1% during the 1st quarter. Victory Capital Management Inc. now owns 6,860 shares of the digital transformation consultancy’s stock worth $119,000 after buying an additional 1,629 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Perficient by 77.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,942 shares of the digital transformation consultancy’s stock worth $129,000 after buying an additional 3,032 shares during the last quarter. Mason Street Advisors LLC increased its holdings in shares of Perficient by 5.1% during the 1st quarter. Mason Street Advisors LLC now owns 8,282 shares of the digital transformation consultancy’s stock worth $144,000 after buying an additional 403 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Perficient during the 1st quarter worth approximately $181,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Perficient Company Profile

Perficient, Inc is a digital transformation consultancy. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.

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