Perficient, Inc. (PRFT) Stock Rating Reaffirmed by Maxim Group
Perficient, Inc. (NASDAQ:PRFT)‘s stock had its “buy” rating restated by equities researchers at Maxim Group in a report released on Thursday. They presently have a $22.00 price target on the digital transformation consultancy’s stock. Maxim Group’s target price would indicate a potential upside of 13.11% from the company’s previous close.
The analysts wrote, “3Q17 services revenue was $114 million, which was flat on an organic basis and in line with our estimate.””
A number of other analysts have also recently weighed in on PRFT. Zacks Investment Research cut shares of Perficient from a “buy” rating to a “hold” rating in a research note on Saturday, September 23rd. BidaskClub upgraded shares of Perficient from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $21.33.
Perficient (NASDAQ:PRFT) last posted its earnings results on Wednesday, November 1st. The digital transformation consultancy reported $0.34 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.34. The business had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $127.51 million. Perficient had a net margin of 3.08% and a return on equity of 7.42%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share.
In other Perficient news, CFO Paul E. Martin sold 6,082 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $20.20, for a total value of $122,856.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Jeffrey S. Davis sold 39,023 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $20.04, for a total transaction of $782,020.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,847 shares of company stock worth $1,739,758. Company insiders own 3.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PRFT. Norges Bank acquired a new position in Perficient in the fourth quarter valued at about $10,850,000. Falcon Point Capital LLC boosted its position in Perficient by 77.9% in the third quarter. Falcon Point Capital LLC now owns 964,525 shares of the digital transformation consultancy’s stock valued at $17,950,000 after buying an additional 422,211 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Perficient in the second quarter valued at about $7,796,000. Northern Trust Corp boosted its position in Perficient by 51.6% in the second quarter. Northern Trust Corp now owns 831,358 shares of the digital transformation consultancy’s stock valued at $15,497,000 after buying an additional 282,816 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Perficient by 16.2% in the first quarter. Wellington Management Group LLP now owns 1,815,360 shares of the digital transformation consultancy’s stock valued at $31,514,000 after buying an additional 253,499 shares in the last quarter. Hedge funds and other institutional investors own 74.61% of the company’s stock.
Perficient Company Profile
Perficient, Inc is an information technology and management consulting firm. 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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