Perficient (NASDAQ:PRFT) Stock Rating Reaffirmed by Maxim Group

Perficient (NASDAQ:PRFT)‘s stock had its “hold” rating restated by investment analysts at Maxim Group in a note issued to investors on Tuesday, Benzinga reports. They presently have a $76.00 price objective on the digital transformation consultancy’s stock. Maxim Group’s price objective would suggest a potential upside of 3.33% from the company’s current price.

A number of other equities research analysts also recently issued reports on PRFT. William Blair reiterated a “market perform” rating on shares of Perficient in a research report on Monday. Alliance Global Partners upgraded Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Tuesday, April 23rd. Guggenheim began coverage on Perficient in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Perficient in a research report on Monday. Finally, Scotiabank boosted their price objective on Perficient from $50.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, Perficient currently has a consensus rating of “Hold” and an average target price of $70.43.

Perficient Price Performance

Shares of NASDAQ:PRFT opened at $73.55 on Tuesday. The company’s fifty day moving average is $55.17 and its two-hundred day moving average is $61.60. The company has a market cap of $2.58 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. Perficient has a 12-month low of $42.51 and a 12-month high of $96.93. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75.

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

Insider Activity at Perficient

In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $591,955.26. Following the sale, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total value of $47,223.36. Following the transaction, the senior vice president now directly owns 26,533 shares in the company, valued at $1,831,838.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas J. Hogan sold 8,801 shares of Perficient stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $591,955.26. Following the sale, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The disclosure for this sale can be found here. Insiders have sold a total of 13,149 shares of company stock valued at $885,619 over the last quarter. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perficient

Institutional investors and hedge funds have recently made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new stake in shares of Perficient during the first quarter worth $25,000. GAMMA Investing LLC acquired a new stake in Perficient in the 4th quarter valued at approximately $28,000. Parallel Advisors LLC lifted its stake in Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after acquiring an additional 224 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Perficient during the 3rd quarter worth approximately $38,000. Finally, Principal Securities Inc. acquired a new stake in shares of Perficient in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 95.00% of the company’s stock.

About Perficient

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.