Perficient (NASDAQ:PRFT) Hits New 12-Month Low at $43.38

Perficient, Inc. (NASDAQ:PRFT)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $43.38 and last traded at $43.80, with a volume of 104958 shares. The stock had previously closed at $45.09.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PRFT shares. Barrington Research restated an “outperform” rating and issued a $77.00 target price on shares of Perficient in a research note on Wednesday, February 28th. Alliance Global Partners raised shares of Perficient from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Tuesday. Guggenheim assumed coverage on shares of Perficient in a research note on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on Perficient from $68.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Finally, Scotiabank lowered their target price on Perficient from $70.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.67.

Perficient Stock Up 0.7 %

The firm’s 50-day simple moving average is $57.44 and its 200 day simple moving average is $61.80. 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 company has a market cap of $1.51 billion, a P/E ratio of 15.58, a PEG ratio of 1.04 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Tuesday, February 27th. The digital transformation consultancy reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.02). The company had revenue of $220.79 million during the quarter, compared to the consensus estimate of $223.79 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 EPS. On average, research analysts forecast that Perficient, Inc. will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction that occurred on 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 owns 26,533 shares in the company, valued at approximately $1,831,838.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the transaction, 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 13,149 shares of company stock valued at $885,619 in the last 90 days. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Perficient

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. acquired a new position in shares of Perficient during the 1st quarter worth approximately $108,000. Verdence Capital Advisors LLC boosted its position in Perficient by 41.5% during the first quarter. Verdence Capital Advisors LLC now owns 5,682 shares of the digital transformation consultancy’s stock worth $320,000 after purchasing an additional 1,666 shares during the period. Norden Group LLC boosted its position in Perficient by 2,123.4% during the first quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy’s stock worth $5,499,000 after purchasing an additional 93,301 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Perficient by 40.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 250,383 shares of the digital transformation consultancy’s stock valued at $14,094,000 after purchasing an additional 72,023 shares during the last quarter. Finally, Congress Wealth Management LLC DE lifted its stake in shares of Perficient by 36.6% during the 1st quarter. Congress Wealth Management LLC DE now owns 157,396 shares of the digital transformation consultancy’s stock worth $8,860,000 after buying an additional 42,194 shares during the last quarter. 95.00% of the stock is 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.