Perficient (NASDAQ:PRFT) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Several other research firms have also recently commented on PRFT. ValuEngine cut shares of Perficient from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research lowered shares of Perficient from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Perficient in a research note on Friday, July 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.50.
NASDAQ PRFT opened at $30.08 on Thursday. Perficient has a 52 week low of $17.65 and a 52 week high of $30.15. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 25.20 and a beta of 0.87.
Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, August 2nd. The digital transformation consultancy reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. Perficient had a net margin of 4.85% and a return on equity of 10.21%. The firm had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $125.19 million. During the same quarter in the prior year, the firm earned $0.29 EPS. Perficient’s quarterly revenue was up 4.1% on a year-over-year basis. equities analysts expect that Perficient will post 1.17 earnings per share for the current year.
In other news, Chairman Jeffrey S. Davis sold 45,581 shares of the company’s stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $26.36, for a total value of $1,201,515.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Kackley sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $26.79, for a total transaction of $107,160.00. Following the completion of the sale, the director now directly owns 38,624 shares of the company’s stock, valued at $1,034,736.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,888 shares of company stock valued at $2,397,310. Company insiders own 3.70% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in Perficient by 9.9% during the second quarter. BlackRock Inc. now owns 4,927,517 shares of the digital transformation consultancy’s stock valued at $129,937,000 after purchasing an additional 443,431 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Perficient by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,404,130 shares of the digital transformation consultancy’s stock valued at $55,103,000 after purchasing an additional 79,985 shares during the last quarter. Investment Counselors of Maryland LLC lifted its stake in Perficient by 0.9% during the second quarter. Investment Counselors of Maryland LLC now owns 1,016,775 shares of the digital transformation consultancy’s stock valued at $26,812,000 after purchasing an additional 8,794 shares during the last quarter. Millennium Management LLC lifted its stake in Perficient by 131.3% during the first quarter. Millennium Management LLC now owns 607,772 shares of the digital transformation consultancy’s stock valued at $13,930,000 after purchasing an additional 344,959 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Perficient by 2.4% during the second quarter. Russell Investments Group Ltd. now owns 453,246 shares of the digital transformation consultancy’s stock valued at $11,952,000 after purchasing an additional 10,640 shares during the last quarter. 81.67% of the stock is owned by institutional investors.
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, 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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