Perficient, Inc. (NASDAQ:PRFT) Given Consensus Recommendation of “Buy” by Analysts

Perficient, Inc. (NASDAQ:PRFT) has been assigned an average rating of “Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $36.00.

Several analysts have issued reports on the stock. Nomura assumed coverage on shares of Perficient in a research note on Friday, June 21st. They issued a “buy” rating and a $40.00 price objective for the company. Zacks Investment Research downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. BidaskClub raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Maxim Group set a $9.00 price target on shares of Pitney Bowes and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Barrington Research reaffirmed a “buy” rating and set a $37.00 price target on shares of Perficient in a research note on Tuesday, July 16th.

Shares of NASDAQ:PRFT traded up $0.22 during trading on Monday, reaching $35.52. The company’s stock had a trading volume of 212,119 shares, compared to its average volume of 270,499. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.39. Perficient has a 12 month low of $20.92 and a 12 month high of $35.99. The company’s 50 day moving average price is $33.66. The stock has a market cap of $1.16 billion, a PE ratio of 29.36, a PEG ratio of 2.26 and a beta of 0.91.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, May 2nd. The digital transformation consultancy reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.12. The business had revenue of $133.82 million during the quarter, compared to the consensus estimate of $131.10 million. Perficient had a net margin of 5.21% and a return on equity of 11.50%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. On average, equities analysts predict that Perficient will post 1.45 EPS for the current fiscal year.

In other news, CEO Jeffrey S. Davis sold 900 shares of Perficient stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $29.62, for a total transaction of $26,658.00. Following the completion of the sale, the chief executive officer now owns 532,389 shares of the company’s stock, valued at $15,769,362.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul E. Martin sold 25,000 shares of Perficient stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $30.88, for a total transaction of $772,000.00. Following the sale, the chief financial officer now directly owns 172,674 shares of the company’s stock, valued at approximately $5,332,173.12. The disclosure for this sale can be found here. Insiders have sold 104,196 shares of company stock valued at $3,181,205 in the last ninety days. Insiders own 2.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Perficient by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 872,921 shares of the digital transformation consultancy’s stock valued at $23,909,000 after buying an additional 60,643 shares during the period. Norges Bank purchased a new position in Perficient during the fourth quarter valued at approximately $18,432,000. KAMES CAPITAL plc increased its holdings in Perficient by 72.9% during the second quarter. KAMES CAPITAL plc now owns 487,844 shares of the digital transformation consultancy’s stock valued at $16,728,000 after buying an additional 205,642 shares during the period. Geode Capital Management LLC increased its holdings in Perficient by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 362,905 shares of the digital transformation consultancy’s stock valued at $8,078,000 after buying an additional 1,224 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. increased its holdings in Perficient by 1.1% during the first quarter. Rothschild & Co. Asset Management US Inc. now owns 332,305 shares of the digital transformation consultancy’s stock valued at $9,102,000 after buying an additional 3,742 shares during the period. 89.95% of the stock is owned by hedge funds and other institutional investors.

Perficient Company Profile

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, commerce, content management, 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.

Read More: What Factors Can Affect Return on Equity?

Analyst Recommendations for Perficient (NASDAQ:PRFT)

Receive News & Ratings for Perficient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perficient and related companies with MarketBeat.com's FREE daily email newsletter.