Maxim Group Reiterates Buy Rating for Perficient (NASDAQ:PRFT)

Perficient (NASDAQ:PRFT)‘s stock had its “buy” rating reiterated by stock analysts at Maxim Group in a note issued to investors on Friday, AnalystRatings.com reports. They presently have a $50.00 target price on the digital transformation consultancy’s stock. Maxim Group’s target price would suggest a potential upside of 28.40% from the stock’s previous close.

A number of other research analysts have also issued reports on PRFT. BidaskClub lowered shares of Perficient from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 2nd. Barrington Research reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Perficient in a report on Thursday, September 12th. William Blair started coverage on shares of Perficient in a report on Monday, September 9th. They issued an “outperform” rating on the stock. National Securities started coverage on shares of Perficient in a report on Tuesday, October 22nd. They issued a “buy” rating and a $46.00 price objective on the stock. Finally, ValuEngine downgraded shares of Perficient from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $41.83.

Shares of NASDAQ:PRFT traded up $0.56 during trading hours on Friday, hitting $38.94. The company’s stock had a trading volume of 551,900 shares, compared to its average volume of 282,685. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.30 and a quick ratio of 2.30. Perficient has a 52 week low of $20.92 and a 52 week high of $41.82. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 2.26 and a beta of 0.79. The firm’s fifty day moving average price is $38.11 and its 200 day moving average price is $34.92.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Thursday, November 7th. The digital transformation consultancy reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.04. Perficient had a net margin of 5.52% and a return on equity of 12.31%. The business had revenue of $144.68 million for the quarter, compared to analyst estimates of $143.17 million. During the same quarter in the prior year, the business posted $0.41 EPS. Perficient’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities research analysts predict that Perficient will post 1.58 earnings per share for the current fiscal year.

In other news, Director David S. Lundeen sold 10,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $36.09, for a total value of $360,900.00. Following the sale, the director now directly owns 48,857 shares of the company’s stock, valued at approximately $1,763,249.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC boosted its holdings in Perficient by 1,766.7% during the third quarter. CWM LLC now owns 672 shares of the digital transformation consultancy’s stock worth $26,000 after buying an additional 636 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Perficient by 187.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,586 shares of the digital transformation consultancy’s stock worth $54,000 after buying an additional 1,034 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Perficient by 84.9% during the second quarter. Meeder Asset Management Inc. now owns 2,209 shares of the digital transformation consultancy’s stock worth $76,000 after buying an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Perficient during the second quarter worth $101,000. Finally, Advisor Group Inc. boosted its holdings in Perficient by 397.6% during the second quarter. Advisor Group Inc. now owns 4,339 shares of the digital transformation consultancy’s stock worth $149,000 after buying an additional 3,467 shares in the last quarter. 90.85% of the stock is currently owned by hedge funds and other institutional investors.

About Perficient

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.

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Analyst Recommendations for Perficient (NASDAQ:PRFT)

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