Perficient, Inc. (NASDAQ:PRFT) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Perficient, Inc. (NASDAQ:PRFT) have received a consensus recommendation of “Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $40.33.

A number of analysts recently weighed in on the stock. ValuEngine cut shares of Perficient from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. William Blair assumed coverage on shares of Perficient in a research note on Monday, September 9th. They issued an “outperform” rating on the stock. Zacks Investment Research raised shares of Perficient from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Friday, October 4th. Barrington Research reissued a “buy” rating and issued a $44.00 target price on shares of Perficient in a research note on Thursday, September 12th. Finally, National Securities assumed coverage on shares of Perficient in a research note on Tuesday. They issued a “buy” rating and a $46.00 target price on the stock.

NASDAQ:PRFT opened at $37.97 on Wednesday. The firm’s 50-day moving average is $37.73 and its 200-day moving average is $34.00. Perficient has a 52-week low of $20.92 and a 52-week high of $39.74. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.30 and a current ratio of 2.30. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 2.24 and a beta of 0.81.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Thursday, August 1st. The digital transformation consultancy reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. Perficient had a net margin of 5.52% and a return on equity of 12.31%. The company had revenue of $141.90 million for the quarter, compared to the consensus estimate of $137.05 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue was up 16.5% compared to the same quarter last year. Equities analysts predict that Perficient will post 1.58 EPS for the current year.

In related news, Director David S. Lundeen sold 10,000 shares of the company’s stock in a transaction dated 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 owns 48,857 shares of the company’s stock, valued at $1,763,249.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James R. Kackley sold 7,928 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $35.55, for a total transaction of $281,840.40. Following the completion of the sale, the director now directly owns 33,708 shares in the company, valued at approximately $1,198,319.40. The disclosure for this sale can be found here. In the last three months, insiders sold 43,230 shares of company stock worth $1,564,239. 2.90% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. CWM LLC grew its stake 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 during the last quarter. Aperio Group LLC grew its stake in Perficient by 4.7% during the second quarter. Aperio Group LLC now owns 14,166 shares of the digital transformation consultancy’s stock worth $486,000 after buying an additional 642 shares during the last quarter. C M Bidwell & Associates Ltd. grew its stake in Perficient by 20.1% during the second quarter. C M Bidwell & Associates Ltd. now owns 4,895 shares of the digital transformation consultancy’s stock worth $168,000 after buying an additional 820 shares during the last quarter. Meeder Asset Management Inc. grew its stake 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 during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake 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 during the last quarter. 90.94% 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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