Perficient (PRFT) Stock Rating Upgraded by BidaskClub

Perficient (NASDAQ:PRFT) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, December 20th.

PRFT has been the topic of several other reports. Maxim Group reaffirmed a “buy” rating and set a $22.00 price target (up from $20.00) on shares of Perficient in a research report on Thursday, November 2nd. Zacks Investment Research lowered shares of Perficient from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $21.33.

Perficient (PRFT) traded down $0.28 during trading on Wednesday, hitting $19.62. 64,587 shares of the stock traded hands, compared to its average volume of 109,562. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.92 and a quick ratio of 2.92. The firm has a market capitalization of $684.90, a PE ratio of 22.55 and a beta of 0.84. Perficient has a 12 month low of $16.20 and a 12 month high of $20.22.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, November 2nd. The digital transformation consultancy reported $0.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.34. Perficient had a net margin of 3.36% and a return on equity of 8.05%. The business had revenue of $123.70 million for the quarter, compared to analyst estimates of $127.51 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. equities research analysts forecast that Perficient will post 0.93 EPS for the current fiscal year.

In other Perficient news, COO Kathryn J. Henely sold 31,075 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $19.33, for a total transaction of $600,679.75. Following the sale, the chief operating officer now directly owns 246,657 shares in the company, valued at $4,767,879.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Perficient in the 3rd quarter valued at approximately $118,000. Victory Capital Management Inc. raised its holdings in Perficient by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 8,070 shares of the digital transformation consultancy’s stock valued at $150,000 after buying an additional 1,210 shares during the last quarter. Simplex Trading LLC raised its holdings in Perficient by 4,251.0% in the 3rd quarter. Simplex Trading LLC now owns 8,702 shares of the digital transformation consultancy’s stock valued at $171,000 after buying an additional 8,502 shares during the last quarter. Sei Investments Co. raised its holdings in Perficient by 412.9% in the 3rd quarter. Sei Investments Co. now owns 8,873 shares of the digital transformation consultancy’s stock valued at $175,000 after buying an additional 7,143 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in Perficient by 66.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,851 shares of the digital transformation consultancy’s stock valued at $202,000 after buying an additional 4,330 shares during the last quarter. Institutional investors own 79.65% of the company’s stock.

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About Perficient

Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.

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