Perficient (NASDAQ:PRFT) Downgraded to Sell at StockNews.com

Perficient (NASDAQ:PRFT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Other analysts have also recently issued reports about the stock. Maxim Group reiterated a “hold” rating and issued a $76.00 target price on shares of Perficient in a research note on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Perficient in a research note on Monday. William Blair reissued a “market perform” rating on shares of Perficient in a research report on Monday. Guggenheim started coverage on Perficient in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price target for the company. Finally, Alliance Global Partners reissued a “neutral” rating on shares of Perficient in a report on Tuesday. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, Perficient currently has an average rating of “Hold” and a consensus price target of $70.43.

Perficient Stock Up 0.0 %

Shares of Perficient stock traded up $0.02 on Tuesday, hitting $73.28. 2,609,054 shares of the company traded hands, compared to its average volume of 433,600. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. Perficient has a 12-month low of $42.51 and a 12-month high of $96.93. The company has a 50-day moving average price of $54.98 and a 200 day moving average price of $61.52. The company has a market cap of $2.57 billion, a PE ratio of 26.55, a PEG ratio of 1.17 and a beta of 1.46.

Perficient (NASDAQ:PRFT) last issued its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. The company had revenue of $215.30 million for the quarter, compared to analyst estimates of $224.99 million. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. Sell-side analysts predict that Perficient will post 3.42 earnings per share for the current year.

Insider Activity

In related news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the transaction, the senior vice president now owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Perficient news, CFO Paul E. Martin sold 3,664 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $246,440.64. Following the completion of the sale, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the sale, the senior vice president now owns 26,533 shares in the company, valued at $1,831,838.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,149 shares of company stock valued at $885,619. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Perficient

Several hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System boosted its stake in Perficient by 1.8% during the third quarter. Arizona State Retirement System now owns 9,919 shares of the digital transformation consultancy’s stock worth $574,000 after buying an additional 175 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Perficient by 3.8% during the fourth quarter. Handelsbanken Fonder AB now owns 5,412 shares of the digital transformation consultancy’s stock valued at $356,000 after purchasing an additional 200 shares in the last quarter. Huntington National Bank boosted its holdings in Perficient by 10.5% during the third quarter. Huntington National Bank now owns 2,245 shares of the digital transformation consultancy’s stock valued at $130,000 after purchasing an additional 213 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after purchasing an additional 224 shares during the period. Finally, Comerica Bank raised its holdings in shares of Perficient by 1.3% in the 4th quarter. Comerica Bank now owns 18,682 shares of the digital transformation consultancy’s stock worth $1,230,000 after buying an additional 235 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.

Perficient Company Profile

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, and organizational change management; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolios.