Perficient (NASDAQ:PRFT) Receives New Coverage from Analysts at Nomura

Nomura started coverage on shares of Perficient (NASDAQ:PRFT) in a report published on Friday morning, Benzinga reports. The firm issued a buy rating and a $40.00 target price on the digital transformation consultancy’s stock.

A number of other equities analysts also recently weighed in on PRFT. BidaskClub downgraded shares of Perficient from a buy rating to a hold rating in a research note on Monday, February 25th. Barrington Research reaffirmed a buy rating and issued a $33.00 target price on shares of Perficient in a research note on Wednesday, February 27th. Maxim Group set a $41.00 target price on shares of Perficient and gave the stock a buy rating in a research note on Friday, May 31st. Finally, Zacks Investment Research raised shares of Perficient from a hold rating to a buy rating and set a $33.00 target price for the company in a research note on Tuesday, March 5th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $34.57.

NASDAQ:PRFT opened at $34.55 on Friday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 2.22 and a beta of 0.87. Perficient has a 12 month low of $20.92 and a 12 month high of $35.99. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.39.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Thursday, May 2nd. The digital transformation consultancy reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.12. The firm had revenue of $133.82 million for the quarter, compared to analyst estimates of $131.10 million. Perficient had a net margin of 5.21% and a return on equity of 11.50%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. Research analysts predict that Perficient will post 1.45 earnings per share for the current fiscal year.

In related news, CFO Paul E. Martin sold 25,000 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 172,674 shares of the company’s stock, valued at $5,332,173.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Jeffrey S. Davis sold 78,296 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $30.43, for a total transaction of $2,382,547.28. Following the sale, the chairman now directly owns 532,389 shares of the company’s stock, valued at $16,200,597.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,196 shares of company stock valued at $3,181,205. 2.90% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of PRFT. Public Employees Retirement System of Ohio raised its stake in shares of Perficient by 51.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,238 shares of the digital transformation consultancy’s stock worth $28,000 after buying an additional 421 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Perficient during the first quarter valued at approximately $40,000. Investors Research Corp acquired a new position in Perficient during the first quarter valued at approximately $101,000. BNP Paribas Arbitrage SA grew its holdings in Perficient by 364.5% during the first quarter. BNP Paribas Arbitrage SA now owns 6,731 shares of the digital transformation consultancy’s stock valued at $184,000 after purchasing an additional 5,282 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new position in Perficient during the fourth quarter valued at approximately $221,000. 88.32% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Perficient (NASDAQ:PRFT)

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