Perficient (NASDAQ:PRFT) Price Target Raised to $44.00

Perficient (NASDAQ:PRFT) had its price objective hoisted by Barrington Research from $37.00 to $44.00 in a research note released on Friday morning, Briefing.com Automated Import reports. Barrington Research currently has an outperform rating on the digital transformation consultancy’s stock.

Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Perficient from a buy rating to a strong-buy rating in a report on Thursday, June 20th. Zacks Investment Research raised shares of Perficient from a hold rating to a strong-buy rating and set a $35.00 price objective for the company in a report on Saturday, May 11th. Maxim Group reissued a buy rating and set a $41.00 price objective on shares of Perficient in a report on Wednesday, July 24th. Finally, Nomura began coverage on shares of Perficient in a report on Friday, June 21st. They set a buy rating and a $40.00 price objective for the company. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $37.17.

PRFT opened at $35.50 on Friday. The company’s fifty day moving average price is $34.78. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.87. Perficient has a twelve month low of $20.92 and a twelve month high of $38.80. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.30 and a current ratio of 2.30.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Thursday, August 1st. The digital transformation consultancy reported $0.38 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.38. The business had revenue of $141.90 million during the quarter, compared to analyst estimates of $137.05 million. Perficient had a net margin of 5.52% and a return on equity of 12.31%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. Analysts forecast that Perficient will post 1.45 earnings per share for the current year.

In other Perficient news, Chairman Jeffrey S. Davis sold 25,302 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $36.42, for a total transaction of $921,498.84. Following the completion of the transaction, the chairman now directly owns 429,691 shares of the company’s stock, valued at approximately $15,649,346.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in shares of Perficient by 51.5% in the 4th 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 bought a new position in shares of Perficient in the 1st quarter worth about $40,000. Meeder Asset Management Inc. lifted its position in shares of Perficient by 84.9% in the 2nd 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. Investors Research Corp bought a new position in shares of Perficient in the 1st quarter worth about $101,000. Finally, Advisor Group Inc. lifted its position in shares of Perficient by 397.6% in the 2nd 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 during the last quarter. Institutional investors own 90.61% of the company’s stock.

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.

Further Reading: Percentage Decliners

Analyst Recommendations for Perficient (NASDAQ:PRFT)

Receive News & Ratings for Perficient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perficient and related companies with MarketBeat.com's FREE daily email newsletter.