Maxim Group Reaffirms “Buy” Rating for Perficient, Inc. (PRFT)

Maxim Group reiterated their buy rating on shares of Perficient, Inc. (NASDAQ:PRFT) in a research report report published on Thursday morning, Marketbeat reports. Maxim Group currently has a $22.00 target price on the digital transformation consultancy’s stock, up from their prior target price of $20.00.

“3Q17 services revenue was $114 million, which was flat on an organic basis and in line with our estimate.”,” the firm’s analyst commented.

A number of other equities research analysts have also recently commented on PRFT. Zacks Investment Research cut Perficient from a buy rating to a hold rating in a research report on Saturday, September 23rd. BidaskClub upgraded Perficient from a hold rating to a buy rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $21.33.

Perficient (NASDAQ:PRFT) traded down $0.39 during trading hours on Thursday, hitting $19.00. The stock had a trading volume of 88,595 shares, compared to its average volume of 87,825. The company has a current ratio of 2.92, a quick ratio of 2.57 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $663.25, a price-to-earnings ratio of 21.84 and a beta of 0.85.

Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, November 2nd. The digital transformation consultancy reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. Perficient had a return on equity of 8.05% and a net margin of 3.36%. The firm had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $127.51 million. During the same period last year, the firm earned $0.26 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. equities research analysts anticipate that Perficient will post 0.95 earnings per share for the current year.

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In related news, Chairman Jeffrey S. Davis sold 39,023 shares of Perficient stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $20.04, for a total value of $782,020.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ralph C. Derrickson sold 7,900 shares of Perficient stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $17.64, for a total value of $139,356.00. Following the completion of the sale, the director now owns 32,747 shares in the company, valued at $577,657.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,847 shares of company stock worth $1,739,758. 3.70% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of PRFT. Victory Capital Management Inc. boosted its holdings in Perficient by 31.1% in the 1st quarter. Victory Capital Management Inc. now owns 6,860 shares of the digital transformation consultancy’s stock worth $119,000 after buying an additional 1,629 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Perficient by 77.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,942 shares of the digital transformation consultancy’s stock worth $129,000 after buying an additional 3,032 shares during the last quarter. Simplex Trading LLC boosted 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 worth $171,000 after buying an additional 8,502 shares during the last quarter. BNP Paribas Arbitrage SA boosted 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 worth $202,000 after buying an additional 4,330 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in Perficient in the 2nd quarter worth about $206,000. Institutional investors own 74.61% of the company’s stock.

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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