Perficient (NASDAQ:PRFT) Downgraded by StockNews.com

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

PRFT has been the topic of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a research note on Monday. JPMorgan Chase & Co. lowered their target price on Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Maxim Group restated a “hold” rating and issued a $76.00 price target on shares of Perficient in a research note on Tuesday. Guggenheim began coverage on Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price objective on the stock. Finally, William Blair restated a “market perform” rating on shares of Perficient in a research note on Monday. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, Perficient currently has an average rating of “Hold” and a consensus target price of $70.43.

Perficient Stock Performance

NASDAQ:PRFT traded up $0.02 on Tuesday, hitting $73.28. The company’s stock had a trading volume of 2,609,054 shares, compared to its average volume of 433,600. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. Perficient has a one year low of $42.51 and a one year high of $96.93. The stock has a fifty day moving average of $54.98 and a two-hundred day moving average of $61.52. The firm has a market capitalization of $2.57 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46.

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

Insiders Place Their Bets

In other news, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total value of $47,223.36. Following the completion of the transaction, the senior vice president now directly owns 26,533 shares in the company, valued at approximately $1,831,838.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Perficient news, 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 value of $47,223.36. Following the sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $591,955.26. Following the transaction, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. Insiders have sold 13,149 shares of company stock worth $885,619 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Perficient

Institutional investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new stake in shares of Perficient during the first quarter worth $25,000. GAMMA Investing LLC bought a new stake in Perficient during the 4th quarter worth $28,000. Parallel Advisors LLC increased its holdings in Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after purchasing an additional 224 shares in the last quarter. NBC Securities Inc. bought a new position in Perficient in the third quarter valued at about $38,000. Finally, Principal Securities Inc. acquired a new stake in shares of Perficient during the fourth quarter valued at about $41,000. 95.00% of the stock is currently owned by institutional investors and hedge funds.

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.