Perficient (NASDAQ:PRFT) Reaches New 12-Month Low After Analyst Downgrade


Perfect, Inc. (NASDAQ:PRFT – Get Rating)’s share price hit a new 52-week low during mid-day trading on Tuesday after Alliance Global Partners lowered their price target on the stock to $107.00. The stock traded as low as $85.38 and last traded at $85.68, with a volume of 2404 shares. The stock had previously closed at $89.23.

Several other brokerages have also recently issued reports on PRFT. Maxim Group reaffirmed a “buy” rating and issued a $140.00 target price on shares of Perficient in a report on Friday, August 5th. TheStreet raised shares of Perficient from a “c+” rating to a “b-” rating in a report on Thursday, April 28th. William Blair reaffirmed an “outperform” rating on shares of Perficient in a report on Thursday, June 9th. Morgan Stanley decreased their target price on shares of Perficient from $120.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Needham & Company LLC decreased their price objective on shares of Perficient from $145.00 to $120.00 and set a “buy” rating for the company in a report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $117.71.

Insider Buying and Selling

In related news, Director Ralph C. Derrickson sold 5,000 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $96.15, for a total transaction of $480,750.00. Following the sale, the director now owns 37,281 shares of the company’s stock, valued at $3,584,568.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sufficient

A number of hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System raised its stake in shares of Perficient by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the digital transformation consultancy’s stock valued at $1,779,000 after acquiring an additional 100 shares during the period. Cooper Financial Group raised its stake in shares of Perficient by 2.4% in the first quarter. Cooper Financial Group now owns 4,442 shares of the digital transformation consultancy’s stock valued at $489,000 after acquiring an additional 105 shares during the period. Hanseatic Management Services Inc. raised its stake in shares of Perficient by 2.1% in the fourth quarter. Hanseatic Management Services Inc. now owns 5,820 shares of the digital transformation consultancy’s stock valued at $752,000 after acquiring an additional 121 shares during the period. Intrust Bank NA raised its stake in shares of Perficient by 4.7% in the fourth quarter. Intrust Bank NA now owns 2,843 shares of the digital transformation consultancy’s stock valued at $368,000 after acquiring an additional 127 shares during the period. Finally, Boston Partners raised its stake in shares of Perficient by 3.0% in the first quarter. Boston Partners now owns 4,991 shares of the digital transformation consultancy’s stock valued at $549,000 after acquiring an additional 146 shares during the period. Hedge funds and other institutional investors own 89.37% of the company’s stock.

Perfect Trading Down 7.1%

The firm has a market cap of $2.87 billion, a PE ratio of 38.93, a P/E/G ratio of 1.31 and a beta of 1.47. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 1.07. The company’s 50 day moving average price is $95.01 and its two-hundred day moving average price is $100.21.

Perficient (NASDAQ:PRFT – Get Rating) last announced its earnings results on Thursday, August 4th. The digital transformation consultancy reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.14. The business had revenue of $222.74 million for the quarter, compared to the consensus estimate of $228.07 million. Perficient had a net margin of 9.01% and a return on equity of 30.67%. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. As a group, sell-side analysts forecast that Perficient, Inc. will post 3.76 EPS for the current year.

Perfect Company Profile

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Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

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