Perficient (NASDAQ:PRFT) Raised to “Buy” at Zacks Investment Research

Perficient (NASDAQ:PRFT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, January 4th. The brokerage currently has a $21.00 target price on the digital transformation consultancy’s stock. Zacks Investment Research‘s price objective points to a potential upside of 7.03% from the company’s previous close.

According to Zacks, “Perficient is the leading digital transformation consulting firm with unparalleled information technology, management consulting, and creative capabilities, Perficient and its Perficient Digital agency deliver vision, execution, and value with outstanding digital experience, business optimization, and industry solutions. Their work enables clients to improve productivity and competitiveness; grow and strengthen relationships with customers, suppliers, and partners; and reduce costs. Its solutions include big data and analytics, technology platform implementations, commerce, enterprise content management, portals and collaboration, management consulting, custom applications, business integration, business process management, and customer relationship management, among others. “

Several other equities research analysts have also recently issued reports on the company. BidaskClub raised Perficient from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. Maxim Group restated a “buy” rating and set a $22.00 price target (up from $20.00) on shares of Perficient in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $21.33.

Perficient (PRFT) traded down $0.28 during trading hours on Thursday, hitting $19.62. The company had a trading volume of 64,500 shares, compared to its average volume of 105,856. Perficient has a 12-month low of $16.20 and a 12-month high of $20.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.92 and a current ratio of 2.92. The firm has a market capitalization of $684.90, a PE ratio of 41.74 and a beta of 0.84.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings results on Thursday, November 2nd. The digital transformation consultancy reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. The firm had revenue of $123.70 million during the quarter, compared to analysts’ expectations of $127.51 million. Perficient had a return on equity of 8.05% and a net margin of 3.36%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. sell-side analysts forecast that Perficient will post 0.93 EPS for the current year.

In related news, COO Kathryn J. Henely sold 31,075 shares of Perficient stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $19.33, for a total value of $600,679.75. Following the completion of the transaction, the chief operating officer now directly owns 246,657 shares in the company, valued at $4,767,879.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PRFT. SG Americas Securities LLC purchased a new stake in Perficient during the 3rd quarter worth about $118,000. Victory Capital Management Inc. lifted its holdings in Perficient by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 8,070 shares of the digital transformation consultancy’s stock worth $150,000 after buying an additional 1,210 shares during the last quarter. Simplex Trading LLC lifted its holdings in Perficient by 4,251.0% during 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. Sei Investments Co. lifted its holdings in Perficient by 412.9% during the 3rd quarter. Sei Investments Co. now owns 8,873 shares of the digital transformation consultancy’s stock worth $175,000 after buying an additional 7,143 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Perficient by 152.7% during the 3rd quarter. KBC Group NV now owns 10,275 shares of the digital transformation consultancy’s stock worth $202,000 after buying an additional 6,209 shares during the last quarter. Hedge funds and other institutional investors own 79.65% of the company’s stock.

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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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