Perficient (NASDAQ:PRFT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, January 4th. The brokerage presently has a $21.00 price target on the digital transformation consultancy’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 5.26% from the stock’s current price.

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. “

A number of other equities research analysts also recently weighed in on PRFT. Maxim Group reiterated a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Perficient in a research note on Thursday, November 2nd. BidaskClub upgraded shares of Perficient from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Perficient presently has a consensus rating of “Buy” and a consensus price target of $21.33.

Perficient (PRFT) opened at $19.95 on Thursday. Perficient has a 52-week low of $16.20 and a 52-week high of $20.29. The company has a market cap of $702.35, a P/E ratio of 42.45 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.92 and a quick ratio of 2.92.

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

In other Perficient news, COO Kathryn J. Henely sold 31,075 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $19.33, for a total transaction of $600,679.75. Following the completion of the sale, the chief operating officer now directly owns 246,657 shares of the company’s stock, valued at approximately $4,767,879.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Perficient in the 3rd quarter valued at approximately $118,000. Bank of Montreal Can grew its position in shares of Perficient by 3,261.0% in the 4th quarter. Bank of Montreal Can now owns 7,159 shares of the digital transformation consultancy’s stock valued at $136,000 after purchasing an additional 6,946 shares during the period. Victory Capital Management Inc. grew its position in shares of Perficient by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 8,070 shares of the digital transformation consultancy’s stock valued at $150,000 after purchasing an additional 1,210 shares during the period. Simplex Trading LLC grew its position in shares of Perficient by 4,251.0% in the 3rd quarter. Simplex Trading LLC now owns 8,702 shares of the digital transformation consultancy’s stock valued at $171,000 after purchasing an additional 8,502 shares during the period. Finally, Sei Investments Co. grew its position in shares of Perficient by 412.9% in the 3rd quarter. Sei Investments Co. now owns 8,873 shares of the digital transformation consultancy’s stock valued at $175,000 after purchasing an additional 7,143 shares during the period. 79.64% of the stock is owned by institutional investors.

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Perficient Company Profile

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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