Maxim Group Reiterates Buy Rating for Perficient (NASDAQ:PRFT)

Maxim Group reissued their buy rating on shares of Perficient (NASDAQ:PRFT) in a research note issued to investors on Friday, AnalystRatings.com reports. Maxim Group currently has a $50.00 target price on the digital transformation consultancy’s stock.

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PRFT has been the subject of a number of other research reports. William Blair started coverage on Perficient in a report on Monday, September 9th. They issued an outperform rating for the company. Zacks Investment Research upgraded Perficient from a hold rating to a buy rating and set a $41.00 target price for the company in a report on Friday, October 4th. National Securities began coverage on Perficient in a report on Tuesday, October 22nd. They set a buy rating and a $46.00 price objective for the company. Barrington Research reiterated a buy rating and set a $44.00 price objective on shares of Perficient in a report on Thursday, September 12th. Finally, ValuEngine lowered Perficient from a buy rating to a hold rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Perficient has an average rating of Buy and a consensus target price of $41.83.

NASDAQ PRFT traded up $0.56 on Friday, reaching $38.94. 551,900 shares of the stock traded hands, compared to its average volume of 282,685. The firm’s fifty day simple moving average is $38.11 and its 200 day simple moving average is $34.92. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 2.26 and a beta of 0.79. Perficient has a 12 month low of $20.92 and a 12 month high of $41.82. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.40.

Perficient (NASDAQ:PRFT) last released its earnings results on Thursday, November 7th. The digital transformation consultancy reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.04. The company had revenue of $144.68 million during the quarter, compared to analyst estimates of $143.17 million. Perficient had a return on equity of 12.31% and a net margin of 5.52%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. As a group, equities research analysts forecast that Perficient will post 1.58 EPS for the current fiscal year.

In related news, Director David S. Lundeen sold 10,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $36.09, for a total transaction of $360,900.00. Following the completion of the sale, the director now directly owns 48,857 shares in the company, valued at $1,763,249.13. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.90% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. WINTON GROUP Ltd bought a new position in Perficient during the second quarter valued at about $1,809,000. KAMES CAPITAL plc raised its holdings in Perficient by 72.9% during the second quarter. KAMES CAPITAL plc now owns 487,844 shares of the digital transformation consultancy’s stock valued at $16,728,000 after buying an additional 205,642 shares in the last quarter. Falcon Point Capital LLC raised its holdings in Perficient by 2.8% during the second quarter. Falcon Point Capital LLC now owns 127,814 shares of the digital transformation consultancy’s stock valued at $4,386,000 after buying an additional 3,460 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Perficient during the second quarter valued at about $7,732,000. Finally, SG Capital Management LLC bought a new position in Perficient during the second quarter valued at about $5,458,000. Institutional investors and hedge funds own 90.85% of the company’s stock.

About Perficient

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, commerce, content management, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

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Analyst Recommendations for Perficient (NASDAQ:PRFT)

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