Perficient (NASDAQ:PRFT – Free Report) had its price objective cut by Needham & Company LLC from $85.00 to $73.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the digital transformation consultancy’s stock.
A number of other equities research analysts also recently commented on PRFT. JPMorgan Chase & Co. downgraded Perficient from an overweight rating to a neutral rating and decreased their target price for the stock from $84.00 to $70.00 in a research report on Friday, July 28th. Barrington Research decreased their target price on Perficient from $85.00 to $77.00 and set an outperform rating on the stock in a research report on Friday, July 28th. StockNews.com started coverage on Perficient in a research report on Thursday, October 5th. They issued a hold rating on the stock. Alliance Global Partners decreased their target price on Perficient from $77.00 to $69.00 in a research report on Thursday, July 27th. Finally, Scotiabank downgraded Perficient from a sector outperform rating to a sector perform rating and decreased their target price for the stock from $80.00 to $70.00 in a research report on Friday, July 28th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $74.57.
View Our Latest Research Report on Perficient
Perficient Price Performance
Perficient (NASDAQ:PRFT – Get Free Report) last announced its quarterly earnings data on Tuesday, October 31st. The digital transformation consultancy reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. Perficient had a return on equity of 29.42% and a net margin of 11.12%. The business had revenue of $223.20 million for the quarter, compared to the consensus estimate of $221.99 million. During the same period in the previous year, the business earned $0.96 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. As a group, analysts expect that Perficient will post 3.38 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Perficient
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Congress Wealth Management LLC DE grew its stake in shares of Perficient by 109.2% during the third quarter. Congress Wealth Management LLC DE now owns 140,294 shares of the digital transformation consultancy’s stock valued at $8,117,000 after buying an additional 73,239 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Perficient by 6,104.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 162,010 shares of the digital transformation consultancy’s stock worth $9,374,000 after purchasing an additional 159,399 shares in the last quarter. TD Asset Management Inc grew its stake in Perficient by 36.8% in the third quarter. TD Asset Management Inc now owns 9,300 shares of the digital transformation consultancy’s stock worth $538,000 after purchasing an additional 2,500 shares in the last quarter. Inspire Investing LLC grew its stake in Perficient by 41.4% in the third quarter. Inspire Investing LLC now owns 5,315 shares of the digital transformation consultancy’s stock worth $308,000 after purchasing an additional 1,556 shares in the last quarter. Finally, Inspire Advisors LLC bought a new position in Perficient in the third quarter worth approximately $740,000. 93.39% of the stock is currently owned by hedge funds and other institutional investors.
About Perficient
Perficient, Inc provides digital consultancy services and solutions in the United States. It offers strategy and transformation solution 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 portfolio.
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