Perficient (NASDAQ:PRFT) had its target price boosted by equities research analysts at SunTrust Banks to $33.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has a “buy” rating on the digital transformation consultancy’s stock. SunTrust Banks’ price objective points to a potential upside of 9.63% from the company’s current price.

A number of other analysts have also recently weighed in on PRFT. ValuEngine cut shares of Perficient from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. Zacks Investment Research cut shares of Perficient from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. BidaskClub upgraded shares of Perficient from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target on shares of Perficient in a research note on Friday, July 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $29.25.

Shares of Perficient stock traded down $0.25 during trading hours on Friday, hitting $30.10. The company had a trading volume of 20,836 shares, compared to its average volume of 291,137. Perficient has a twelve month low of $17.65 and a twelve month high of $31.09. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 31.68 and a beta of 0.87.

Perficient (NASDAQ:PRFT) last issued its earnings results on Thursday, August 2nd. The digital transformation consultancy reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Perficient had a net margin of 4.85% and a return on equity of 10.21%. The business had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $125.19 million. During the same quarter in the prior year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. analysts forecast that Perficient will post 1.17 earnings per share for the current fiscal year.

In related news, CEO Jeffrey S. Davis sold 34,800 shares of the stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $26.35, for a total transaction of $916,980.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 86,888 shares of company stock valued at $2,290,150. 3.70% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC lifted its stake in shares of Perficient by 19.6% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 15,889 shares of the digital transformation consultancy’s stock worth $419,000 after acquiring an additional 2,600 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Perficient by 6.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 46,930 shares of the digital transformation consultancy’s stock valued at $1,075,000 after purchasing an additional 2,657 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Perficient by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 19,466 shares of the digital transformation consultancy’s stock valued at $513,000 after purchasing an additional 2,670 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Perficient by 10.7% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 29,065 shares of the digital transformation consultancy’s stock valued at $766,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Perficient by 27.7% in the 1st quarter. Sei Investments Co. now owns 13,466 shares of the digital transformation consultancy’s stock valued at $309,000 after purchasing an additional 2,924 shares in the last quarter. Institutional investors own 81.67% 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, 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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