Perficient’s (PRFT) Buy Rating Reaffirmed at Maxim Group

Maxim Group reissued their buy rating on shares of Perficient (NASDAQ:PRFT) in a report published on Friday. Maxim Group currently has a $24.00 price target on the digital transformation consultancy’s stock.

Several other brokerages also recently weighed in on PRFT. BidaskClub raised shares of Perficient from a hold rating to a buy rating in a research report on Wednesday, December 20th. Zacks Investment Research raised shares of Perficient from a hold rating to a buy rating and set a $21.00 price target for the company in a research report on Thursday, January 4th. Finally, TheStreet raised shares of Perficient from a c+ rating to a b- rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $22.00.

Shares of Perficient (PRFT) traded up $0.26 on Friday, hitting $19.42. 1,450,000 shares of the company traded hands, compared to its average volume of 167,360. The company has a market capitalization of $677.91, a P/E ratio of 42.22 and a beta of 0.83. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.18. Perficient has a 12 month low of $16.20 and a 12 month high of $20.29.

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

Hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System boosted its holdings in Perficient by 2.2% in the second quarter. California Public Employees Retirement System now owns 146,400 shares of the digital transformation consultancy’s stock worth $2,729,000 after purchasing an additional 3,200 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Perficient by 76.8% in the second quarter. Goldman Sachs Group Inc. now owns 178,301 shares of the digital transformation consultancy’s stock worth $3,324,000 after purchasing an additional 77,429 shares during the last quarter. Royce & Associates LP boosted its holdings in Perficient by 10.8% in the third quarter. Royce & Associates LP now owns 288,273 shares of the digital transformation consultancy’s stock worth $5,670,000 after purchasing an additional 28,203 shares during the last quarter. LaSalle Street Capital Management LLC boosted its holdings in Perficient by 66.7% in the third quarter. LaSalle Street Capital Management LLC now owns 20,629 shares of the digital transformation consultancy’s stock worth $406,000 after purchasing an additional 8,253 shares during the last quarter. Finally, State Street Corp boosted its holdings in Perficient by 4.2% in the second quarter. State Street Corp now owns 950,640 shares of the digital transformation consultancy’s stock worth $17,721,000 after purchasing an additional 38,626 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

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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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