Perficient (PRFT) Short Interest Update

Perficient (NASDAQ:PRFT) was the target of a significant decline in short interest in the month of March. As of March 29th, there was short interest totalling 382,810 shares, a decline of 25.7% from the March 15th total of 515,043 shares. Based on an average daily volume of 210,489 shares, the short-interest ratio is currently 1.8 days. Currently, 1.1% of the shares of the company are short sold.

A number of equities analysts have recently commented on the company. BidaskClub lowered Perficient from a “buy” rating to a “hold” rating in a research note on Saturday, March 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of Perficient in a research note on Thursday, March 1st. SunTrust Banks lifted their price objective on Perficient to $26.00 and gave the stock a “buy” rating in a research note on Monday, March 5th. ValuEngine upgraded Perficient from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, TheStreet upgraded Perficient from a “c+” rating to a “b-” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Perficient has a consensus rating of “Buy” and a consensus target price of $24.75.

How to Become a New Pot Stock Millionaire

In other news, CFO Paul E. Martin sold 18,774 shares of Perficient stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $23.21, for a total value of $435,744.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Jeffrey S. Davis sold 43,413 shares of Perficient stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $23.91, for a total value of $1,038,004.83. The disclosure for this sale can be found here. Insiders sold 91,836 shares of company stock worth $2,115,017 over the last quarter. 3.70% of the stock is currently owned by corporate insiders.



Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Perficient by 2.3% during the fourth quarter. BlackRock Inc. now owns 4,457,487 shares of the digital transformation consultancy’s stock valued at $85,003,000 after acquiring an additional 98,730 shares during the period. Royce & Associates LP grew its stake in shares of Perficient by 10.8% in the 3rd quarter. Royce & Associates LP now owns 288,273 shares of the digital transformation consultancy’s stock valued at $5,670,000 after purchasing an additional 28,203 shares during the period. Bank of Montreal Can grew its stake 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. New York State Common Retirement Fund grew its stake in shares of Perficient by 35.6% in the 3rd quarter. New York State Common Retirement Fund now owns 48,688 shares of the digital transformation consultancy’s stock valued at $958,000 after purchasing an additional 12,788 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Perficient by 1,126.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 930,391 shares of the digital transformation consultancy’s stock valued at $18,078,000 after purchasing an additional 854,535 shares during the period. Hedge funds and other institutional investors own 82.42% of the company’s stock.

Shares of PRFT opened at $23.86 on Tuesday. Perficient has a 12-month low of $16.20 and a 12-month high of $24.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market cap of $824.26, a P/E ratio of 25.12 and a beta of 0.66.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Thursday, March 1st. The digital transformation consultancy reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. Perficient had a return on equity of 8.90% and a net margin of 3.83%. The firm had revenue of $133.48 million for the quarter, compared to analyst estimates of $119.70 million. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. analysts anticipate that Perficient will post 1.11 EPS for the current fiscal year.

Perficient declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 1st that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the digital transformation consultancy to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: This article was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://stocknewstimes.com/2018/04/17/perficient-prft-short-interest-update.html.

Perficient Company Profile

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.

Receive News & Ratings for Perficient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perficient and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply