Perficient Inc. [NASDAQ: PRFT] surged by $1.64 during the normal trading session on Wednesday and reaching a high of $43.63 during the day while it closed the day at $42.17. The company report on August 11, 2020 that Perficient Announces Pricing of $200 Million Private Offering of 1.250% Convertible Senior Notes.
Usage of Proceeds to Include Repurchase of Majority of Outstanding 2.375% Convertible Senior Notes.
Perficient, Inc. (NASDAQ: PRFT) (“Perficient”), a leading digital consultancy, helping transform some of the world’s biggest brands, announced today the pricing of its private offering of $200 million aggregate principal amount of 1.250% Convertible Senior Notes due 2025 (the “Notes”) to be sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering size was increased from the previously announced offering size of $185 million aggregate principal amount of notes. Perficient has granted the initial purchasers of the Notes an option to purchase up to an additional $30 million aggregate principal amount of Notes. The offering is expected to close on August 14, 2020, subject to customary closing conditions.
Perficient Inc. stock has also gained 4.33% of its value over the past 7 days. However, PRFT stock has inclined by 28.80% in the 3 months of the year. Over the past six months meanwhile, it has lost -19.49% and lost -8.47% year-on date.
The market cap for PRFT stock reached $1.37 billion, with 33.25 million shares outstanding and 32.43 million shares in the current float. Compared to the average trading volume of 362.09K shares, PRFT reached a trading volume of 3340498 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Perficient Inc. [PRFT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRFT shares is $48.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRFT stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
National Securities have made an estimate for Perficient Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 23, 2020. While these analysts kept the previous recommendation, National Securities raised their target price to Buy. The new note on the price target was released on October 22, 2019, representing the official price target for Perficient Inc. stock. On August 02, 2019, analysts increased their price target for PRFT shares from 37 to 44.
The Average True Range (ATR) for Perficient Inc. is set at 1.53, with the Price to Sales ratio for PRFT stock in the period of the last 12 months amounting to 2.36. The Price to Book ratio for the last quarter was 3.28, with the Price to Cash per share for the same quarter was set at 0.60. Price to Free Cash Flow for PRFT in the course of the last twelve months was 16.24 with Quick ratio for the last quarter at 1.60.
PRFT stock trade performance evaluation
Perficient Inc. [PRFT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.33. With this latest performance, PRFT shares gained by 25.96% in over the last four-week period, additionally sinking by -19.49% over the last 6 months – not to mention a rise of 17.24% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRFT stock in for the last two-week period is set at 69.86, with the RSI for the last a single of trading hit 72.23, and the three-weeks RSI is set at 65.89 for Perficient Inc. [PRFT]. The present Moving Average for the last 50 days of trading for this stock 36.48, while it was recorded at 41.21 for the last single week of trading, and 39.03 for the last 200 days.
Perficient Inc. [PRFT]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Perficient Inc. [PRFT] shares currently have an operating margin of +10.00 and a Gross Margin at +33.72. Perficient Inc.’s Net Margin is presently recorded at +6.56.
Return on Total Capital for PRFT is now 11.22, given the latest momentum, and Return on Invested Capital for the company is 7.43. Return on Equity for this stock inclined to 10.11, with Return on Assets sitting at 5.99. When it comes to the capital structure of this company, Perficient Inc. [PRFT] has a Total Debt to Total Equity ratio set at 40.24. Additionally, PRFT Total Debt to Total Capital is recorded at 28.69, with Total Debt to Total Assets ending up at 23.31. Long-Term Debt to Equity for the company is recorded at 37.88, with the Long-Term Debt to Total Capital now at 27.01.
Reflecting on the efficiency of the workforce at the company, Perficient Inc. [PRFT] managed to generate an average of $10,748 per employee. Receivables Turnover for the company is 4.50 with a Total Asset Turnover recorded at a value of 0.91.Perficient Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.
Earnings per share (EPS) analysis for Perficient Inc. [PRFT] stock
With the latest financial reports released by the company, Perficient Inc. posted 0.56/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRFT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Perficient Inc. go to 12.00%.
Perficient Inc. [PRFT]: Insider Ownership positions
There are presently around $2,098 million, or 93.50% of PRFT stock, in the hands of institutional investors. The top three institutional holders of PRFT stocks are: COPPER ROCK CAPITAL PARTNERS, LLC with ownership of 19,929,254, which is approximately 4389.329% of the company’s market cap and around 2.00% of the total institutional ownership; BLACKROCK INC., holding 5,007,273 shares of the stock with an approximate value of $211.16 million in PRFT stocks shares; and VANGUARD GROUP INC, currently with $93.31 million in PRFT stock with ownership of nearly 0.427% of the company’s market capitalization.
Positions in Perficient Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 120 institutional holders increased their position in Perficient Inc. [NASDAQ:PRFT] by around 22,531,641 shares. Additionally, 134 investors decreased positions by around 4,621,328 shares, while 27 investors held positions by with 22,602,410 shares. The mentioned changes placed institutional holdings at 49,755,379 shares, according to the latest SEC report filing. PRFT stock had 34 new institutional investments in for a total of 1,107,266 shares, while 52 institutional investors sold positions of 1,075,347 shares during the same period.