Perficient Inc. (PRFT) Raised to “Hold” at Zacks Investment Research
Perficient Inc. (NASDAQ:PRFT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “PERFICIENT INC helps clients acquire and strengthen customer relationships, reduce costs and empower employees by creating an Enabled Enterprise. Through their Enabled Enterprise solutions, Global 3000 companies can drive dramatic return-on-investment by unlocking the power of their existing enterprise resource planning and legacy systems. “
Separately, Sidoti started coverage on shares of Perficient in a report on Friday, June 24th. They set a “buy” rating and a $27.00 price target on the stock.
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Shares of Perficient (NASDAQ:PRFT) traded down 1.71% during trading on Thursday, reaching $19.53. 123,315 shares of the company were exchanged. The firm has a market cap of $705.09 million, a price-to-earnings ratio of 26.11 and a beta of 1.24. Perficient has a 52-week low of $15.46 and a 52-week high of $22.66. The stock’s 50-day moving average is $19.97 and its 200-day moving average is $20.63.
Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $124.40 million for the quarter, compared to analyst estimates of $124.88 million. Perficient had a return on equity of 9.65% and a net margin of 5.20%. Perficient’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. Equities research analysts predict that Perficient will post $1.29 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in PRFT. FMR LLC increased its position in shares of Perficient by 21.6% in the second quarter. FMR LLC now owns 4,364,120 shares of the company’s stock worth $88,635,000 after buying an additional 775,820 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Perficient by 3.1% in the second quarter. BlackRock Fund Advisors now owns 2,369,104 shares of the company’s stock worth $48,117,000 after buying an additional 71,930 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Perficient by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,721,923 shares of the company’s stock worth $34,972,000 after buying an additional 35,225 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Perficient by 5.1% in the second quarter. Vanguard Group Inc. now owns 1,620,200 shares of the company’s stock worth $32,907,000 after buying an additional 78,188 shares in the last quarter. Finally, Skyline Asset Management LP increased its position in shares of Perficient by 2.4% in the first quarter. Skyline Asset Management LP now owns 1,153,300 shares of the company’s stock worth $25,050,000 after buying an additional 26,700 shares in the last quarter. 78.61% of the stock is owned by institutional investors and hedge funds.
Perficient, Inc is an information technology and management consulting firm. The Company designs, builds and delivers business-driven technology solutions using third-party software products. Its solutions include big data and analytics, technology platform implementations, commerce, enterprise content management, portals and collaboration, management consulting, custom applications, business integration, content management (CM), business process management (BPM), and customer relationship management (CRM), among others.
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