Perficient, Inc. (NASDAQ:PRFT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.

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. “

A number of other equities research analysts also recently issued reports on the company. Maxim Group set a $20.00 price objective on Perficient and gave the stock a “buy” rating in a research report on Thursday, May 4th. BidaskClub downgraded Perficient from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $20.33.

Perficient (NASDAQ PRFT) traded down 1.73% during trading on Friday, hitting $17.09. The stock had a trading volume of 130,139 shares. The company has a 50-day moving average of $18.32 and a 200-day moving average of $17.68. Perficient has a 52 week low of $14.15 and a 52 week high of $20.79. The stock has a market capitalization of $600.15 million, a P/E ratio of 41.48 and a beta of 0.86.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.29. Perficient had a return on equity of 7.42% and a net margin of 3.08%. The company had revenue of $117 million for the quarter, compared to the consensus estimate of $119.21 million. During the same quarter last year, the business posted $0.28 earnings per share. The firm’s revenue was down 5.9% compared to the same quarter last year. On average, equities analysts expect that Perficient will post $1.23 earnings per share for the current fiscal year.

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In other Perficient news, Director Ralph C. Derrickson sold 7,900 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $17.64, for a total transaction of $139,356.00. Following the sale, the director now owns 32,747 shares in the company, valued at $577,657.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its stake in Perficient by 10.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,521 shares of the information technology services provider’s stock worth $113,000 after buying an additional 637 shares during the last quarter. Victory Capital Management Inc. increased its stake in Perficient by 31.1% in the first quarter. Victory Capital Management Inc. now owns 6,860 shares of the information technology services provider’s stock worth $119,000 after buying an additional 1,629 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Perficient by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 6,942 shares of the information technology services provider’s stock worth $129,000 after buying an additional 3,032 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Perficient by 525.7% in the first quarter. Acrospire Investment Management LLC now owns 7,771 shares of the information technology services provider’s stock worth $135,000 after buying an additional 6,529 shares during the last quarter. Finally, Mason Street Advisors LLC increased its stake in Perficient by 5.1% in the first quarter. Mason Street Advisors LLC now owns 8,282 shares of the information technology services provider’s stock worth $144,000 after buying an additional 403 shares during the last quarter. Institutional investors and hedge funds own 76.38% of the company’s stock.

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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