Perficient, Inc. (NASDAQ:PRFT) has been given an average recommendation of “Buy” by the eight brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $32.00.
A number of analysts have recently weighed in on the stock. ValuEngine downgraded shares of Perficient from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Barrington Research assumed coverage on shares of Perficient in a research report on Wednesday. They set an “outperform” rating and a $31.00 price target for the company. Zacks Investment Research downgraded shares of Perficient from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. BidaskClub raised shares of Perficient from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Perficient in a research note on Friday, July 13th.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. KAMES CAPITAL plc bought a new position in Perficient during the third quarter worth $6,839,000. United Services Automobile Association lifted its stake in Perficient by 1.7% during the second quarter. United Services Automobile Association now owns 185,751 shares of the digital transformation consultancy’s stock worth $4,898,000 after purchasing an additional 3,041 shares during the last quarter. Northern Trust Corp lifted its stake in Perficient by 6.1% during the second quarter. Northern Trust Corp now owns 871,385 shares of the digital transformation consultancy’s stock worth $22,978,000 after purchasing an additional 49,932 shares during the last quarter. Schroder Investment Management Group bought a new position in Perficient during the second quarter worth $5,714,000. Finally, Advisors Asset Management Inc. lifted its stake in Perficient by 2,633.4% during the second quarter. Advisors Asset Management Inc. now owns 221,488 shares of the digital transformation consultancy’s stock worth $114,000 after purchasing an additional 213,385 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.
PRFT stock opened at $25.14 on Friday. Perficient has a twelve month low of $17.65 and a twelve month high of $31.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market cap of $927.68 million, a PE ratio of 26.46 and a beta of 0.83.
Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Thursday, August 2nd. The digital transformation consultancy reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Perficient had a net margin of 4.85% and a return on equity of 10.21%. The business had revenue of $121.80 million during the quarter, compared to the consensus estimate of $125.19 million. During the same quarter last year, the company earned $0.29 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts anticipate that Perficient will post 1.17 EPS for the current year.
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.
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