Perficient (NASDAQ:PRFT) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Perficient (NASDAQ:PRFT) in a research report released on Wednesday. The firm issued a sell rating on the digital transformation consultancy’s stock.

Several other research firms also recently weighed in on PRFT. Barrington Research reissued a market perform rating on shares of Perficient in a research report on Tuesday, May 7th. Maxim Group reaffirmed a hold rating and set a $76.00 price objective on shares of Perficient in a research report on Tuesday, May 7th. Finally, Alliance Global Partners reaffirmed a neutral rating on shares of Perficient in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, Perficient presently has an average rating of Hold and a consensus price target of $70.43.

Perficient Price Performance

PRFT opened at $75.17 on Wednesday. The company has a 50-day moving average of $75.03 and a 200-day moving average of $67.43. The company has a market capitalization of $2.64 billion, a P/E ratio of 32.12, a PEG ratio of 1.89 and a beta of 1.64. Perficient has a 1-year low of $42.51 and a 1-year high of $75.50. The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.16 and a current ratio of 4.16.

Perficient (NASDAQ:PRFT) last released its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.01). The company had revenue of $222.82 million during the quarter, compared to the consensus estimate of $223.58 million. Perficient had a return on equity of 18.39% and a net margin of 8.48%. Equities analysts expect that Perficient will post 3.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Perficient by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock valued at $244,380,000 after purchasing an additional 50,313 shares during the period. Wellington Management Group LLP boosted its stake in Perficient by 26.2% during the 4th quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after purchasing an additional 404,154 shares during the period. Congress Asset Management Co. MA boosted its stake in Perficient by 5.3% during the 1st quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock valued at $78,871,000 after purchasing an additional 71,004 shares during the period. Dimensional Fund Advisors LP boosted its stake in Perficient by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock valued at $63,097,000 after purchasing an additional 14,606 shares during the period. Finally, Glazer Capital LLC acquired a new stake in shares of Perficient in the 2nd quarter worth approximately $35,686,000. 95.00% of the stock is owned by institutional investors and hedge funds.

Perficient Company Profile

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, and organizational change management; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolios.