Perficient (NASDAQ:PRFT) Research Coverage Started 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 analysts have also issued reports on PRFT. Maxim Group restated a hold rating and set a $76.00 target price on shares of Perficient in a research report on Tuesday, May 7th. William Blair reissued a market perform rating on shares of Perficient in a research report on Monday, May 6th. Guggenheim started coverage on Perficient in a report on Tuesday, March 19th. They issued a neutral rating and a $65.00 target price on the stock. Alliance Global Partners reissued a neutral rating on shares of Perficient in a report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $70.43.

Perficient Price Performance

Shares of PRFT opened at $74.95 on Wednesday. The firm has a fifty day simple moving average of $74.19 and a two-hundred day simple moving average of $65.56. The firm has a market cap of $2.64 billion, a PE ratio of 32.03, a P/E/G ratio of 1.97 and a beta of 1.62. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.72. Perficient has a 1-year low of $42.51 and a 1-year high of $96.93.

Perficient (NASDAQ:PRFT) last posted its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $215.30 million for the quarter, compared to the consensus estimate of $224.99 million. Perficient had a return on equity of 19.50% and a net margin of 9.40%. Perficient’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, equities analysts anticipate that Perficient will post 3.16 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in shares of Perficient during the fourth quarter valued at approximately $28,000. Fidelis Capital Partners LLC bought a new stake in Perficient in the 1st quarter valued at $25,000. Parallel Advisors LLC lifted its stake in Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after purchasing an additional 224 shares in the last quarter. CWM LLC boosted its holdings in shares of Perficient by 67.7% during the 2nd quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock valued at $43,000 after purchasing an additional 233 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Perficient during the fourth quarter valued at about $41,000. 95.00% of the stock is owned by hedge funds and other institutional investors.

About Perficient

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.