Perficient (NASDAQ:PRFT) Receives New Coverage from Analysts at StockNews.com

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

Several other equities research analysts have also issued reports on PRFT. Alliance Global Partners reissued a neutral rating on shares of Perficient in a research note on Tuesday, May 7th. JPMorgan Chase & Co. lowered their target price on shares of Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. William Blair reissued a market perform rating on shares of Perficient in a research note on Monday, May 6th. Maxim Group reissued a hold rating and set a $76.00 target price on shares of Perficient in a research note on Tuesday, May 7th. Finally, Scotiabank upped their price target on shares of Perficient from $50.00 to $76.00 and gave the stock a sector perform rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $70.43.

Perficient Stock Performance

Shares of PRFT traded down $0.06 during trading hours on Friday, reaching $75.25. 589,237 shares of the company traded hands, compared to its average volume of 425,869. Perficient has a 12-month low of $42.51 and a 12-month high of $75.50. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $2.65 billion, a P/E ratio of 32.16, a P/E/G ratio of 1.90 and a beta of 1.62. The business has a fifty day moving average price of $74.65 and a 200-day moving average price of $66.64.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. Perficient had a net margin of 9.40% and a return on equity of 19.50%. The company had revenue of $215.30 million for the quarter, compared to analyst estimates of $224.99 million. During the same period in the prior year, the company earned $0.89 earnings per share. The firm’s revenue was down 7.0% on a year-over-year basis. Equities analysts anticipate that Perficient will post 3.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Perficient by 1.2% during the first quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock worth $244,380,000 after buying an additional 50,313 shares during the period. Wellington Management Group LLP grew its position in Perficient by 26.2% during the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock worth $128,064,000 after buying an additional 404,154 shares during the period. Congress Asset Management Co. MA grew its position in Perficient by 5.3% during the first quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock worth $78,871,000 after buying an additional 71,004 shares during the period. Dimensional Fund Advisors LP grew its position in Perficient by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock worth $63,097,000 after buying an additional 14,606 shares during the period. Finally, Geneva Capital Management LLC grew its position in Perficient by 0.3% during the fourth quarter. Geneva Capital Management LLC now owns 952,399 shares of the digital transformation consultancy’s stock worth $62,687,000 after buying an additional 2,825 shares during the period. 95.00% of the stock is currently 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.