Perficient (NASDAQ:PRFT) Earns Sell Rating from Analysts at StockNews.com

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

Perficient Price Performance

Perficient stock opened at $75.96 on Friday. Perficient has a 52 week low of $42.51 and a 52 week high of $76.01. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.70. The firm’s 50-day simple moving average is $75.27 and its 200 day simple moving average is $68.87. The firm has a market capitalization of $2.67 billion, a PE ratio of 32.46, a P/E/G ratio of 1.96 and a beta of 1.64.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Thursday, August 8th. The digital transformation consultancy reported $0.79 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.01). Perficient had a return on equity of 18.39% and a net margin of 8.48%. The business had revenue of $222.82 million during the quarter, compared to analysts’ expectations of $223.58 million. On average, equities research analysts predict that Perficient will post 3.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Perficient

Several institutional investors and hedge funds have recently made changes to their positions in the business. Glazer Capital LLC acquired a new position in Perficient in the 2nd quarter valued at about $35,686,000. Alpine Associates Management Inc. acquired a new position in shares of Perficient during the 2nd quarter valued at about $32,541,000. Millennium Management LLC increased its stake in shares of Perficient by 1,044.3% during the 2nd quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock valued at $35,577,000 after acquiring an additional 434,115 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of 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 acquiring an additional 404,154 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd acquired a new stake in Perficient during the 4th quarter worth approximately $25,474,000. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

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.