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

StockNews.com began coverage on shares of Perficient (NASDAQ:PRFT) in a research report sent to investors on Tuesday. The firm issued a sell rating on the digital transformation consultancy’s stock.

Perficient Price Performance

PRFT stock opened at $75.96 on Tuesday. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 2.24 and a beta of 1.63. Perficient has a twelve month low of $42.51 and a twelve month high of $76.01. The business has a 50 day moving average price of $75.56 and a two-hundred day moving average price of $71.21. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.70.

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 firm had revenue of $222.82 million during the quarter, compared to the consensus estimate of $223.58 million. Perficient had a net margin of 8.48% and a return on equity of 18.39%. Analysts anticipate that Perficient will post 2.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Perficient

A number of institutional investors and hedge funds have recently modified their holdings of PRFT. Glazer Capital LLC acquired a new position in Perficient during the second quarter worth approximately $35,686,000. Alpine Associates Management Inc. acquired a new position in shares of Perficient during the 2nd quarter worth approximately $32,541,000. Millennium Management LLC raised its stake in Perficient by 1,044.3% in 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 period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Perficient during the 2nd quarter valued at $22,968,000. Finally, Pentwater Capital Management LP acquired a new stake in Perficient during the 2nd quarter valued at $22,437,000. 95.00% of the stock is owned by 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.