Perficient (NASDAQ:PRFT) Stock Rating Lowered by Zacks Investment Research

Perficient (NASDAQ:PRFTGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Perficient is the leading digital transformation consulting firm with unparalleled information technology, management consulting, and creative capabilities, Perficient and its Perficient Digital agency deliver vision, execution, and value with outstanding digital experience, business optimization, and industry solutions. Their work enables clients to improve productivity and competitiveness; grow and strengthen relationships with customers, suppliers, and partners; and reduce costs. Its solutions include big data and analytics, technology platform implementations, commerce, enterprise content management, portals and collaboration, management consulting, custom applications, business integration, business process management, and customer relationship management, among others. “

A number of other analysts also recently weighed in on PRFT. JPMorgan Chase & Co. cut their target price on Perficient from $138.00 to $133.00 in a research report on Friday, April 29th. Needham & Company LLC cut their target price on Perficient from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Maxim Group reiterated a “buy” rating and set a $140.00 target price on shares of Perficient in a research report on Friday, April 29th. TheStreet upgraded Perficient from a “c+” rating to a “b-” rating in a research report on Thursday, April 28th. Finally, Morgan Stanley initiated coverage on Perficient in a research report on Tuesday, April 26th. They set an “equal weight” rating and a $120.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $127.29.

PRFT stock opened at $104.78 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $3.63 billion, a PE ratio of 56.64, a PEG ratio of 1.45 and a beta of 1.50. Perficient has a 1-year low of $71.15 and a 1-year high of $153.28. The business’s 50 day simple moving average is $103.00 and its 200 day simple moving average is $110.76.

Perficient (NASDAQ:PRFTGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The digital transformation consultancy reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. Perficient had a return on equity of 27.60% and a net margin of 8.07%. The firm had revenue of $222.11 million for the quarter, compared to analyst estimates of $219.66 million. During the same period in the prior year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, sell-side analysts predict that Perficient will post 3.76 EPS for the current fiscal year.

In related news, Director Ralph C. Derrickson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $96.15, for a total transaction of $480,750.00. Following the completion of the sale, the director now owns 37,281 shares of the company’s stock, valued at $3,584,568.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRFT. CVA Family Office LLC acquired a new stake in Perficient during the fourth quarter worth approximately $26,000. CWM LLC grew its stake in Perficient by 846.4% in the first quarter. CWM LLC now owns 265 shares of the digital transformation consultancy’s stock valued at $29,000 after acquiring an additional 237 shares during the period. Point72 Hong Kong Ltd grew its stake in Perficient by 1,971.4% in the fourth quarter. Point72 Hong Kong Ltd now owns 290 shares of the digital transformation consultancy’s stock valued at $37,000 after acquiring an additional 276 shares during the period. Covestor Ltd acquired a new stake in Perficient in the fourth quarter valued at approximately $46,000. Finally, Meeder Asset Management Inc. acquired a new stake in Perficient in the first quarter valued at approximately $48,000. 89.37% of the stock is owned by institutional investors and hedge funds.

About Perficient (Get Rating)

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

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