Perficient (NASDAQ:PRFT) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Perficient (NASDAQ:PRFT) in a report released on Thursday. The brokerage set a “sell” rating on the digital transformation consultancy’s stock.

PRFT has been the subject of a number of other reports. Needham & Company LLC reissued a “hold” rating on shares of Perficient in a research note on Monday, May 6th. Maxim Group reissued a “hold” rating and set a $76.00 price target on shares of Perficient in a report on Tuesday, May 7th. Alliance Global Partners reaffirmed a “neutral” rating on shares of Perficient in a research note on Tuesday, May 7th. William Blair reissued a “market perform” rating on shares of Perficient in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. dropped their price target on Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $70.43.

Perficient Trading Down 0.0 %

Perficient stock opened at $73.70 on Thursday. The business’s fifty day simple moving average is $57.19 and its two-hundred day simple moving average is $62.87. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.46. Perficient has a 12 month low of $42.51 and a 12 month high of $96.93. 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 (NASDAQ:PRFT) last issued its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The company had revenue of $215.30 million for the quarter, compared to analysts’ expectations of $224.99 million. Perficient had a net margin of 9.40% and a return on equity of 19.50%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.89 earnings per share. As a group, equities analysts predict that Perficient will post 3.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PRFT. Vanguard Group Inc. raised its stake in shares of Perficient by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock worth $244,380,000 after purchasing an additional 50,313 shares during the last quarter. Wellington Management Group LLP raised its position in 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 worth $128,064,000 after buying an additional 404,154 shares during the last quarter. Congress Asset Management Co. MA lifted its stake in Perficient by 5.3% during the 1st quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock valued at $78,871,000 after acquiring an additional 71,004 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Perficient by 12.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,161,771 shares of the digital transformation consultancy’s stock valued at $67,220,000 after acquiring an additional 130,099 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Perficient by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock worth $63,097,000 after acquiring an additional 14,606 shares during the period. 95.00% of the stock is 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.