Perficient (NASDAQ:PRFT) Now Covered by Analysts at StockNews.com

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

A number of other analysts have also recently weighed in on PRFT. Needham & Company LLC reaffirmed a hold rating on shares of Perficient in a research report on Monday, May 6th. William Blair reissued a market perform rating on shares of Perficient in a research report on Monday, May 6th. Alliance Global Partners reissued a neutral rating on shares of Perficient in a research report on Tuesday, May 7th. Maxim Group reissued a hold rating and set a $76.00 price objective on shares of Perficient in a research report on Tuesday, May 7th. Finally, Guggenheim started coverage on Perficient in a research report on Tuesday, March 19th. They set a neutral rating and a $65.00 price objective for the company. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Perficient has an average rating of Hold and an average price target of $70.43.

Perficient Price Performance

PRFT opened at $74.77 on Tuesday. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 1.97 and a beta of 1.62. Perficient has a 1 year low of $42.51 and a 1 year 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. The stock has a fifty day moving average price of $69.52 and a 200 day moving average price of $65.10.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.77. Perficient had a return on equity of 19.50% and a net margin of 9.40%. The company had revenue of $215.30 million during the quarter, compared to analysts’ expectations of $224.99 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. Analysts forecast that Perficient will post 3.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Perficient

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in Perficient by 10.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,360 shares of the digital transformation consultancy’s stock worth $11,740,000 after acquiring an additional 16,350 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in Perficient during the first quarter worth approximately $2,886,000. Schroder Investment Management Group increased its holdings in shares of Perficient by 3.8% during the fourth quarter. Schroder Investment Management Group now owns 345,875 shares of the digital transformation consultancy’s stock worth $22,765,000 after purchasing an additional 12,686 shares during the period. Congress Asset Management Co. MA increased its holdings in shares of 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 purchasing an additional 71,004 shares during the period. Finally, Natixis Advisors L.P. increased its holdings in shares of Perficient by 17.8% during the fourth quarter. Natixis Advisors L.P. now owns 60,923 shares of the digital transformation consultancy’s stock worth $4,009,000 after purchasing an additional 9,194 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.