StockNews.com Initiates Coverage on Perficient (NASDAQ:PRFT)

Equities research analysts at StockNews.com began coverage on shares of Perficient (NASDAQ:PRFT) in a research report issued to clients and investors on Tuesday. The firm set a “sell” rating on the digital transformation consultancy’s stock.

A number of other equities analysts have also recently weighed in on the company. Barrington Research reissued a “market perform” rating on shares of Perficient in a report on Tuesday, May 7th. Scotiabank upped their target price on shares of Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a report on Monday, May 6th. William Blair reaffirmed a “market perform” rating on shares of Perficient in a research note on Monday, May 6th. Maxim Group reissued a “hold” rating and issued a $76.00 price objective on shares of Perficient in a research report on Tuesday, May 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Perficient in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.43.

Perficient Trading Down 0.2 %

Shares of Perficient stock opened at $74.98 on Tuesday. Perficient has a 1 year low of $42.51 and a 1 year high of $75.50. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.16 and a quick ratio of 4.16. The business has a 50 day moving average price of $74.94 and a 200 day moving average price of $67.19. The company has a market capitalization of $2.64 billion, a P/E ratio of 32.04, a P/E/G ratio of 1.89 and a beta of 1.62.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PRFT. Nisa Investment Advisors LLC increased its position in Perficient by 9.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,913 shares of the digital transformation consultancy’s stock worth $143,000 after purchasing an additional 165 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Perficient by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 30,613 shares of the digital transformation consultancy’s stock valued at $2,290,000 after buying an additional 181 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Perficient by 3.8% during the 4th quarter. Handelsbanken Fonder AB now owns 5,412 shares of the digital transformation consultancy’s stock worth $356,000 after buying an additional 200 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after buying an additional 224 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Perficient by 2.4% in the second quarter. Arizona State Retirement System now owns 9,786 shares of the digital transformation consultancy’s stock valued at $732,000 after acquiring an additional 230 shares during the last quarter. 95.00% of the stock is currently owned by hedge funds and other 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.