Perficient (NASDAQ:PRFT) Sees Large Volume Increase

Perficient, Inc. (NASDAQ:PRFT) shares saw strong trading volume on Tuesday . 392,739 shares were traded during trading, a decline of 12% from the previous session’s volume of 446,131 shares.The stock last traded at $76.00 and had previously closed at $75.48.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Perficient in a research note on Saturday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, Perficient currently has a consensus rating of “Hold” and a consensus price target of $70.43.

Perficient Trading Up 0.7 %

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 stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 1.96 and a beta of 1.64. The business has a 50 day simple moving average of $75.25 and a 200-day simple moving average of $68.76.

Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). The business had revenue of $222.82 million during the quarter, compared to analyst estimates of $223.58 million. Perficient had a net margin of 8.48% and a return on equity of 18.39%. As a group, equities analysts expect that Perficient, Inc. will post 3.21 earnings per share for the current year.

Institutional Trading of Perficient

A number of institutional investors have recently modified their holdings of the company. Glazer Capital LLC bought a new position in shares of Perficient in the 2nd quarter valued at about $35,686,000. Alpine Associates Management Inc. bought a new position in shares of Perficient in the second quarter valued at about $32,541,000. Millennium Management LLC grew 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 buying an additional 434,115 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Perficient by 26.2% during the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock worth $128,064,000 after acquiring an additional 404,154 shares during the period. Finally, Ophir Asset Management Pty Ltd acquired a new stake in Perficient during the 4th quarter worth approximately $25,474,000. 95.00% of the stock is currently 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.