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

Research analysts at StockNews.com began coverage on shares of Perficient (NASDAQ:PRFT) in a report issued on Tuesday. The brokerage set a “sell” rating on the digital transformation consultancy’s stock.

Perficient Stock Performance

NASDAQ:PRFT opened at $75.96 on Tuesday. Perficient has a 12 month low of $42.51 and a 12 month high of $76.01. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $75.50 and its 200 day moving average is $70.97. The stock has a market capitalization of $2.67 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.24 and a beta of 1.63.

Perficient (NASDAQ:PRFT) last issued its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.01). The firm had revenue of $222.82 million during the quarter, compared to the consensus estimate of $223.58 million. Perficient had a net margin of 8.48% and a return on equity of 18.39%. Sell-side analysts expect that Perficient will post 2.83 earnings per share for the current year.

Hedge Funds Weigh In On Perficient

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Glazer Capital LLC purchased a new stake in shares of Perficient during the 2nd quarter valued at approximately $35,686,000. Alpine Associates Management Inc. bought a new stake in Perficient during the 2nd quarter valued at $32,541,000. Millennium Management LLC lifted its position in shares of Perficient by 1,044.3% during the second quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock worth $35,577,000 after acquiring an additional 434,115 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Perficient in the second quarter worth $22,968,000. Finally, Pentwater Capital Management LP purchased a new position in shares of Perficient in the second quarter valued at $22,437,000. Institutional investors own 95.00% of the company’s stock.

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.