Perficient, Inc. (NASDAQ:PRFT) Receives $70.43 Consensus Target Price from Brokerages

Perficient, Inc. (NASDAQ:PRFT) has earned an average recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $70.43.

Separately, StockNews.com started coverage on Perficient in a research note on Sunday, October 6th. They issued a “sell” rating on the stock.

Hedge Funds Weigh In On Perficient

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Perficient by 1.2% during the first quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock worth $244,380,000 after buying an additional 50,313 shares in the last quarter. Wellington Management Group LLP grew its position in 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 buying an additional 404,154 shares in the last quarter. Congress Asset Management Co. MA grew its position in 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 buying an additional 71,004 shares in the last quarter. Glazer Capital LLC purchased a new position in Perficient during the second quarter worth about $35,686,000. Finally, Millennium Management LLC grew its position in 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 buying an additional 434,115 shares in the last quarter. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Perficient Stock Performance

Shares of Perficient stock opened at $75.96 on Thursday. The business’s fifty day simple moving average is $75.38 and its 200 day simple moving average is $69.81. The firm has a market capitalization of $2.67 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 2.24 and a beta of 1.63. 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.

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%. As a group, analysts anticipate that Perficient will post 2.83 EPS for the current year.

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.