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

StockNews.com started coverage on shares of Perficient (NASDAQ:PRFT) in a research note issued to investors on Monday. The brokerage issued a sell rating on the digital transformation consultancy’s stock.

A number of other equities analysts have also recently commented on the stock. Alliance Global Partners reissued a neutral rating on shares of Perficient in a research note on Tuesday, May 7th. Scotiabank lifted their price objective on shares of Perficient from $50.00 to $76.00 and gave the stock a sector perform rating in a research note on Monday, May 6th. William Blair reissued a market perform rating on shares of Perficient in a research note on Monday, May 6th. Maxim Group restated a hold rating and issued a $76.00 target price on shares of Perficient in a report on Tuesday, May 7th. Finally, Needham & Company LLC restated a hold rating on shares of Perficient in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $70.43.

Perficient Stock Performance

PRFT opened at $74.45 on Monday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 1.96 and a beta of 1.63. The company has a fifty day moving average of $67.12 and a 200 day moving average of $64.88. Perficient has a fifty-two week low of $42.51 and a fifty-two week high of $96.93. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.18 and a current ratio of 4.18.

Perficient (NASDAQ:PRFT) last posted its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $215.30 million during the quarter, compared to analysts’ expectations of $224.99 million. Perficient had a net margin of 9.40% and a return on equity of 19.50%. Perficient’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the company posted $0.89 earnings per share. As a group, sell-side analysts forecast that Perficient will post 3.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perficient

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in Perficient during the 4th quarter valued at about $28,000. Fidelis Capital Partners LLC purchased a new position in Perficient during the 1st quarter valued at about $25,000. Parallel Advisors LLC increased its position in Perficient by 73.9% during the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after purchasing an additional 224 shares during the period. Principal Securities Inc. purchased a new position in Perficient during the 4th quarter valued at about $41,000. Finally, Park Place Capital Corp increased its position in Perficient by 41.1% during the 1st quarter. Park Place Capital Corp now owns 1,180 shares of the digital transformation consultancy’s stock valued at $66,000 after purchasing an additional 344 shares during the period. Institutional investors own 95.00% of the company’s stock.

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.