Perficient (NASDAQ:PRFT) Receives New Coverage from Analysts at StockNews.com

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

A number of other equities analysts have also issued reports on PRFT. Needham & Company LLC reaffirmed a hold rating on shares of Perficient in a research report on Monday, May 6th. William Blair reiterated a market perform rating on shares of Perficient in a research note on Monday, May 6th. 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 research note on Monday, May 6th. Finally, Maxim Group reaffirmed a hold rating and set a $76.00 price target on shares of Perficient in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $70.43.

Perficient Price Performance

Shares of NASDAQ PRFT opened at $75.28 on Friday. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 1.98 and a beta of 1.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.18 and a quick ratio of 4.18. Perficient has a 1-year low of $42.51 and a 1-year high of $75.42. The business has a 50-day moving average of $74.52 and a 200-day moving average of $66.39.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. The firm had revenue of $215.30 million for the quarter, compared to analyst estimates of $224.99 million. Perficient had a net margin of 9.40% and a return on equity of 19.50%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. On average, equities analysts anticipate that Perficient will post 3.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PRFT. Fidelis Capital Partners LLC bought a new stake in Perficient in the 1st quarter valued at about $25,000. GAMMA Investing LLC bought a new stake in Perficient in the 4th quarter valued at about $28,000. Parallel Advisors LLC lifted its position in Perficient by 73.9% in 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 last quarter. Principal Securities Inc. bought a new stake in Perficient in the 4th quarter valued at about $41,000. Finally, CWM LLC lifted its position in Perficient by 67.7% in the 2nd quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock valued at $43,000 after purchasing an additional 233 shares during the last quarter. 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.