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

StockNews.com began coverage on shares of Perficient (NASDAQ:PRFT) in a research report report published on Saturday. The firm issued a sell rating on the digital transformation consultancy’s stock.

PRFT has been the subject of several other research reports. Maxim Group reaffirmed a hold rating and issued a $76.00 price target on shares of Perficient in a report on Tuesday, May 7th. William Blair reaffirmed a market perform rating on shares of Perficient in a report on Monday, May 6th. Barrington Research reaffirmed a market perform rating on shares of Perficient in a report on Tuesday, May 7th. Scotiabank increased their target price on Perficient from $50.00 to $76.00 and gave the stock a sector perform rating in a report on Monday, May 6th. Finally, Needham & Company LLC reissued a hold rating on shares of Perficient in a report on Monday, May 6th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, Perficient currently has an average rating of Hold and a consensus price target of $70.43.

Perficient Stock Performance

NASDAQ:PRFT traded down $0.06 during mid-day trading on Friday, hitting $75.25. 589,237 shares of the company’s stock traded hands, compared to its average volume of 425,869. The firm has a 50 day moving average of $74.65 and a two-hundred day moving average of $66.64. Perficient has a 12 month low of $42.51 and a 12 month high of $75.50. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 1.90 and a beta of 1.62. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.72.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $215.30 million during the quarter, compared to analysts’ expectations of $224.99 million. Perficient had a return on equity of 19.50% and a net margin of 9.40%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, equities analysts forecast that Perficient will post 3.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perficient

A number of hedge funds and other institutional investors have recently bought and sold shares of PRFT. BNP Paribas Financial Markets boosted its position in Perficient by 36.8% in the 1st quarter. BNP Paribas Financial Markets now owns 34,266 shares of the digital transformation consultancy’s stock valued at $1,929,000 after buying an additional 9,222 shares during the last quarter. UniSuper Management Pty Ltd bought a new position in Perficient in the 1st quarter valued at $463,000. Allspring Global Investments Holdings LLC boosted its position in Perficient by 10.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,360 shares of the digital transformation consultancy’s stock valued at $11,740,000 after buying an additional 16,350 shares during the last quarter. Confluence Investment Management LLC bought a new position in Perficient in the 1st quarter valued at $2,886,000. Finally, Norden Group LLC boosted its position in shares of Perficient by 2,123.4% in the 1st quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy’s stock worth $5,499,000 after purchasing an additional 93,301 shares during the last quarter. 95.00% of the stock is owned by institutional investors and hedge funds.

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.