Perficient (NASDAQ:PRFT) Coverage Initiated by Analysts at StockNews.com

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

Perficient Price Performance

Perficient stock opened at $75.96 on Tuesday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.63. The stock’s 50 day moving average is $75.56 and its 200-day moving average is $71.21. 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 has a 12 month low of $42.51 and a 12 month high of $76.01.

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

Institutional Trading of Perficient

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