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

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

Perficient Price Performance

Shares of NASDAQ PRFT opened at $75.96 on Monday. Perficient has a fifty-two week low of $42.51 and a fifty-two week high of $76.01. The company has a 50 day simple moving average of $75.40 and a two-hundred day simple moving average of $70.06. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 2.24 and a beta of 1.63. The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.16 and a current ratio of 4.16.

Perficient (NASDAQ:PRFT) last announced its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share 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 business had revenue of $222.82 million for the quarter, compared to the consensus estimate of $223.58 million. Analysts expect that Perficient will post 2.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Perficient

A number of institutional investors have recently made changes to their positions in PRFT. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Perficient by 31.1% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 28,949 shares of the digital transformation consultancy’s stock valued at $1,905,000 after buying an additional 6,867 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Perficient by 26.2% in 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 purchasing an additional 404,154 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in Perficient by 4.5% in the fourth quarter. Nomura Holdings Inc. now owns 113,240 shares of the digital transformation consultancy’s stock worth $7,453,000 after purchasing an additional 4,891 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in Perficient in the first quarter worth approximately $2,886,000. Finally, Park Avenue Securities LLC boosted its holdings in Perficient by 9.7% in the first quarter. Park Avenue Securities LLC now owns 4,014 shares of the digital transformation consultancy’s stock worth $226,000 after purchasing an additional 355 shares during the last quarter. Hedge funds and other 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.