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

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

Perficient Price Performance

NASDAQ PRFT opened at $75.50 on Friday. The stock has a market capitalization of $2.65 billion, a P/E ratio of 32.26, a P/E/G ratio of 1.90 and a beta of 1.64. Perficient has a 1 year low of $42.51 and a 1 year high of $75.66. The business’s fifty day moving average is $75.19 and its two-hundred day moving average is $68.30. 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 issued its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). Perficient had a return on equity of 18.39% and a net margin of 8.48%. The company had revenue of $222.82 million during the quarter, compared to analyst estimates of $223.58 million. On average, research analysts forecast that Perficient will post 3.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PRFT. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Perficient in the 2nd quarter worth approximately $22,968,000. Bardin Hill Management Partners LP acquired a new stake in shares of Perficient in the second quarter worth $2,943,000. Ariadne Wealth Management LP acquired a new stake in shares of Perficient in the second quarter worth $3,327,000. Creative Planning grew its holdings in shares of Perficient by 64.9% during the second quarter. Creative Planning now owns 8,312 shares of the digital transformation consultancy’s stock valued at $622,000 after buying an additional 3,271 shares in the last quarter. Finally, Algert Global LLC acquired a new position in Perficient during the second quarter valued at $1,451,000. 95.00% of the stock is currently 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.