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

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

A number of other equities research analysts also recently issued reports on PRFT. Maxim Group reiterated a hold rating and set a $76.00 price objective on shares of Perficient in a research note on Tuesday, May 7th. Needham & Company LLC reiterated a hold rating on shares of Perficient in a report on Monday, May 6th. JPMorgan Chase & Co. cut their price target on shares of Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a report on Thursday, May 2nd. Scotiabank upped 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, William Blair reaffirmed a market perform rating on shares of Perficient in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $70.43.

Perficient Stock Performance

NASDAQ PRFT opened at $75.03 on Friday. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 1.90 and a beta of 1.62. The company has a 50-day simple moving average of $74.70 and a two-hundred day simple moving average of $66.72. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.72. Perficient has a 12-month low of $42.51 and a 12-month high of $75.50.

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

Institutional Investors Weigh In On Perficient

Hedge funds have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new position in shares of Perficient in the first quarter worth $25,000. GAMMA Investing LLC purchased a new stake in shares of Perficient during the fourth quarter worth about $28,000. Parallel Advisors LLC increased its stake in Perficient by 73.9% in the fourth 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. acquired a new position in Perficient in the fourth quarter valued at $41,000. Finally, CWM LLC boosted its position in shares of Perficient by 67.7% in the second quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock worth $43,000 after acquiring an additional 233 shares during the last quarter. Institutional investors and hedge funds 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.