StockNews.com Begins Coverage on Perficient (NASDAQ:PRFT)

Equities researchers at StockNews.com started coverage on shares of Perficient (NASDAQ:PRFT) in a research note issued to investors on Monday. The brokerage set a “sell” rating on the digital transformation consultancy’s stock.

A number of other research firms also recently weighed in on PRFT. JPMorgan Chase & Co. decreased their target price on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Scotiabank raised their target price on shares of Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a research report on Monday, May 6th. Alliance Global Partners reaffirmed a “neutral” rating on shares of Perficient in a research report on Tuesday, May 7th. Barrington Research reaffirmed a “market perform” rating on shares of Perficient in a research report on Tuesday, May 7th. Finally, Maxim Group reaffirmed a “hold” rating and issued a $76.00 target price on shares of Perficient in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Perficient has a consensus rating of “Hold” and a consensus target price of $70.43.

Perficient Trading Up 0.1 %

Shares of NASDAQ:PRFT opened at $74.48 on Monday. Perficient has a 12 month low of $42.51 and a 12 month high of $96.93. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $65.42 and its 200 day simple moving average is $64.67. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.87 and a beta of 1.63.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Sunday, May 5th. The digital transformation consultancy reported $0.77 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 business had revenue of $215.30 million for the quarter, compared to analyst estimates of $224.99 million. During the same period last year, the business posted $0.89 earnings per share. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, research analysts forecast that Perficient will post 3.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of Perficient during the 1st quarter worth about $349,000. Janus Henderson Group PLC lifted its stake in shares of Perficient by 5.7% during the 1st quarter. Janus Henderson Group PLC now owns 84,997 shares of the digital transformation consultancy’s stock worth $4,783,000 after buying an additional 4,592 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Perficient during the 1st quarter worth about $235,000. Mount Yale Investment Advisors LLC lifted its stake in shares of Perficient by 135.7% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 9,965 shares of the digital transformation consultancy’s stock worth $561,000 after buying an additional 5,738 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Perficient during the 1st quarter worth about $224,000. Institutional investors own 95.00% of the company’s stock.

About Perficient

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.