Perficient (NASDAQ:PRFT) Research Coverage Started at StockNews.com

Analysts at StockNews.com began coverage on shares of Perficient (NASDAQ:PRFT) in a research report issued on Tuesday. The brokerage set a “sell” rating on the digital transformation consultancy’s stock.

Several other brokerages have also recently weighed in on PRFT. William Blair reissued a “market perform” rating on shares of Perficient in a research report on Monday, May 6th. Maxim Group reissued a “hold” rating and issued a $76.00 target price on shares of Perficient in a research note on Tuesday, May 7th. Scotiabank boosted their price target on Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a report on Monday, May 6th. Barrington Research reiterated a “market perform” rating on shares of Perficient in a report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. reduced their target price on Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $70.43.

Perficient Stock Up 0.0 %

Shares of NASDAQ:PRFT opened at $74.80 on Tuesday. The stock has a market capitalization of $2.63 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 1.97 and a beta of 1.62. The stock’s 50-day moving average price is $68.94 and its 200-day moving average price is $65.05. The company has a current ratio of 4.18, a quick 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 $96.93.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. Perficient had a return on equity of 19.50% and a net margin of 9.40%. 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 company earned $0.89 EPS. Perficient’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Perficient will post 3.16 earnings per share for the current year.

Institutional Investors Weigh In On Perficient

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Perficient by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock worth $244,380,000 after purchasing an additional 50,313 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Perficient by 26.2% during the 4th quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after buying an additional 404,154 shares during the period. Congress Asset Management Co. MA boosted its position in Perficient by 5.3% in the first quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock worth $78,871,000 after purchasing an additional 71,004 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Perficient by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock worth $63,097,000 after purchasing an additional 14,606 shares in the last quarter. Finally, Geneva Capital Management LLC increased its holdings in Perficient by 0.3% in the 4th quarter. Geneva Capital Management LLC now owns 952,399 shares of the digital transformation consultancy’s stock worth $62,687,000 after acquiring an additional 2,825 shares in the last quarter. 95.00% of the stock is owned by hedge funds and other institutional investors.

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.