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

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

Perficient Price Performance

Perficient stock opened at $75.96 on Wednesday. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.63. The business’s 50 day simple moving average is $75.60 and its 200 day simple moving average is $71.83. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70. Perficient has a 12 month low of $42.51 and a 12 month high of $76.01.

Perficient (NASDAQ:PRFT) last posted 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 company had revenue of $222.82 million for the quarter, compared to analysts’ expectations of $223.58 million. Sell-side analysts forecast that Perficient will post 2.83 EPS for the current year.

Hedge Funds Weigh In On Perficient

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new stake in shares of Perficient during the 1st quarter valued at about $25,000. GAMMA Investing LLC boosted its position in shares of Perficient by 156.7% during the second quarter. GAMMA Investing LLC now owns 552 shares of the digital transformation consultancy’s stock valued at $41,000 after buying an additional 337 shares during the period. CWM LLC grew its position in Perficient by 67.7% in the 2nd quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock valued at $43,000 after acquiring an additional 233 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new position in Perficient in the 2nd quarter worth about $74,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of Perficient during the second quarter valued at $138,000. Hedge funds and other 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.