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

StockNews.com started coverage on shares of Perficient (NASDAQ:PRFT) in a research report issued on Thursday. The firm set a “sell” rating on the digital transformation consultancy’s stock.

Perficient Price Performance

Shares of NASDAQ PRFT opened at $75.96 on Thursday. The stock has a market capitalization of $2.67 billion, a P/E ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.63. The stock’s fifty day moving average is $75.69 and its 200 day moving average is $72.91. Perficient has a 52 week low of $42.51 and a 52 week high of $76.01. 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 released its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.01). Perficient had a net margin of 8.48% and a return on equity of 18.39%. The firm had revenue of $222.82 million during the quarter, compared to the consensus estimate of $223.58 million. Sell-side analysts forecast that Perficient will post 2.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perficient

A number of large investors have recently modified their holdings of PRFT. Tokio Marine Asset Management Co. Ltd. boosted its stake in Perficient by 167.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 196,900 shares of the digital transformation consultancy’s stock valued at $14,862,000 after buying an additional 123,400 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Perficient in the 3rd quarter valued at approximately $203,000. Principal Financial Group Inc. grew its holdings in shares of Perficient by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 190,592 shares of the digital transformation consultancy’s stock valued at $14,386,000 after purchasing an additional 3,733 shares during the last quarter. Inspire Investing LLC increased its position in Perficient by 15.9% during the 3rd quarter. Inspire Investing LLC now owns 5,439 shares of the digital transformation consultancy’s stock worth $411,000 after purchasing an additional 747 shares in the last quarter. Finally, Trium Capital LLP lifted its stake in Perficient by 920.7% in the 3rd quarter. Trium Capital LLP now owns 193,534 shares of the digital transformation consultancy’s stock valued at $14,608,000 after purchasing an additional 174,574 shares during the last quarter. Institutional investors and hedge funds 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.