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

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

Perficient Stock Performance

PRFT opened at $75.96 on Friday. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70. The company’s fifty day moving average price is $75.81 and its two-hundred day moving average price is $74.46. Perficient has a 1-year low of $42.51 and a 1-year high of $76.01. 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.

Institutional Trading of Perficient

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Perficient by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock valued at $244,380,000 after purchasing an additional 50,313 shares during the last quarter. Glazer Capital LLC raised its holdings in shares of Perficient by 257.8% in the third quarter. Glazer Capital LLC now owns 1,707,040 shares of the digital transformation consultancy’s stock valued at $128,847,000 after purchasing an additional 1,229,890 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Perficient by 0.6% in the third quarter. Geode Capital Management LLC now owns 817,912 shares of the digital transformation consultancy’s stock valued at $61,747,000 after purchasing an additional 4,605 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Perficient by 1,044.3% in the second quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock valued at $35,577,000 after purchasing an additional 434,115 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Perficient by 45.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 447,988 shares of the digital transformation consultancy’s stock valued at $33,814,000 after purchasing an additional 140,888 shares during the last quarter. 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.