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

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

Perficient Price Performance

Shares of PRFT opened at $75.96 on Tuesday. Perficient has a fifty-two week low of $42.51 and a fifty-two week high of $76.01. The firm’s 50-day simple moving average is $75.47 and its two-hundred day simple moving average is $70.64. The stock has a market cap of $2.67 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.24 and a beta of 1.63. 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 issued its quarterly earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). Perficient had a return on equity of 18.39% and a net margin of 8.48%. The company had revenue of $222.82 million during the quarter, compared to the consensus estimate of $223.58 million. Analysts anticipate that Perficient will post 2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Perficient

Several large investors have recently modified their holdings of PRFT. Vanguard Group Inc. increased its stake in Perficient by 1.2% during the 1st 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 in the last quarter. Glazer Capital LLC purchased a new stake in shares of Perficient during the second quarter valued at approximately $35,686,000. Millennium Management LLC increased its position in shares of Perficient by 1,044.3% during the second quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock valued at $35,577,000 after acquiring an additional 434,115 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in Perficient by 1.7% in the 1st quarter. Lord Abbett & CO. LLC now owns 468,466 shares of the digital transformation consultancy’s stock worth $26,370,000 after acquiring an additional 7,931 shares during the last quarter. Finally, Alpine Associates Management Inc. bought a new position in Perficient in the 2nd quarter valued at approximately $32,541,000. 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.