Perficient (NASDAQ:PRFT) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Perficient (NASDAQ:PRFTGet Rating) in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage set an “equal weight” rating on the digital transformation consultancy’s stock.

Other research analysts have also issued research reports about the stock. Needham & Company LLC decreased their price target on shares of Perficient from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. Alliance Global Partners decreased their price target on shares of Perficient from $138.00 to $122.00 in a research note on Monday, February 28th. Barrington Research decreased their price target on shares of Perficient from $150.00 to $124.00 in a research note on Friday, February 25th. Zacks Investment Research lowered shares of Perficient from a “buy” rating to a “hold” rating in a research note on Friday, April 15th. Finally, TheStreet lowered shares of Perficient from a “b” rating to a “c+” rating in a research note on Thursday, February 24th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $131.33.

Shares of PRFT stock opened at $106.05 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.79 and a current ratio of 1.79. The firm’s 50-day moving average is $105.94 and its 200-day moving average is $117.07. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 70.23, a PEG ratio of 1.60 and a beta of 1.51. Perficient has a 52-week low of $63.45 and a 52-week high of $153.28.

Perficient (NASDAQ:PRFTGet Rating) last issued its earnings results on Thursday, February 24th. The digital transformation consultancy reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.08. The company had revenue of $214.73 million for the quarter, compared to analysts’ expectations of $207.17 million. Perficient had a net margin of 6.84% and a return on equity of 24.49%. Perficient’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. Sell-side analysts predict that Perficient will post 3.72 EPS for the current fiscal year.

In other Perficient news, Director Gary Wimberly bought 399 shares of the firm’s stock in a transaction on Monday, February 28th. The shares were purchased at an average price of $100.00 per share, for a total transaction of $39,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Keybank National Association OH boosted its position in shares of Perficient by 1.8% during the 3rd quarter. Keybank National Association OH now owns 4,749 shares of the digital transformation consultancy’s stock worth $549,000 after acquiring an additional 83 shares in the last quarter. US Bancorp DE boosted its position in shares of Perficient by 5.4% during the 3rd quarter. US Bancorp DE now owns 1,921 shares of the digital transformation consultancy’s stock worth $222,000 after acquiring an additional 99 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Perficient by 1.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,812 shares of the digital transformation consultancy’s stock worth $904,000 after acquiring an additional 100 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Perficient by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the digital transformation consultancy’s stock worth $1,779,000 after acquiring an additional 100 shares in the last quarter. Finally, Cooper Financial Group boosted its position in shares of Perficient by 2.4% during the 1st quarter. Cooper Financial Group now owns 4,442 shares of the digital transformation consultancy’s stock worth $489,000 after acquiring an additional 105 shares in the last quarter. Institutional investors and hedge funds own 95.62% of the company’s stock.

Perficient Company Profile (Get Rating)

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

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