Perficient (NASDAQ:PRFT) Upgraded to “Buy” at Zacks Investment Research

Perficient (NASDAQ:PRFTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage presently has a $112.00 price target on the digital transformation consultancy’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.72% from the company’s current price.

According to Zacks, “Perficient is the leading digital transformation consulting firm with unparalleled information technology, management consulting, and creative capabilities, Perficient and its Perficient Digital agency deliver vision, execution, and value with outstanding digital experience, business optimization, and industry solutions. Their work enables clients to improve productivity and competitiveness; grow and strengthen relationships with customers, suppliers, and partners; and reduce costs. Its solutions include big data and analytics, technology platform implementations, commerce, enterprise content management, portals and collaboration, management consulting, custom applications, business integration, business process management, and customer relationship management, among others. “

PRFT has been the topic of a number of other research reports. TheStreet downgraded Perficient from a “b” rating to a “c+” rating in a research note on Thursday, February 24th. StockNews.com started coverage on Perficient in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley began coverage on Perficient in a research note on Tuesday. They issued an “equal weight” rating and a $120.00 price target on the stock. Needham & Company LLC lowered their price objective on shares of Perficient from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Finally, Alliance Global Partners lowered their price objective on shares of Perficient from $138.00 to $122.00 in a research report on Monday, February 28th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $128.43.

NASDAQ:PRFT opened at $100.25 on Thursday. The stock’s fifty day moving average price is $105.82 and its two-hundred day moving average price is $116.84. Perficient has a 52-week low of $63.60 and a 52-week high of $153.28. 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 company has a market cap of $3.47 billion, a price-to-earnings ratio of 66.39, a P/E/G ratio of 1.60 and a beta of 1.51.

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

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new stake in shares of Perficient during the 4th quarter worth $26,000. CWM LLC lifted its position in shares of Perficient by 846.4% during the 1st quarter. CWM LLC now owns 265 shares of the digital transformation consultancy’s stock worth $29,000 after buying an additional 237 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in shares of Perficient by 1,971.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 290 shares of the digital transformation consultancy’s stock worth $37,000 after buying an additional 276 shares during the last quarter. Covestor Ltd bought a new stake in shares of Perficient during the 4th quarter worth $46,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Perficient by 924.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 543 shares of the digital transformation consultancy’s stock worth $62,000 after buying an additional 490 shares during the last quarter. 95.62% of the stock is currently owned by institutional investors.

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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