Perficient (NASDAQ:PRFT) Downgraded by Zacks Investment Research

Perficient (NASDAQ:PRFTGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

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. “

A number of other equities analysts have also recently commented on the company. StockNews.com began coverage on Perficient in a report on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. decreased their price target on shares of Perficient from $138.00 to $133.00 in a research note on Friday, April 29th. Morgan Stanley began coverage on shares of Perficient in a research report on Tuesday, April 26th. They set an “equal weight” rating and a $120.00 target price on the stock. Maxim Group reaffirmed a “buy” rating and set a $140.00 price objective on shares of Perficient in a research report on Friday, April 29th. Finally, Barrington Research lowered their price objective on Perficient from $150.00 to $124.00 in a research report on Friday, February 25th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Perficient has a consensus rating of “Buy” and an average target price of $128.00.

PRFT opened at $95.89 on Friday. Perficient has a twelve month low of $70.89 and a twelve month high of $153.28. The firm has a 50 day moving average price of $104.77 and a 200-day moving average price of $113.97. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 51.83, a PEG ratio of 1.43 and a beta of 1.50.

Perficient (NASDAQ:PRFTGet Rating) last released its earnings results on Thursday, April 28th. The digital transformation consultancy reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. Perficient had a net margin of 8.07% and a return on equity of 27.60%. The company had revenue of $222.11 million for the quarter, compared to analysts’ expectations of $219.66 million. During the same quarter in the previous year, the company earned $0.63 EPS. Perficient’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, analysts expect that Perficient will post 3.75 earnings per share for the current year.

In related news, Director Gary Wimberly acquired 399 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were acquired at an average price of $100.00 per share, with a total value of $39,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in PRFT. US Bancorp DE increased its holdings in Perficient by 5.4% in the third quarter. US Bancorp DE now owns 1,921 shares of the digital transformation consultancy’s stock valued at $222,000 after buying an additional 99 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Perficient by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the digital transformation consultancy’s stock valued at $1,779,000 after acquiring an additional 100 shares during the period. Cooper Financial Group raised its stake in shares of Perficient by 2.4% in the 1st quarter. Cooper Financial Group now owns 4,442 shares of the digital transformation consultancy’s stock worth $489,000 after buying an additional 105 shares in the last quarter. MML Investors Services LLC lifted its holdings in Perficient by 5.1% in the 4th quarter. MML Investors Services LLC now owns 2,229 shares of the digital transformation consultancy’s stock valued at $288,000 after acquiring an additional 109 shares during the last quarter. Finally, Hanseatic Management Services Inc. grew its position in Perficient by 2.1% in the fourth quarter. Hanseatic Management Services Inc. now owns 5,820 shares of the digital transformation consultancy’s stock worth $752,000 after buying an additional 121 shares during the last quarter. 89.37% of the stock is currently owned by institutional investors and hedge funds.

About Perficient (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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