Perficient (NASDAQ:PRFT) Now Covered by StockNews.com

Analysts at StockNews.com assumed coverage on shares of Perficient (NASDAQ:PRFTGet Free Report) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating on the digital transformation consultancy’s stock.

A number of other research firms have also recently weighed in on PRFT. JPMorgan Chase & Co. dropped their target price on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Guggenheim assumed coverage on Perficient in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 target price for the company. Barrington Research reaffirmed a “market perform” rating on shares of Perficient in a research report on Tuesday, May 7th. William Blair reissued a “market perform” rating on shares of Perficient in a report on Monday, May 6th. Finally, Alliance Global Partners reaffirmed a “neutral” rating on shares of Perficient in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $70.43.

Check Out Our Latest Analysis on PRFT

Perficient Trading Down 0.1 %

Shares of Perficient stock opened at $74.85 on Wednesday. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $72.58 and a 200 day simple moving average of $65.38. Perficient has a 12-month low of $42.51 and a 12-month high of $96.93. The company has a market capitalization of $2.63 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 1.97 and a beta of 1.62.

Perficient (NASDAQ:PRFTGet Free Report) last posted its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The firm had revenue of $215.30 million for the quarter, compared to analysts’ expectations of $224.99 million. Perficient had a net margin of 9.40% and a return on equity of 19.50%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 EPS. On average, sell-side analysts anticipate that Perficient will post 3.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Graham Capital Management L.P. purchased a new position in Perficient during the third quarter worth about $522,000. Vanguard Group Inc. lifted its holdings in shares of Perficient by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,316,958 shares of the digital transformation consultancy’s stock worth $249,779,000 after acquiring an additional 158,842 shares during the last quarter. Legacy Wealth Asset Management LLC purchased a new position in Perficient in the fourth quarter worth $225,000. Raymond James Financial Services Advisors Inc. grew its position in Perficient by 2.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,277 shares of the digital transformation consultancy’s stock worth $874,000 after acquiring an additional 326 shares in the last quarter. Finally, Tributary Capital Management LLC increased its stake in Perficient by 20.4% in the fourth quarter. Tributary Capital Management LLC now owns 6,500 shares of the digital transformation consultancy’s stock valued at $428,000 after acquiring an additional 1,100 shares during the last quarter. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Perficient Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Perficient (NASDAQ:PRFT)

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