StockNews.com Begins Coverage on Perficient (NASDAQ:PRFT)

StockNews.com started coverage on shares of Perficient (NASDAQ:PRFT) in a research report sent to investors on Monday morning. The brokerage issued a sell rating on the digital transformation consultancy’s stock.

A number of other equities research analysts have also issued reports on the stock. Needham & Company LLC reaffirmed a hold rating on shares of Perficient in a report on Monday, May 6th. Barrington Research reissued a market perform rating on shares of Perficient in a report on Tuesday, May 7th. Alliance Global Partners reissued a neutral rating on shares of Perficient in a report on Tuesday, May 7th. JPMorgan Chase & Co. dropped their price objective on shares of Perficient from $71.00 to $59.00 and set a neutral rating for the company in a report on Thursday, May 2nd. Finally, Maxim Group reissued a hold rating and issued a $76.00 price objective 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 issued a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $70.43.

Perficient Price Performance

Perficient stock opened at $74.45 on Monday. Perficient has a 52-week low of $42.51 and a 52-week high of $96.93. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 1.96 and a beta of 1.63. The company has a fifty day simple moving average of $67.12 and a 200-day simple moving average of $64.88. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.72.

Perficient (NASDAQ:PRFT) last released its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. Perficient had a net margin of 9.40% and a return on equity of 19.50%. The business had revenue of $215.30 million during the quarter, compared to analyst estimates of $224.99 million. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Perficient will post 3.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in Perficient by 10.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 178,360 shares of the digital transformation consultancy’s stock valued at $11,740,000 after buying an additional 16,350 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in shares of Perficient during the first quarter worth about $2,886,000. Schroder Investment Management Group lifted its position in shares of Perficient by 3.8% during the fourth quarter. Schroder Investment Management Group now owns 345,875 shares of the digital transformation consultancy’s stock worth $22,765,000 after purchasing an additional 12,686 shares in the last quarter. Congress Asset Management Co. MA lifted its position in shares of Perficient by 5.3% during the first quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock worth $78,871,000 after purchasing an additional 71,004 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Perficient by 328.0% during the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock worth $10,754,000 after purchasing an additional 142,427 shares in the last quarter. Institutional investors and hedge funds 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.