Perficient (NASDAQ:PRFT) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Perficient (NASDAQ:PRFT) in a research note released on Thursday. The brokerage issued a sell rating on the digital transformation consultancy’s stock.

PRFT has been the subject of several other research reports. Alliance Global Partners reiterated a neutral rating on shares of Perficient in a research report on Tuesday, May 7th. Barrington Research reaffirmed a market perform rating on shares of Perficient in a research note on Tuesday, May 7th. William Blair reissued a market perform rating on shares of Perficient in a research report on Monday, May 6th. JPMorgan Chase & Co. cut their price objective on shares of Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a research report on Thursday, May 2nd. Finally, Maxim Group reaffirmed a hold rating and set a $76.00 price target on shares of Perficient in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Perficient presently has an average rating of Hold and an average target price of $70.43.

Perficient Trading Down 0.0 %

Shares of PRFT stock opened at $74.85 on Thursday. Perficient has a 12-month low of $42.51 and a 12-month high of $96.43. The company has a market capitalization of $2.63 billion, a P/E ratio of 31.99, a P/E/G ratio of 1.97 and a beta of 1.62. The firm has a 50-day moving average price of $74.34 and a 200 day moving average price of $65.88. 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 announced its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $215.30 million during the quarter, compared to the consensus estimate of $224.99 million. Perficient had a net margin of 9.40% and a return on equity of 19.50%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. Research analysts forecast that Perficient will post 3.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its holdings in shares of Perficient by 9.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,913 shares of the digital transformation consultancy’s stock worth $143,000 after acquiring an additional 165 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Perficient by 4,555.6% in the second quarter. Blue Trust Inc. now owns 3,771 shares of the digital transformation consultancy’s stock worth $282,000 after acquiring an additional 3,690 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Perficient in the 2nd quarter valued at approximately $4,009,000. SG Americas Securities LLC raised its holdings in Perficient by 135.5% in the 2nd quarter. SG Americas Securities LLC now owns 4,885 shares of the digital transformation consultancy’s stock valued at $365,000 after buying an additional 2,811 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in Perficient by 10.2% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,164 shares of the digital transformation consultancy’s stock valued at $536,000 after buying an additional 661 shares during the last quarter. Institutional investors own 95.00% of the company’s stock.

Perficient Company Profile

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.