Brokerages Set Perficient, Inc. (NASDAQ:PRFT) Price Target at $70.43

Perficient, Inc. (NASDAQ:PRFT) has received a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $70.43.

PRFT has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a research note on Monday, May 6th. StockNews.com initiated coverage on Perficient in a research note on Monday, August 19th. They set a “sell” rating for the company. Maxim Group restated a “hold” rating and issued a $76.00 target price on shares of Perficient in a research note on Tuesday, May 7th. Scotiabank increased their target price on shares of Perficient from $50.00 to $76.00 and gave the stock a “sector perform” rating in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. cut their price target 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.

Perficient Trading Up 0.1 %

Shares of Perficient stock opened at $75.14 on Wednesday. Perficient has a 1 year low of $42.51 and a 1 year high of $75.50. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 1.89 and a beta of 1.62. The company’s fifty day simple moving average is $74.92 and its 200-day simple moving average is $67.15.

Institutional Investors Weigh In On Perficient

A number of hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its stake in shares of Perficient by 64.9% during the second quarter. Creative Planning now owns 8,312 shares of the digital transformation consultancy’s stock valued at $622,000 after purchasing an additional 3,271 shares during the last quarter. Algert Global LLC acquired a new position in Perficient during the 2nd quarter worth $1,451,000. Lighthouse Investment Partners LLC bought a new position in Perficient in the 2nd quarter valued at $202,000. The Manufacturers Life Insurance Company increased its stake in shares of Perficient by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,487 shares of the digital transformation consultancy’s stock valued at $1,457,000 after buying an additional 662 shares during the period. Finally, Millennium Management LLC raised its position in shares of Perficient by 1,044.3% during the second quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock worth $35,577,000 after acquiring an additional 434,115 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.