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

StockNews.com assumed coverage on shares of Perficient (NASDAQ:PRFTFree Report) in a research report report published on Sunday morning. The brokerage issued a sell rating on the digital transformation consultancy’s stock.

PRFT has been the topic of several other reports. Scotiabank upped their price target on Perficient from $50.00 to $76.00 and gave the stock a sector perform rating in a research note on Monday, May 6th. JPMorgan Chase & Co. reduced their price target on Perficient from $71.00 to $59.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Needham & Company LLC reissued a hold rating on shares of Perficient in a research note on Monday, May 6th. Guggenheim initiated coverage on Perficient in a research note on Tuesday, March 19th. They issued a neutral rating and a $65.00 target price on the stock. Finally, William Blair reissued a market perform rating on shares of Perficient in a research note on Monday, May 6th. One equities 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, the company currently has an average rating of Hold and a consensus target price of $70.43.

Get Our Latest Research Report on PRFT

Perficient Price Performance

PRFT opened at $74.40 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 4.18 and a current ratio of 4.18. Perficient has a 52-week low of $42.51 and a 52-week high of $96.93. The stock has a market capitalization of $2.62 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 1.87 and a beta of 1.63. The stock’s 50 day moving average price is $64.46 and its 200-day moving average price is $64.53.

Perficient (NASDAQ:PRFTGet Free Report) last issued its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. The company had revenue of $215.30 million for the quarter, compared to analysts’ expectations of $224.99 million. Perficient had a return on equity of 19.50% and a net margin of 9.40%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. On average, equities research analysts predict that Perficient will post 3.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Perficient by 10.1% during 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 purchasing an additional 16,350 shares in the last quarter. Confluence Investment Management LLC bought a new position in shares of Perficient during the first quarter valued at $2,886,000. Schroder Investment Management Group lifted its holdings 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 valued at $22,765,000 after purchasing an additional 12,686 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Perficient by 328.0% in the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock valued at $10,754,000 after acquiring an additional 142,427 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Perficient by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 336,403 shares of the digital transformation consultancy’s stock valued at $19,464,000 after acquiring an additional 16,817 shares during the period. 95.00% of the stock is owned by institutional investors.

About Perficient

(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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