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

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

Perficient Stock Up 0.1 %

Perficient stock opened at $75.50 on Thursday. The stock has a market cap of $2.65 billion, a PE ratio of 32.26, a P/E/G ratio of 1.90 and a beta of 1.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.16 and a quick ratio of 4.16. The stock’s fifty day moving average is $75.12 and its two-hundred day moving average is $67.81. Perficient has a 1-year low of $42.51 and a 1-year high of $75.62.

Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.01). The business had revenue of $222.82 million for the quarter, compared to analysts’ expectations of $223.58 million. Perficient had a return on equity of 18.39% and a net margin of 8.48%. On average, sell-side analysts expect that Perficient will post 3.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Perficient

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Perficient by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock valued at $244,380,000 after purchasing an additional 50,313 shares during the last quarter. Wellington Management Group LLP grew its position in Perficient by 26.2% during the 4th quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock worth $128,064,000 after purchasing an additional 404,154 shares during the last quarter. Congress Asset Management Co. MA increased its stake in Perficient by 5.3% in the first quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock valued at $78,871,000 after purchasing an additional 71,004 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Perficient by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 958,595 shares of the digital transformation consultancy’s stock valued at $63,097,000 after buying an additional 14,606 shares during the last quarter. Finally, Glazer Capital LLC purchased a new stake in shares of Perficient in the second quarter valued at about $35,686,000. 95.00% of the stock is owned by institutional investors and hedge funds.

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.