Perficient (NASDAQ:PRFT) Now Covered by Analysts at StockNews.com

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

Perficient Price Performance

PRFT stock opened at $75.96 on Monday. Perficient has a 52 week low of $42.51 and a 52 week high of $76.01. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $75.45 and a two-hundred day simple moving average of $70.28. The firm has a market capitalization of $2.67 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 2.24 and a beta of 1.63.

Perficient (NASDAQ:PRFT) last announced its earnings results on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.01). Perficient had a net margin of 8.48% and a return on equity of 18.39%. The business had revenue of $222.82 million for the quarter, compared to analysts’ expectations of $223.58 million. Analysts anticipate that Perficient will post 2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Perficient

A number of institutional investors and hedge funds have recently modified their holdings of PRFT. Teachers Retirement System of The State of Kentucky boosted its stake in Perficient by 31.1% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 28,949 shares of the digital transformation consultancy’s stock worth $1,905,000 after buying an additional 6,867 shares during the period. Wellington Management Group LLP boosted its stake in shares of 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 period. Nomura Holdings Inc. grew its holdings in Perficient by 4.5% during the 4th quarter. Nomura Holdings Inc. now owns 113,240 shares of the digital transformation consultancy’s stock valued at $7,453,000 after purchasing an additional 4,891 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in Perficient in the 1st quarter worth about $2,886,000. Finally, Park Avenue Securities LLC raised its position in Perficient by 9.7% in the 1st quarter. Park Avenue Securities LLC now owns 4,014 shares of the digital transformation consultancy’s stock worth $226,000 after purchasing an additional 355 shares during the period. Hedge funds and other institutional investors 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.