Perficient, Inc. (NASDAQ:PRFT) Given Average Recommendation of “Hold” by Analysts

Perficient, Inc. (NASDAQ:PRFT) has been given a consensus rating of “Hold” by the eight research firms that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $70.43.

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price 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. Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a report on Monday, May 6th. Maxim Group reiterated a “hold” rating and set a $76.00 price target on shares of Perficient in a report on Tuesday, May 7th. Scotiabank lifted their price target on shares of Perficient from $50.00 to $76.00 and gave the stock a “sector perform” rating in a report on Monday, May 6th. Finally, William Blair reiterated a “market perform” rating on shares of Perficient in a report on Monday, May 6th.

Institutional Investors Weigh In On Perficient

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its stake in Perficient by 9.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,913 shares of the digital transformation consultancy’s stock valued at $143,000 after purchasing an additional 165 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Perficient by 3.8% in the fourth quarter. Handelsbanken Fonder AB now owns 5,412 shares of the digital transformation consultancy’s stock valued at $356,000 after purchasing an additional 200 shares in the last quarter. Parallel Advisors LLC increased its stake in Perficient by 73.9% in the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after purchasing an additional 224 shares in the last quarter. CWM LLC increased its stake in Perficient by 67.7% in the second quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock valued at $43,000 after purchasing an additional 233 shares in the last quarter. Finally, Comerica Bank increased its stake in Perficient by 1.3% in the fourth quarter. Comerica Bank now owns 18,682 shares of the digital transformation consultancy’s stock valued at $1,230,000 after purchasing an additional 235 shares in the last quarter. 95.00% of the stock is owned by institutional investors.

Perficient Stock Performance

Shares of NASDAQ:PRFT opened at $75.25 on Friday. The company’s 50 day simple moving average is $74.65 and its 200 day simple moving average is $66.63. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 1.90 and a beta of 1.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.18 and a quick ratio of 4.18. Perficient has a 1 year low of $42.51 and a 1 year high of $75.50.

Perficient (NASDAQ:PRFT) last issued its earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. Perficient had a net margin of 9.40% and a return on equity of 19.50%. The firm had revenue of $215.30 million for the quarter, compared to analyst estimates of $224.99 million. During the same quarter last year, the business posted $0.89 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, research analysts predict that Perficient will post 3.31 EPS for the current fiscal year.

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.