Perficient (NASDAQ:PRFT) Sets New 12-Month High at $75.57

Perficient, Inc. (NASDAQ:PRFT) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $75.57 and last traded at $75.57, with a volume of 246939 shares traded. The stock had previously closed at $75.30.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Perficient in a research report on Wednesday, September 4th. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $70.43.

Perficient Stock Performance

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 stock has a market cap of $2.66 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 1.89 and a beta of 1.64. The stock’s fifty day moving average is $75.07 and its 200-day moving average is $67.56.

Perficient (NASDAQ:PRFT) last announced its quarterly 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). The firm had revenue of $222.82 million during the quarter, compared to analyst estimates of $223.58 million. Perficient had a net margin of 8.48% and a return on equity of 18.39%. On average, analysts forecast that Perficient, Inc. will post 3.31 EPS for the current year.

Institutional Trading of Perficient

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Perficient by 1.2% in the first 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 increased its position in shares of Perficient by 26.2% in the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after acquiring an additional 404,154 shares during the last quarter. Congress Asset Management Co. MA raised its holdings in Perficient by 5.3% during the first quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock worth $78,871,000 after acquiring an additional 71,004 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Perficient by 1.5% during 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 purchasing an additional 14,606 shares during the last quarter. Finally, Glazer Capital LLC bought a new position in Perficient in the second quarter valued at approximately $35,686,000. Institutional investors and hedge funds 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.