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

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

Perficient Stock Up 0.6 %

PRFT stock opened at $75.96 on Friday. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70. Perficient has a twelve month low of $42.51 and a twelve month high of $76.01. The company’s 50 day moving average is $75.27 and its two-hundred day moving average is $68.87. The stock has a market cap of $2.67 billion, a P/E ratio of 32.46, a PEG ratio of 1.96 and a beta of 1.64.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Thursday, August 8th. The digital transformation consultancy reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). Perficient had a return on equity of 18.39% and a net margin of 8.48%. The company had revenue of $222.82 million for the quarter, compared to analyst estimates of $223.58 million. Research analysts expect that Perficient will post 3.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Perficient

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 50,313 shares during the period. Wellington Management Group LLP increased its holdings in shares of Perficient by 26.2% in the 4th 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 period. Congress Asset Management Co. MA increased its holdings in shares of Perficient by 5.3% in the 1st 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 acquiring an additional 71,004 shares during the period. Glazer Capital LLC acquired a new position in shares of Perficient in the 2nd quarter valued at $35,686,000. Finally, Millennium Management LLC increased its holdings in shares of Perficient by 1,044.3% in the 2nd quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock valued at $35,577,000 after acquiring an additional 434,115 shares during the period. 95.00% of the stock is owned by institutional investors and hedge funds.

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.