Perficient (NASDAQ:PRFT) Earns Sell Rating from Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Perficient (NASDAQ:PRFT) in a research report issued on Monday. The brokerage set a “sell” rating on the digital transformation consultancy’s stock.

Several other analysts also recently issued reports on PRFT. Scotiabank increased their price target on Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a report on Monday, May 6th. Maxim Group reiterated a “hold” rating and issued a $76.00 price target on shares of Perficient in a report on Tuesday, May 7th. Guggenheim assumed coverage on shares of Perficient in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, William Blair reissued a “market perform” rating on shares of Perficient in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, Perficient has a consensus rating of “Hold” and an average target price of $70.43.

Perficient Price Performance

Shares of NASDAQ PRFT opened at $74.43 on Monday. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $2.62 billion, a PE ratio of 31.81, a P/E/G ratio of 1.88 and a beta of 1.63. The firm has a fifty day moving average of $66.53 and a 200-day moving average of $64.82. Perficient has a 52-week low of $42.51 and a 52-week high of $96.93.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings results on Sunday, May 5th. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. Perficient had a return on equity of 19.50% and a net margin of 9.40%. The firm had revenue of $215.30 million during the quarter, compared to the consensus estimate of $224.99 million. During the same period in the prior year, the firm earned $0.89 EPS. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, analysts anticipate that Perficient will post 3.31 EPS for the current year.

Hedge Funds Weigh In On Perficient

Several large investors have recently modified their holdings of PRFT. HighTower Advisors LLC bought a new position in shares of Perficient during the third quarter worth about $329,000. Deutsche Bank AG raised its stake in Perficient by 10.7% during the third quarter. Deutsche Bank AG now owns 18,654 shares of the digital transformation consultancy’s stock worth $1,079,000 after acquiring an additional 1,800 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Perficient during the third quarter worth about $447,000. Envestnet Asset Management Inc. raised its stake in Perficient by 328.0% during the third quarter. Envestnet Asset Management Inc. now owns 185,856 shares of the digital transformation consultancy’s stock worth $10,754,000 after acquiring an additional 142,427 shares during the period. Finally, Federated Hermes Inc. raised its stake in Perficient by 25.1% during the third quarter. Federated Hermes Inc. now owns 35,183 shares of the digital transformation consultancy’s stock worth $2,036,000 after acquiring an additional 7,058 shares during the period. Institutional investors own 95.00% of the company’s stock.

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.