Perficient (NASDAQ:PRFT) Coverage Initiated at StockNews.com

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

PRFT has been the topic of several other research reports. William Blair reissued a “market perform” rating on shares of Perficient in a research note on Monday, May 6th. JPMorgan Chase & Co. lowered their target price on Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Alliance Global Partners reaffirmed a “neutral” rating on shares of Perficient in a research note on Tuesday, May 7th. Maxim Group reissued a “hold” rating and issued a $76.00 price objective on shares of Perficient in a research note on Tuesday, May 7th. Finally, Barrington Research restated a “market perform” rating on shares of Perficient in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $70.43.

Perficient Stock Down 0.0 %

Shares of NASDAQ PRFT opened at $75.02 on Monday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 32.06, a price-to-earnings-growth ratio of 1.89 and a beta of 1.62. Perficient has a 52 week low of $42.51 and a 52 week high of $75.50. The firm has a 50-day moving average price of $74.88 and a 200 day moving average price of $67.03. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.70.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Creative Planning grew its position in shares of Perficient by 64.9% in the second quarter. Creative Planning now owns 8,312 shares of the digital transformation consultancy’s stock valued at $622,000 after purchasing an additional 3,271 shares during the period. Algert Global LLC acquired a new stake in Perficient in the 2nd quarter worth about $1,451,000. Lighthouse Investment Partners LLC purchased a new stake in Perficient in the 2nd quarter valued at about $202,000. The Manufacturers Life Insurance Company increased its stake in shares of Perficient by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,487 shares of the digital transformation consultancy’s stock valued at $1,457,000 after acquiring an additional 662 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Perficient by 1,044.3% during the 2nd quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock worth $35,577,000 after acquiring an additional 434,115 shares during the period. 95.00% of the stock is currently 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.