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

Shares of Perficient, Inc. (NASDAQ:PRFT) have been given an average rating of “Hold” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $70.43.

Separately, StockNews.com began coverage on Perficient in a research report on Monday. They issued a “sell” rating on the stock.

Perficient Price Performance

NASDAQ:PRFT opened at $75.96 on Thursday. The stock’s fifty day moving average price is $75.44 and its two-hundred day moving average price is $70.24. Perficient has a 52-week low of $42.51 and a 52-week high of $76.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.16 and a current ratio of 4.16. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 2.24 and a beta of 1.63.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data 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). Perficient had a return on equity of 18.39% and a net margin of 8.48%. The firm had revenue of $222.82 million for the quarter, compared to analyst estimates of $223.58 million. On average, analysts anticipate that Perficient will post 2.83 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRFT. Granahan Investment Management LLC lifted its holdings in Perficient by 7.3% during the fourth quarter. Granahan Investment Management LLC now owns 238,712 shares of the digital transformation consultancy’s stock worth $15,712,000 after acquiring an additional 16,234 shares in the last quarter. Ophir Asset Management Pty Ltd bought a new position in Perficient during the fourth quarter worth about $25,474,000. Spouting Rock Asset Management LLC lifted its holdings in Perficient by 5.8% during the fourth quarter. Spouting Rock Asset Management LLC now owns 17,966 shares of the digital transformation consultancy’s stock worth $1,183,000 after acquiring an additional 978 shares in the last quarter. Covenant Partners LLC lifted its holdings in Perficient by 8.2% during the fourth quarter. Covenant Partners LLC now owns 3,742 shares of the digital transformation consultancy’s stock worth $246,000 after acquiring an additional 283 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Perficient by 31.1% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 28,949 shares of the digital transformation consultancy’s stock worth $1,905,000 after acquiring an additional 6,867 shares in the last quarter. 95.00% of the stock is currently owned by institutional investors.

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.