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

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

Perficient Stock Performance

Shares of NASDAQ:PRFT opened at $75.96 on Wednesday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.63. Perficient has a 12 month low of $42.51 and a 12 month high of $76.01. The company’s fifty day simple moving average is $75.61 and its 200 day simple moving average is $71.86. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.70.

Perficient (NASDAQ:PRFT) last released 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%. As a group, research analysts forecast that Perficient will post 2.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Perficient

Several hedge funds have recently made changes to their positions in the business. Fidelis Capital Partners LLC bought a new stake in shares of Perficient in the first quarter worth $25,000. GAMMA Investing LLC lifted its position in Perficient by 156.7% during the 2nd quarter. GAMMA Investing LLC now owns 552 shares of the digital transformation consultancy’s stock worth $41,000 after buying an additional 337 shares in the last quarter. CWM LLC boosted its stake in shares of Perficient by 67.7% during the 2nd quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock worth $43,000 after buying an additional 233 shares during the last quarter. Longfellow Investment Management Co. LLC acquired a new position in shares of Perficient during the 2nd quarter worth about $74,000. Finally, SG Americas Securities LLC bought a new position in shares of Perficient in the 1st quarter valued at about $117,000. 95.00% of the stock is owned by institutional investors.

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.