Perficient, Inc. (NASDAQ:PRFT) Receives Consensus Rating of “Hold” from Brokerages

Perficient, Inc. (NASDAQ:PRFT) has received a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $70.43.

Separately, StockNews.com assumed coverage on shares of Perficient in a research note on Friday. They issued a “sell” rating for the company.

Perficient Stock Performance

NASDAQ PRFT opened at $75.50 on Friday. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.70. The stock’s 50-day simple moving average is $75.18 and its two-hundred day simple moving average is $68.19. Perficient has a twelve month low of $42.51 and a twelve month high of $75.66. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 1.90 and a beta of 1.64.

Perficient (NASDAQ:PRFT) last announced 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). The firm had revenue of $222.82 million for the quarter, compared to analysts’ expectations of $223.58 million. Perficient had a net margin of 8.48% and a return on equity of 18.39%. Research analysts forecast that Perficient will post 3.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PRFT. BNP Paribas Financial Markets boosted its position in Perficient by 36.8% during the 1st quarter. BNP Paribas Financial Markets now owns 34,266 shares of the digital transformation consultancy’s stock valued at $1,929,000 after buying an additional 9,222 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Perficient during the first quarter valued at about $463,000. Confluence Investment Management LLC purchased a new stake in shares of Perficient during the first quarter worth about $2,886,000. Norden Group LLC grew its stake in shares of Perficient by 2,123.4% in the first quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy’s stock worth $5,499,000 after purchasing an additional 93,301 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in Perficient by 3.8% during the 4th quarter. Schroder Investment Management Group now owns 345,875 shares of the digital transformation consultancy’s stock valued at $22,765,000 after purchasing an additional 12,686 shares during the period. Institutional investors own 95.00% of the company’s stock.

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.