StockNews.com Begins Coverage on Perficient (NASDAQ:PRFT)

StockNews.com assumed coverage on shares of Perficient (NASDAQ:PRFT) in a research note published on Monday morning. The firm issued a sell rating on the digital transformation consultancy’s stock.

Perficient Stock Performance

NASDAQ:PRFT opened at $75.96 on Monday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.63. The business has a 50 day moving average of $75.44 and a 200 day moving average of $70.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.16 and a quick ratio of 4.16. Perficient has a 1-year low of $42.51 and a 1-year high of $76.01.

Perficient (NASDAQ:PRFT) last posted 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). Perficient had a return on equity of 18.39% and a net margin of 8.48%. The company had revenue of $222.82 million for the quarter, compared to the consensus estimate of $223.58 million. On average, sell-side analysts predict that Perficient will post 2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Perficient

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Perficient by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock valued at $244,380,000 after purchasing an additional 50,313 shares during the period. Wellington Management Group LLP increased its position in shares of Perficient by 26.2% during the fourth quarter. Wellington Management Group LLP now owns 1,945,667 shares of the digital transformation consultancy’s stock valued at $128,064,000 after buying an additional 404,154 shares during the period. Congress Asset Management Co. MA raised its stake in Perficient by 5.3% in the first quarter. Congress Asset Management Co. MA now owns 1,401,150 shares of the digital transformation consultancy’s stock worth $78,871,000 after buying an additional 71,004 shares in the last quarter. Glazer Capital LLC purchased a new stake in Perficient in the second quarter worth about $35,686,000. Finally, Millennium Management LLC boosted its position in Perficient by 1,044.3% during the 2nd quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock valued at $35,577,000 after acquiring an additional 434,115 shares in the last quarter. 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.