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

StockNews.com started coverage on shares of Perficient (NASDAQ:PRFT) in a report issued on Friday morning. The firm issued a sell rating on the digital transformation consultancy’s stock.

Perficient Stock Performance

Shares of PRFT opened at $75.96 on Friday. The company has a 50-day simple moving average of $75.81 and a 200-day simple moving average of $74.66. 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 company has a market capitalization of $2.67 billion, a PE ratio of 32.46, a P/E/G ratio of 2.24 and a beta of 1.63. Perficient has a 52-week low of $42.51 and a 52-week high of $76.01.

Hedge Funds Weigh In On Perficient

A number of large investors have recently made changes to their positions in PRFT. Glazer Capital LLC increased its holdings in shares of Perficient by 257.8% in the 3rd quarter. Glazer Capital LLC now owns 1,707,040 shares of the digital transformation consultancy’s stock valued at $128,847,000 after purchasing an additional 1,229,890 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in shares of Perficient in the 2nd quarter valued at about $32,541,000. Millennium Management LLC increased its holdings in shares of Perficient by 1,044.3% in the 2nd quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock valued at $35,577,000 after purchasing an additional 434,115 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Perficient in the 2nd quarter valued at about $22,968,000. Finally, Pentwater Capital Management LP purchased a new position in Perficient during the 2nd quarter valued at about $22,437,000. Hedge funds and other 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.