Perficient (PRFT) Stock Rating Lowered by Zacks Investment Research

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Perficient (NASDAQ:PRFT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

According to Zacks, “Perficient is the leading digital transformation consulting firm with unparalleled information technology, management consulting, and creative capabilities, Perficient and its Perficient Digital agency deliver vision, execution, and value with outstanding digital experience, business optimization, and industry solutions. Their work enables clients to improve productivity and competitiveness; grow and strengthen relationships with customers, suppliers, and partners; and reduce costs. Its solutions include big data and analytics, technology platform implementations, commerce, enterprise content management, portals and collaboration, management consulting, custom applications, business integration, business process management, and customer relationship management, among others. “

A number of other research analysts have also weighed in on PRFT. BidaskClub raised shares of Perficient from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Perficient in a report on Friday, July 13th. Barrington Research assumed coverage on shares of Perficient in a report on Wednesday, October 10th. They issued an “outperform” rating and a $31.00 target price for the company. SunTrust Banks raised their target price on shares of Perficient to $33.00 and gave the company a “buy” rating in a report on Friday, September 14th. Finally, Maxim Group initiated coverage on shares of Perficient in a report on Tuesday, October 2nd. They issued a “buy” rating and a $34.00 target price for the company. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. Perficient currently has a consensus rating of “Hold” and an average price target of $31.00.

PRFT stock opened at $25.69 on Thursday. Perficient has a fifty-two week low of $17.86 and a fifty-two week high of $31.09. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $853.77 million, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 1.57 and a beta of 0.87.

Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, November 1st. The digital transformation consultancy reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.11. Perficient had a net margin of 4.70% and a return on equity of 10.69%. The firm had revenue of $123.90 million during the quarter, compared to analyst estimates of $124.91 million. During the same period last year, the firm posted $0.34 earnings per share. Perficient’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts predict that Perficient will post 1.17 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlueMountain Capital Management LLC purchased a new position in Perficient during the second quarter worth $179,000. Engineers Gate Manager LP purchased a new position in Perficient during the third quarter worth $205,000. Piedmont Investment Advisors LLC purchased a new position in Perficient during the second quarter worth $215,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Perficient during the third quarter worth $221,000. Finally, Aperio Group LLC purchased a new position in Perficient during the second quarter worth $243,000. 83.05% of the stock is owned by institutional investors.

About Perficient

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

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