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

Perficient, Inc. (NASDAQ:PRFT) has earned an average rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $70.43.

Separately, StockNews.com assumed coverage on Perficient in a report on Monday. They issued a “sell” rating on the stock.

Hedge Funds Weigh In On Perficient

Institutional investors have recently added to or reduced their stakes in the stock. Glazer Capital LLC acquired a new position in shares of Perficient in the 2nd quarter valued at $35,686,000. Alpine Associates Management Inc. acquired a new position in Perficient in the second quarter valued at approximately $32,541,000. Millennium Management LLC grew its position 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 buying an additional 434,115 shares during the last quarter. 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 worth $128,064,000 after purchasing an additional 404,154 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd acquired a new position in Perficient during the fourth quarter worth approximately $25,474,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Perficient Stock Performance

Shares of NASDAQ:PRFT opened at $75.96 on Thursday. Perficient has a 52-week low of $42.51 and a 52-week high of $76.01. 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 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. The business has a 50-day moving average price of $75.40 and a 200-day moving average price of $70.06.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data 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 net margin of 8.48% and a return on equity of 18.39%. The company had revenue of $222.82 million during the quarter, compared to analyst estimates of $223.58 million. Equities analysts predict that Perficient will post 2.83 EPS for the current year.

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.