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

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

Perficient Price Performance

Shares of Perficient stock opened at $75.96 on Wednesday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 2.24 and a beta of 1.63. 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 52-week low of $42.51 and a 52-week high of $76.01. The stock has a 50-day simple moving average of $75.65 and a 200-day simple moving average of $72.08.

Perficient (NASDAQ:PRFT) last announced 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). The firm had revenue of $222.82 million for the quarter, compared to analyst estimates of $223.58 million. Perficient had a net margin of 8.48% and a return on equity of 18.39%. On average, equities research analysts expect that Perficient will post 2.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Perficient

Several institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in Perficient by 9.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,913 shares of the digital transformation consultancy’s stock worth $143,000 after purchasing an additional 165 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in Perficient by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 30,613 shares of the digital transformation consultancy’s stock worth $2,290,000 after purchasing an additional 181 shares during the last quarter. Arizona State Retirement System lifted its holdings in Perficient by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 9,786 shares of the digital transformation consultancy’s stock worth $732,000 after purchasing an additional 230 shares during the last quarter. CWM LLC lifted its holdings in Perficient by 67.7% in the 2nd quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock worth $43,000 after purchasing an additional 233 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Perficient by 4.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 7,433 shares of the digital transformation consultancy’s stock worth $418,000 after purchasing an additional 300 shares during the last quarter. 95.00% of the stock is currently owned by institutional investors and hedge funds.

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.