Perficient (NASDAQ:PRFT) Hits New 1-Year High at $75.62

Perficient, Inc. (NASDAQ:PRFT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $75.62 and last traded at $75.54, with a volume of 262008 shares changing hands. The stock had previously closed at $75.49.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Perficient in a research report on Thursday, September 12th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Perficient currently has an average rating of “Hold” and an average price target of $70.43.

Perficient Stock Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.16 and a current ratio of 4.16. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 32.25, a price-to-earnings-growth ratio of 1.90 and a beta of 1.64. The stock’s 50-day simple moving average is $75.15 and its two-hundred day simple moving average is $67.96.

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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $223.58 million. Analysts forecast that Perficient, Inc. will post 3.31 earnings per share for the current year.

Institutional Trading of Perficient

Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its position 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 valued at $143,000 after buying an additional 165 shares during the last quarter. Texas Permanent School Fund Corp raised 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 valued at $2,290,000 after acquiring an additional 181 shares during the period. Parallel Advisors LLC boosted its stake in Perficient by 73.9% in the 4th quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock valued at $35,000 after purchasing an additional 224 shares during the period. Arizona State Retirement System grew its stake in shares of Perficient by 2.4% in the second quarter. Arizona State Retirement System now owns 9,786 shares of the digital transformation consultancy’s stock valued at $732,000 after acquiring an additional 230 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Perficient by 67.7% during the second 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 period. 95.00% of the stock is owned by institutional investors.

About Perficient

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.