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

Equities research analysts at StockNews.com started coverage on shares of Perficient (NASDAQ:PRFT) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the digital transformation consultancy’s stock.

Perficient Price Performance

Shares of PRFT stock opened at $75.96 on Tuesday. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70. The company has a 50 day simple moving average of $75.47 and a two-hundred day simple moving average of $70.64. The stock has a market cap of $2.67 billion, a P/E ratio of 32.46, a P/E/G ratio of 2.24 and a beta of 1.63. Perficient has a 12 month low of $42.51 and a 12 month high of $76.01.

Perficient (NASDAQ:PRFT) last released its 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 business had revenue of $222.82 million for the quarter, compared to analysts’ expectations of $223.58 million. Perficient had a return on equity of 18.39% and a net margin of 8.48%. On average, research analysts expect that Perficient will post 2.83 earnings per share for the current year.

Institutional Trading of Perficient

Hedge funds have recently made changes to their positions in the business. Inspire Investing LLC grew its stake in shares of Perficient by 15.9% during the third quarter. Inspire Investing LLC now owns 5,439 shares of the digital transformation consultancy’s stock valued at $411,000 after buying an additional 747 shares during the last quarter. Trium Capital LLP increased its position in shares of Perficient by 920.7% during the third quarter. Trium Capital LLP now owns 193,534 shares of the digital transformation consultancy’s stock worth $14,608,000 after acquiring an additional 174,574 shares during the period. Handelsbanken Fonder AB increased its position in shares of Perficient by 42.2% during the third quarter. Handelsbanken Fonder AB now owns 10,112 shares of the digital transformation consultancy’s stock worth $763,000 after acquiring an additional 3,000 shares during the period. Syquant Capital Sas raised its stake in shares of Perficient by 303.0% during the third quarter. Syquant Capital Sas now owns 16,270 shares of the digital transformation consultancy’s stock valued at $1,229,000 after acquiring an additional 12,233 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Perficient in the second quarter valued at approximately $22,968,000. 95.00% of the stock is currently owned by hedge funds and other 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.