Perficient (NASDAQ:PRFT) Reaches New 12-Month High at $75.75

Shares of Perficient, Inc. (NASDAQ:PRFT) hit a new 52-week high on Thursday . The stock traded as high as $75.75 and last traded at $75.75, with a volume of 199 shares trading hands. The stock had previously closed at $75.48.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Perficient in a report on Friday, September 20th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $70.43.

Perficient Stock Performance

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 firm has a fifty day moving average of $75.21 and a 200-day moving average of $68.44. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 1.90 and a beta of 1.64.

Perficient (NASDAQ:PRFT) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $223.58 million. As a group, sell-side analysts anticipate that Perficient, Inc. will post 3.31 EPS for the current year.

Institutional Investors Weigh In On Perficient

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in Perficient by 36.8% in the 1st quarter. BNP Paribas Financial Markets now owns 34,266 shares of the digital transformation consultancy’s stock worth $1,929,000 after acquiring an additional 9,222 shares during the period. UniSuper Management Pty Ltd purchased a new stake in shares of Perficient in the first quarter valued at $463,000. Confluence Investment Management LLC purchased a new stake in shares of Perficient in the first quarter valued at $2,886,000. Norden Group LLC increased its stake in Perficient by 2,123.4% in the first quarter. Norden Group LLC now owns 97,695 shares of the digital transformation consultancy’s stock valued at $5,499,000 after purchasing an additional 93,301 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in Perficient by 3.8% in the fourth quarter. Schroder Investment Management Group now owns 345,875 shares of the digital transformation consultancy’s stock valued at $22,765,000 after purchasing an additional 12,686 shares during the last quarter. 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.