Perficient, Inc. (NASDAQ:PRFT) Short Interest Up 7.7% in October

Perficient, Inc. (NASDAQ:PRFT) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,390,000 shares, a growth of 7.7% from the September 30th total of 2,220,000 shares. Currently, 7.6% of the company’s shares are sold short. Based on an average daily volume of 296,000 shares, the short-interest ratio is presently 8.1 days.

Several institutional investors have recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC purchased a new stake in shares of Perficient in the 3rd quarter valued at approximately $5,409,000. Boston Advisors LLC raised its stake in shares of Perficient by 32.5% in the 3rd quarter. Boston Advisors LLC now owns 45,359 shares of the digital transformation consultancy’s stock valued at $1,750,000 after acquiring an additional 11,134 shares during the period. Mackay Shields LLC raised its stake in shares of Perficient by 7.8% in the 3rd quarter. Mackay Shields LLC now owns 87,261 shares of the digital transformation consultancy’s stock valued at $3,366,000 after acquiring an additional 6,300 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Perficient in the 3rd quarter valued at approximately $5,088,000. Finally, Emerald Advisers LLC purchased a new stake in shares of Perficient in the 3rd quarter valued at approximately $4,728,000. 90.12% of the stock is currently owned by institutional investors and hedge funds.

PRFT has been the topic of a number of analyst reports. ValuEngine downgraded shares of Perficient from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. William Blair initiated coverage on shares of Perficient in a research note on Monday, September 9th. They set an “outperform” rating on the stock. Barrington Research reaffirmed a “buy” rating and set a $44.00 target price on shares of Perficient in a research note on Thursday, September 12th. Maxim Group reaffirmed a “buy” rating and set a $50.00 target price on shares of Perficient in a research note on Friday, November 8th. Finally, National Securities initiated coverage on shares of Perficient in a research note on Tuesday, October 22nd. They set a “buy” rating and a $46.00 target price on the stock. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $41.83.

PRFT stock traded up $1.05 during trading on Monday, reaching $41.60. 443,200 shares of the stock were exchanged, compared to its average volume of 286,297. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average price of $38.53 and a 200-day moving average price of $35.44. Perficient has a 1 year low of $20.92 and a 1 year high of $41.82. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 34.38, a P/E/G ratio of 2.14 and a beta of 0.79.

Perficient (NASDAQ:PRFT) last issued its earnings results on Thursday, November 7th. The digital transformation consultancy reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Perficient had a net margin of 5.94% and a return on equity of 13.21%. The company had revenue of $144.68 million for the quarter, compared to the consensus estimate of $143.17 million. During the same period in the previous year, the firm earned $0.41 earnings per share. Perficient’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, research analysts anticipate that Perficient will post 1.62 EPS for the current year.

Perficient Company Profile

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, commerce, content management, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

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