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

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

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Perficient in a research note on Monday, May 6th. JPMorgan Chase & Co. lowered their price objective on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Alliance Global Partners reissued a “neutral” rating on shares of Perficient in a report on Tuesday, May 7th. Barrington Research reaffirmed a “market perform” rating on shares of Perficient in a research note on Tuesday, May 7th. Finally, William Blair reissued a “market perform” rating on shares of Perficient in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $70.43.

Perficient Trading Down 0.0 %

NASDAQ:PRFT opened at $75.02 on Monday. Perficient has a 1 year low of $42.51 and a 1 year high of $75.50. The business has a fifty day moving average of $74.88 and a 200-day moving average of $67.03. 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 $2.64 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 1.89 and a beta of 1.62.

Hedge Funds Weigh In On Perficient

A number of hedge funds and other institutional investors have recently modified their holdings of PRFT. GAMMA Investing LLC purchased a new stake in Perficient during the fourth quarter valued at about $28,000. Fidelis Capital Partners LLC purchased a new stake in shares of Perficient in the 1st quarter valued at approximately $25,000. 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 worth $35,000 after purchasing an additional 224 shares during the period. CWM LLC grew its position in Perficient by 67.7% during 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 in the last quarter. Finally, Principal Securities Inc. acquired a new stake in Perficient during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 95.00% of the company’s stock.

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.