Perficient (NASDAQ:PRFT) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday, BidAskClub reports.
Several other equities research analysts have also recently issued reports on the company. Barrington Research reiterated a “buy” rating and issued a $44.00 price target on shares of Perficient in a research note on Thursday, September 12th. ValuEngine cut Perficient from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded Perficient from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Friday, October 4th. National Securities initiated coverage on Perficient in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $46.00 price target for the company. Finally, Maxim Group reiterated a “buy” rating and issued a $50.00 price target on shares of Perficient in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $41.83.
Shares of PRFT stock traded up $0.74 during trading on Friday, hitting $42.34. The company had a trading volume of 306,972 shares, compared to its average volume of 286,390. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.69 and a current ratio of 2.69. The firm has a market capitalization of $1.32 billion, a P/E ratio of 34.99, a price-to-earnings-growth ratio of 2.13 and a beta of 0.79. The stock’s 50-day moving average price is $38.53 and its 200 day moving average price is $35.44. Perficient has a one year low of $20.92 and a one year high of $42.66.
Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Thursday, November 7th. The digital transformation consultancy reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.04. The business had revenue of $144.68 million during the quarter, compared to analysts’ expectations of $143.17 million. Perficient had a return on equity of 13.21% and a net margin of 5.94%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. On average, research analysts anticipate that Perficient will post 1.62 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lisanti Capital Growth LLC bought a new stake in Perficient during the third quarter worth $5,409,000. Boston Advisors LLC lifted its stake in Perficient by 32.5% during the third quarter. Boston Advisors LLC now owns 45,359 shares of the digital transformation consultancy’s stock worth $1,750,000 after purchasing an additional 11,134 shares during the last quarter. Mackay Shields LLC lifted its stake in Perficient by 7.8% during the third quarter. Mackay Shields LLC now owns 87,261 shares of the digital transformation consultancy’s stock worth $3,366,000 after purchasing an additional 6,300 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in Perficient during the third quarter worth $5,088,000. Finally, Emerald Advisers LLC bought a new stake in Perficient during the third quarter worth $4,728,000. Hedge funds and other institutional investors own 90.12% of the company’s stock.
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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