Perficient (NASDAQ:PRFT) Upgraded at BidaskClub

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.

About Perficient

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.

Recommended Story: Limitations of analyzing profit margin

Analyst Recommendations for Perficient (NASDAQ:PRFT)

Receive News & Ratings for Perficient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perficient and related companies with MarketBeat.com's FREE daily email newsletter.