Shares of Perficient, Inc. (NASDAQ:PRFT) hit a new 52-week high during trading on Wednesday . The stock traded as high as $43.32 and last traded at $43.23, with a volume of 6102 shares changing hands. The stock had previously closed at $42.37.
A number of research firms recently weighed in on PRFT. Zacks Investment Research raised shares of Perficient from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Friday, October 4th. ValuEngine cut shares of Perficient from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. National Securities started coverage on shares of Perficient in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $46.00 price objective for the company. BidaskClub upgraded shares of Perficient from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 16th. Finally, William Blair assumed coverage on shares of Perficient in a research report on Monday, September 9th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Perficient currently has a consensus rating of “Buy” and a consensus price target of $44.20.
The company has a 50-day simple moving average of $40.77 and a two-hundred day simple moving average of $36.78. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1.38 billion, a PE ratio of 36.36, a PEG ratio of 2.18 and a beta of 0.81.
Perficient (NASDAQ:PRFT) last announced its 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 firm had revenue of $144.68 million during the quarter, compared to analyst estimates of $143.17 million. Perficient had a return on equity of 13.21% and a net margin of 5.94%. The business’s revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. As a group, equities analysts predict that Perficient, Inc. will post 1.65 earnings per share for the current year.
In related news, Director David S. Lundeen sold 8,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.96, for a total transaction of $343,680.00. Following the completion of the transaction, the director now owns 41,707 shares in the company, valued at $1,791,732.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Perficient by 130.9% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 90,505 shares of the digital transformation consultancy’s stock valued at $3,106,000 after acquiring an additional 51,300 shares during the period. Aperio Group LLC increased its position in Perficient by 4.7% in the second quarter. Aperio Group LLC now owns 14,166 shares of the digital transformation consultancy’s stock worth $486,000 after buying an additional 642 shares during the last quarter. Advisor Group Inc. increased its position in Perficient by 397.6% in the second quarter. Advisor Group Inc. now owns 4,339 shares of the digital transformation consultancy’s stock worth $149,000 after buying an additional 3,467 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Perficient by 220.4% in the second quarter. Envestnet Asset Management Inc. now owns 39,524 shares of the digital transformation consultancy’s stock valued at $1,356,000 after buying an additional 27,189 shares during the period. Finally, Icon Advisers Inc. Co. raised its stake in shares of Perficient by 47.7% in the second quarter. Icon Advisers Inc. Co. now owns 61,900 shares of the digital transformation consultancy’s stock valued at $2,124,000 after buying an additional 20,000 shares during the period. 92.82% of the stock is currently owned by institutional investors and hedge funds.
Perficient Company Profile (NASDAQ:PRFT)
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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