Perficient Inc. (PRFT) Upgraded by Zacks Investment Research to “Hold”
Perficient Inc. (NASDAQ:PRFT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “PERFICIENT INC helps clients acquire and strengthen customer relationships, reduce costs and empower employees by creating an Enabled Enterprise. Through their Enabled Enterprise solutions, Global 3000 companies can drive dramatic return-on-investment by unlocking the power of their existing enterprise resource planning and legacy systems. “
Separately, Sidoti assumed coverage on shares of Perficient in a research note on Friday, June 24th. They set a “buy” rating and a $27.00 price objective for the company.
Shares of Perficient (NASDAQ:PRFT) opened at 19.87 on Thursday. The stock’s 50 day moving average is $19.98 and its 200 day moving average is $20.64. The company has a market cap of $717.37 million, a P/E ratio of 26.56 and a beta of 1.24. Perficient has a 1-year low of $15.46 and a 1-year high of $22.66.
Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.02. Perficient had a net margin of 5.20% and a return on equity of 9.65%. The business had revenue of $124.40 million for the quarter, compared to analysts’ expectations of $124.88 million. During the same period in the prior year, the company posted $0.25 EPS. The firm’s revenue was up 14.7% on a year-over-year basis. On average, analysts predict that Perficient will post $1.29 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in Perficient by 21.6% in the second quarter. FMR LLC now owns 4,364,120 shares of the company’s stock valued at $88,635,000 after buying an additional 775,820 shares during the period. BlackRock Fund Advisors boosted its stake in Perficient by 3.1% in the second quarter. BlackRock Fund Advisors now owns 2,369,104 shares of the company’s stock valued at $48,117,000 after buying an additional 71,930 shares during the period. Dimensional Fund Advisors LP boosted its stake in Perficient by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,721,923 shares of the company’s stock valued at $34,972,000 after buying an additional 35,225 shares during the period. Vanguard Group Inc. boosted its stake in Perficient by 5.1% in the second quarter. Vanguard Group Inc. now owns 1,620,200 shares of the company’s stock valued at $32,907,000 after buying an additional 78,188 shares during the period. Finally, Skyline Asset Management LP boosted its stake in Perficient by 2.4% in the first quarter. Skyline Asset Management LP now owns 1,153,300 shares of the company’s stock valued at $25,050,000 after buying an additional 26,700 shares during the period. 78.61% of the stock is owned by institutional investors and hedge funds.
Perficient Company Profile
Perficient, Inc is an information technology and management consulting firm. The Company designs, builds and delivers business-driven technology solutions using third-party software products. Its solutions include big data and analytics, technology platform implementations, commerce, enterprise content management, portals and collaboration, management consulting, custom applications, business integration, content management (CM), business process management (BPM), and customer relationship management (CRM), among others.
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