Perficient, Inc. (PRFT) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Perficient, Inc. (NASDAQ:PRFT) from a hold rating to a buy rating in a research report report published on Saturday, June 17th. They currently have $20.00 price objective on the information technology services provider’s stock.
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. “
Several other research analysts also recently commented on the company. Needham & Company LLC raised their price objective on Perficient from $18.00 to $21.00 and gave the stock a buy rating in a research note on Wednesday, March 1st. TheStreet downgraded Perficient from a b- rating to a c rating in a research note on Tuesday, February 28th. Finally, Maxim Group set a $20.00 price objective on Perficient and gave the stock a buy rating in a research note on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $20.33.
Perficient (NASDAQ:PRFT) traded down 0.54% on Friday, reaching $18.53. The company’s stock had a trading volume of 128,024 shares. The stock has a 50-day moving average of $17.37 and a 200-day moving average of $17.64. Perficient has a one year low of $14.15 and a one year high of $22.66. The stock has a market cap of $663.10 million, a P/E ratio of 35.63 and a beta of 0.87.
Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Thursday, May 4th. The information technology services provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. Perficient had a return on equity of 7.33% and a net margin of 3.75%. The firm had revenue of $111.02 million for the quarter, compared to the consensus estimate of $114.23 million. During the same quarter last year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, analysts predict that Perficient will post $1.21 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Perficient during the fourth quarter valued at about $10,850,000. Wellington Management Group LLP boosted its stake in Perficient by 16.2% in the first quarter. Wellington Management Group LLP now owns 1,815,360 shares of the information technology services provider’s stock valued at $31,514,000 after buying an additional 253,499 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Perficient during the fourth quarter valued at about $2,958,000. Investment Counselors of Maryland LLC boosted its stake in Perficient by 14.4% in the first quarter. Investment Counselors of Maryland LLC now owns 1,059,205 shares of the information technology services provider’s stock valued at $18,388,000 after buying an additional 133,200 shares in the last quarter. Finally, FMR LLC boosted its stake in Perficient by 2.8% in the fourth quarter. FMR LLC now owns 4,870,729 shares of the information technology services provider’s stock valued at $85,189,000 after buying an additional 133,038 shares in the last quarter. Hedge funds and other institutional investors own 77.19% of the company’s stock.
Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.
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