Perficient, Inc. (PRFT) Stock Rating Lowered by Zacks Investment Research
Perficient, Inc. (NASDAQ:PRFT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
A number of other equities research analysts also recently commented on PRFT. Maxim Group set a $20.00 target price on Perficient and gave the stock a “buy” rating in a research report on Saturday, June 24th. BidaskClub upgraded Perficient from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Perficient currently has a consensus rating of “Buy” and an average price target of $20.33.
Perficient (NASDAQ:PRFT) opened at 18.39 on Tuesday. Perficient has a one year low of $14.15 and a one year high of $20.33. The stock has a market capitalization of $645.80 million, a PE ratio of 44.64 and a beta of 0.91. The company’s 50 day moving average price is $17.97 and its 200-day moving average price is $17.66.
Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, August 3rd. The information technology services provider reported $0.29 EPS for the quarter, hitting analysts’ consensus estimates of $0.29. The company had revenue of $117 million for the quarter, compared to the consensus estimate of $119.21 million. Perficient had a return on equity of 7.42% and a net margin of 3.08%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 earnings per share. Analysts expect that Perficient will post $1.23 earnings per share for the current year.
In other Perficient news, Director Ralph C. Derrickson sold 7,900 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $17.64, for a total transaction of $139,356.00. Following the sale, the director now directly owns 32,747 shares in the company, valued at $577,657.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.70% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Capstone Asset Management Co. purchased a new stake in Perficient during the first quarter valued at approximately $192,000. Morgan Stanley raised its position in Perficient by 15.6% during the first quarter. Morgan Stanley now owns 225,480 shares of the information technology services provider’s stock valued at $3,916,000 after purchasing an additional 30,353 shares during the period. Bank of New York Mellon Corp raised its position in Perficient by 4.1% during the first quarter. Bank of New York Mellon Corp now owns 480,131 shares of the information technology services provider’s stock valued at $8,335,000 after purchasing an additional 18,893 shares during the period. Stevens Capital Management LP purchased a new stake in Perficient during the first quarter valued at approximately $236,000. Finally, Schwab Charles Investment Management Inc. raised its position in Perficient by 11.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 169,581 shares of the information technology services provider’s stock valued at $2,944,000 after purchasing an additional 17,692 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.
Perficient Company Profile
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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