Perficient (NASDAQ:PRFT) Coverage Initiated by Analysts at StockNews.com

Posted by Defense World Staff on Aug 19th, 2024

Stock analysts at StockNews.com initiated coverage on shares of Perficient (NASDAQ:PRFT – Get Free Report) in a research note issued on Monday. The brokerage set a “sell” rating on the digital transformation consultancy’s stock.

PRFT has been the topic of several other research reports. William Blair reaffirmed a “market perform” rating on shares of Perficient in a report on Monday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a research note on Monday, May 6th. JPMorgan Chase & Co. cut their price target on Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Alliance Global Partners reaffirmed a “neutral” rating on shares of Perficient in a report on Tuesday, May 7th. Finally, Scotiabank increased their price objective on Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.43.

Read Our Latest Analysis on PRFT

Perficient Price Performance

Shares of NASDAQ PRFT opened at $75.03 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.16 and a quick ratio of 4.16. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 32.06, a price-to-earnings-growth ratio of 1.89 and a beta of 1.62. The stock’s 50-day moving average is $74.85 and its two-hundred day moving average is $66.96. Perficient has a 1-year low of $42.51 and a 1-year high of $75.50.

Hedge Funds Weigh In On Perficient

Hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its stake in Perficient by 9.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,913 shares of the digital transformation consultancy’s stock worth $143,000 after purchasing an additional 165 shares during the period. Texas Permanent School Fund Corp raised its holdings in shares of Perficient by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 30,613 shares of the digital transformation consultancy’s stock valued at $2,290,000 after buying an additional 181 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Perficient by 3.8% during the fourth quarter. Handelsbanken Fonder AB now owns 5,412 shares of the digital transformation consultancy’s stock worth $356,000 after buying an additional 200 shares during the period. Parallel Advisors LLC grew its holdings in shares of Perficient by 73.9% during the fourth quarter. Parallel Advisors LLC now owns 527 shares of the digital transformation consultancy’s stock worth $35,000 after buying an additional 224 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Perficient by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 9,786 shares of the digital transformation consultancy’s stock valued at $732,000 after acquiring an additional 230 shares during the period. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Perficient Company Profile

(Get Free Report)

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, and organizational change management; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolios.

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Analyst Recommendations for Perficient (NASDAQ:PRFT)

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