Perficient Inc. (NASDAQ:PRFT) shares reached a new 52-week high on Thursday . The company traded as high as $22.53 and last traded at $22.47, with a volume of 53,583 shares trading hands. The stock had previously closed at $22.43.

A number of research firms have recently weighed in on PRFT. Sidoti began coverage on Perficient in a research report on Friday, June 24th. They set a “buy” rating and a $27.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $24.00 target price on shares of Perficient in a research note on Friday, April 1st. Finally, Zacks Investment Research raised Perficient from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Thursday, May 12th.

The firm has a market cap of $802.23 million and a P/E ratio of 31.34. The stock’s 50 day moving average is $21.11 and its 200 day moving average is $20.05.

Perficient (NASDAQ:PRFT) last announced its earnings results on Thursday, May 5th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $123.80 million for the quarter, compared to analyst estimates of $122.79 million. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. On average, analysts forecast that Perficient Inc. will post $1.32 earnings per share for the current fiscal year.

Several hedge funds and institutional investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC raised its position in shares of Perficient by 163.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 217,115 shares of the company’s stock worth $3,717,000 after buying an additional 134,815 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Perficient during the fourth quarter worth $1,965,000. First Trust Advisors LP raised its position in shares of Perficient by 29.4% in the fourth quarter. First Trust Advisors LP now owns 111,094 shares of the company’s stock worth $1,902,000 after buying an additional 25,255 shares in the last quarter. Monarch Partners Asset Management LLC raised its position in shares of Perficient by 10.6% in the fourth quarter. Monarch Partners Asset Management LLC now owns 107,575 shares of the company’s stock worth $1,842,000 after buying an additional 10,300 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Perficient by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 65,648 shares of the company’s stock worth $1,124,000 after buying an additional 1,132 shares in the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.