Perficient Inc. (PRFT) Upgraded to “Hold” by Zacks Investment Research
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 initiated coverage on shares of Perficient in a report on Friday, June 24th. They set a buy rating and a $27.00 target price on the stock.
Perficient (NASDAQ:PRFT) traded down 1.837% during trading on Thursday, reaching $19.505. 15,216 shares of the company’s stock traded hands. The stock has a market capitalization of $704.19 million, a P/E ratio of 26.076 and a beta of 1.24. The stock has a 50-day moving average price of $19.98 and a 200 day moving average price of $20.63. Perficient has a 1-year low of $15.46 and a 1-year high of $22.66.
Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, August 4th. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The business had revenue of $124.40 million for the quarter, compared to analyst estimates of $124.88 million. Perficient had a net margin of 5.20% and a return on equity of 9.65%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. Equities research analysts expect that Perficient will post $1.29 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC purchased a new stake in Perficient during the second quarter valued at about $143,000. Royal Bank of Canada increased its stake in Perficient by 9.9% in the second quarter. Royal Bank of Canada now owns 841,224 shares of the company’s stock valued at $17,085,000 after buying an additional 75,693 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Perficient by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 126,281 shares of the company’s stock valued at $2,565,000 after buying an additional 2,478 shares during the period. Stifel Financial Corp increased its stake in Perficient by 7.9% in the second quarter. Stifel Financial Corp now owns 280,613 shares of the company’s stock valued at $5,699,000 after buying an additional 20,459 shares during the period. Finally, Arizona State Retirement System increased its stake in Perficient by 1.6% in the second quarter. Arizona State Retirement System now owns 18,725 shares of the company’s stock valued at $380,000 after buying an additional 300 shares during the period. 78.61% of the stock is currently owned by hedge funds and other institutional investors.
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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