Maxim Group set a $20.00 price objective on Perficient, Inc. (NASDAQ:PRFT) in a research report released on Thursday morning. The firm currently has a buy rating on the information technology services provider’s stock.

Other research analysts have also issued reports about the company. Zacks Investment Research upgraded Perficient from a strong sell rating to a hold rating in a research report on Wednesday, May 3rd. BidaskClub lowered Perficient from a hold rating to a sell rating in a research report on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $20.33.

Shares of Perficient (NASDAQ:PRFT) traded up 2.26% during mid-day trading on Thursday, hitting $17.64. The stock had a trading volume of 129,126 shares. The stock has a market cap of $621.76 million, a price-to-earnings ratio of 35.21 and a beta of 0.86. Perficient has a 12-month low of $14.15 and a 12-month high of $22.27. The firm’s 50-day moving average price is $18.31 and its 200 day moving average price is $17.69.

Perficient (NASDAQ:PRFT) last released its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.29 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.29. The firm had revenue of $117 million during the quarter, compared to analysts’ expectations of $119.21 million. Perficient had a return on equity of 7.42% and a net margin of 3.08%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.28 EPS. Equities analysts forecast that Perficient will post $1.22 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund raised its position in shares of Perficient by 0.4% in the second quarter. Texas Permanent School Fund now owns 25,735 shares of the information technology services provider’s stock worth $480,000 after buying an additional 91 shares during the last quarter. Thrivent Financial For Lutherans raised its position in shares of Perficient by 1.9% in the first quarter. Thrivent Financial For Lutherans now owns 19,910 shares of the information technology services provider’s stock worth $346,000 after buying an additional 380 shares during the last quarter. Mason Street Advisors LLC raised its position in shares of Perficient by 5.1% in the first quarter. Mason Street Advisors LLC now owns 8,282 shares of the information technology services provider’s stock worth $144,000 after buying an additional 403 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Perficient by 10.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,521 shares of the information technology services provider’s stock worth $113,000 after buying an additional 637 shares during the last quarter. Finally, Anchor Capital Advisors LLC raised its position in shares of Perficient by 1.6% in the second quarter. Anchor Capital Advisors LLC now owns 63,854 shares of the information technology services provider’s stock worth $1,190,000 after buying an additional 990 shares during the last quarter. Hedge funds and other institutional investors own 76.38% 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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