Perficient (PRFT) Stock Rating Upgraded by ValuEngine
ValuEngine upgraded shares of Perficient (NASDAQ:PRFT) from a hold rating to a buy rating in a research note published on Thursday.
A number of other research analysts have also issued reports on PRFT. Maxim Group restated a buy rating and set a $22.00 price target (up previously from $20.00) on shares of Perficient in a research note on Thursday, November 2nd. BidaskClub upgraded shares of Perficient from a hold rating to a buy rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded shares of Perficient from a hold rating to a buy rating and set a $21.00 price target on the stock in a research note on Thursday, January 4th. TheStreet upgraded shares of Perficient from a c+ rating to a b- rating in a research note on Friday, January 26th. Finally, Needham & Company LLC restated a buy rating and set a $25.00 price target on shares of Perficient in a research note on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Perficient presently has a consensus rating of Buy and a consensus price target of $23.33.
Perficient (PRFT) opened at $22.02 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 2.11. Perficient has a 52 week low of $16.20 and a 52 week high of $22.10. The stock has a market cap of $766.68, a P/E ratio of 40.04 and a beta of 0.80.
Perficient declared that its Board of Directors has initiated a share buyback plan on Thursday, March 1st that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the digital transformation consultancy to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Perficient in the 3rd quarter valued at $118,000. Bank of Montreal Can boosted its holdings in shares of Perficient by 3,261.0% in the 4th quarter. Bank of Montreal Can now owns 7,159 shares of the digital transformation consultancy’s stock valued at $136,000 after acquiring an additional 6,946 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Perficient by 412.9% in the 3rd quarter. Sei Investments Co. now owns 8,873 shares of the digital transformation consultancy’s stock valued at $175,000 after acquiring an additional 7,143 shares during the last quarter. KBC Group NV boosted its holdings in shares of Perficient by 152.7% in the 3rd quarter. KBC Group NV now owns 10,275 shares of the digital transformation consultancy’s stock valued at $202,000 after acquiring an additional 6,209 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Perficient by 47.7% in the 3rd quarter. Victory Capital Management Inc. now owns 11,923 shares of the digital transformation consultancy’s stock valued at $235,000 after acquiring an additional 3,853 shares during the last quarter. 79.42% of the stock is currently owned by institutional investors and hedge funds.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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