Perficient, Inc. (NASDAQ:PRFT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $21.00 target price on the information technology services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.01% from the company’s current price.
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. “
A number of other equities analysts also recently weighed in on the stock. BidaskClub downgraded shares of Perficient from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Maxim Group set a $20.00 price objective on shares of Perficient and gave the stock a “buy” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.67.
Perficient (NASDAQ PRFT) opened at 18.42 on Wednesday. The firm has a market cap of $646.86 million, a PE ratio of 44.71 and a beta of 0.91. Perficient has a one year low of $14.15 and a one year high of $20.33. The company has a 50-day moving average price of $17.98 and a 200-day moving average price of $17.67.
Perficient (NASDAQ:PRFT) last posted its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $0.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.29. Perficient had a net margin of 3.08% and a return on equity of 7.42%. The business had revenue of $117.00 million for the quarter, compared to the consensus estimate of $119.21 million. During the same period in the prior year, the business posted $0.28 earnings per share. Perficient’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities analysts predict that Perficient will post $1.23 earnings per share for the current fiscal year.
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In other Perficient news, Director Ralph C. Derrickson sold 7,900 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $17.64, for a total transaction of $139,356.00. Following the completion of the sale, the director now directly owns 32,747 shares in the company, valued at $577,657.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Capstone Asset Management Co. bought a new stake in Perficient during the first quarter valued at about $192,000. Morgan Stanley boosted its holdings in Perficient by 15.6% during the first quarter. Morgan Stanley now owns 225,480 shares of the information technology services provider’s stock valued at $3,916,000 after acquiring an additional 30,353 shares during the period. Bank of New York Mellon Corp boosted its holdings in Perficient by 4.1% during the first quarter. Bank of New York Mellon Corp now owns 480,131 shares of the information technology services provider’s stock valued at $8,335,000 after acquiring an additional 18,893 shares during the period. Stevens Capital Management LP bought a new stake in Perficient during the first quarter valued at about $236,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Perficient by 11.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 169,581 shares of the information technology services provider’s stock valued at $2,944,000 after acquiring an additional 17,692 shares during the period. Institutional investors own 75.08% of the company’s stock.
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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