Perficient (PRFT) Stock Rating Lowered by Zacks Investment Research

Perficient (NASDAQ:PRFT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Perficient is the leading digital transformation consulting firm with unparalleled information technology, management consulting, and creative capabilities, Perficient and its Perficient Digital agency deliver vision, execution, and value with outstanding digital experience, business optimization, and industry solutions. Their work enables clients to improve productivity and competitiveness; grow and strengthen relationships with customers, suppliers, and partners; and reduce costs. Its solutions include big data and analytics, technology platform implementations, commerce, enterprise content management, portals and collaboration, management consulting, custom applications, business integration, business process management, and customer relationship management, among others. “

Other analysts also recently issued reports about the company. Maxim Group initiated coverage on Perficient in a report on Tuesday, October 2nd. They issued a “buy” rating and a $34.00 price objective for the company. BidaskClub upgraded Perficient from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. Needham & Company LLC restated a “buy” rating and issued a $30.00 price objective on shares of Perficient in a report on Friday, July 13th. SunTrust Banks lifted their price objective on Perficient to $33.00 and gave the company a “buy” rating in a report on Friday, September 14th. Finally, Barrington Research initiated coverage on Perficient in a report on Wednesday, October 10th. They issued an “outperform” rating and a $31.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.00.

NASDAQ:PRFT opened at $25.69 on Thursday. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 0.34. The firm has a market cap of $853.77 million, a PE ratio of 21.81, a price-to-earnings-growth ratio of 1.57 and a beta of 0.87. Perficient has a twelve month low of $17.86 and a twelve month high of $31.09.

Perficient (NASDAQ:PRFT) last released its quarterly earnings data on Thursday, November 1st. The digital transformation consultancy reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.11. The firm had revenue of $123.90 million during the quarter, compared to the consensus estimate of $124.91 million. Perficient had a return on equity of 10.69% and a net margin of 4.70%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. On average, sell-side analysts anticipate that Perficient will post 1.17 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the business. Trexquant Investment LP bought a new position in Perficient in the third quarter worth about $344,000. BBT Capital Management LLC bought a new position in Perficient in the third quarter worth about $1,084,000. BlackRock Inc. raised its holdings in Perficient by 2.9% in the third quarter. BlackRock Inc. now owns 5,072,288 shares of the digital transformation consultancy’s stock worth $135,176,000 after purchasing an additional 144,771 shares in the last quarter. Seizert Capital Partners LLC raised its holdings in Perficient by 30.2% in the third quarter. Seizert Capital Partners LLC now owns 15,539 shares of the digital transformation consultancy’s stock worth $414,000 after purchasing an additional 3,606 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Perficient by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 444,431 shares of the digital transformation consultancy’s stock worth $11,844,000 after purchasing an additional 13,745 shares in the last quarter. Institutional investors and hedge funds own 83.05% of the company’s stock.

About Perficient

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

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