Perficient (NASDAQ:PRFT) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Perficient (NASDAQ:PRFT) from a buy rating to a strong-buy rating in a report issued on Saturday, BidAskClub reports.

A number of other brokerages also recently commented on PRFT. Zacks Investment Research upgraded Perficient from a hold rating to a buy rating and set a $41.00 price objective for the company in a research report on Friday, October 4th. ValuEngine downgraded Perficient from a buy rating to a hold rating in a research report on Wednesday, October 2nd. William Blair started coverage on Perficient in a research report on Monday, September 9th. They set an outperform rating for the company. Maxim Group reiterated a buy rating and set a $50.00 price objective on shares of Perficient in a research report on Friday, November 8th. Finally, Barrington Research reiterated a buy rating and set a $44.00 price objective on shares of Perficient in a research report on Thursday, September 12th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $41.83.

NASDAQ PRFT traded up $0.74 on Friday, reaching $42.34. 306,972 shares of the stock traded hands, compared to its average volume of 286,390. The firm’s fifty day simple moving average is $38.53 and its 200 day simple moving average is $35.44. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 34.99, a P/E/G ratio of 2.13 and a beta of 0.79. Perficient has a 12 month low of $20.92 and a 12 month high of $42.66.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, November 7th. The digital transformation consultancy reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. Perficient had a return on equity of 13.21% and a net margin of 5.94%. The company had revenue of $144.68 million during the quarter, compared to the consensus estimate of $143.17 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities research analysts forecast that Perficient will post 1.62 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of Perficient by 1,766.7% in the third quarter. CWM LLC now owns 672 shares of the digital transformation consultancy’s stock valued at $26,000 after purchasing an additional 636 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Perficient by 187.3% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,586 shares of the digital transformation consultancy’s stock valued at $54,000 after purchasing an additional 1,034 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Perficient by 84.9% in the second quarter. Meeder Asset Management Inc. now owns 2,209 shares of the digital transformation consultancy’s stock valued at $76,000 after purchasing an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Perficient in the second quarter valued at $101,000. Finally, Advisor Group Inc. lifted its holdings in shares of Perficient by 397.6% in the second quarter. Advisor Group Inc. now owns 4,339 shares of the digital transformation consultancy’s stock valued at $149,000 after purchasing an additional 3,467 shares in the last quarter. Institutional investors own 90.12% 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, commerce, content management, 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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Analyst Recommendations for Perficient (NASDAQ:PRFT)

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