Perficient (NASDAQ:PRFT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
A number of other equities analysts also recently issued reports on PRFT. BidaskClub downgraded shares of Perficient from a “buy” rating to a “hold” rating in a report on Thursday, September 20th. SunTrust Banks raised their price objective on shares of Perficient to $33.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Barrington Research assumed coverage on shares of Perficient in a report on Wednesday, October 10th. They issued an “outperform” rating and a $31.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Perficient in a report on Tuesday, November 20th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Maxim Group began coverage on shares of Perficient in a report on Tuesday, October 2nd. They set a “buy” rating and a $34.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $30.83.
Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Thursday, November 1st. The digital transformation consultancy reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.11. The company had revenue of $123.90 million for the quarter, compared to the consensus estimate of $124.91 million. Perficient had a net margin of 4.70% and a return on equity of 10.69%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. On average, equities research analysts predict that Perficient will post 1.17 earnings per share for the current year.
In other news, Director James R. Kackley purchased 1,000 shares of the stock in a transaction on Tuesday, November 13th. The shares were acquired at an average price of $25.16 per share, with a total value of $25,160.00. Following the completion of the acquisition, the director now directly owns 41,019 shares of the company’s stock, valued at $1,032,038.04. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.70% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of PRFT. BlackRock Inc. lifted its holdings in Perficient by 9.9% during the second quarter. BlackRock Inc. now owns 4,927,517 shares of the digital transformation consultancy’s stock valued at $129,937,000 after purchasing an additional 443,431 shares in the last quarter. Rothschild Asset Management Inc. purchased a new position in Perficient during the second quarter valued at approximately $8,104,000. KAMES CAPITAL plc purchased a new position in Perficient during the third quarter valued at approximately $6,839,000. Systematic Financial Management LP lifted its holdings in Perficient by 388.7% during the second quarter. Systematic Financial Management LP now owns 302,431 shares of the digital transformation consultancy’s stock valued at $7,975,000 after purchasing an additional 240,541 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its holdings in Perficient by 77,304.3% during the second quarter. Federated Investors Inc. PA now owns 233,761 shares of the digital transformation consultancy’s stock valued at $6,164,000 after purchasing an additional 233,459 shares in the last quarter. 86.29% of the stock is currently owned by institutional investors and hedge funds.
Perficient Company Profile
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.
Recommended Story: What are no-load funds?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Perficient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perficient and related companies with MarketBeat.com's FREE daily email newsletter.