Perficient Inc. (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 Thursday.
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. “
Separately, Sidoti began coverage on shares of Perficient in a research note on Friday, June 24th. They issued a “buy” rating and a $27.00 price objective for the company.
Perficient (NASDAQ:PRFT) opened at 19.87 on Thursday. Perficient has a one year low of $15.46 and a one year high of $22.66. The firm has a market capitalization of $717.37 million, a price-to-earnings ratio of 26.56 and a beta of 1.24. The stock has a 50 day moving average of $19.98 and a 200 day moving average of $20.64.
Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Perficient had a net margin of 5.20% and a return on equity of 9.65%. The company earned $124.40 million during the quarter, compared to analyst estimates of $124.88 million. During the same quarter last year, the business earned $0.25 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Analysts forecast that Perficient will post $1.29 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of Perficient by 21.6% in the second quarter. FMR LLC now owns 4,364,120 shares of the company’s stock worth $88,635,000 after buying an additional 775,820 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Perficient during the second quarter worth about $7,796,000. Kennedy Capital Management Inc. boosted its position in shares of Perficient by 22.0% in the first quarter. Kennedy Capital Management Inc. now owns 1,008,949 shares of the company’s stock worth $21,914,000 after buying an additional 181,762 shares during the last quarter. Granahan Investment Management Inc. MA boosted its position in shares of Perficient by 13.2% in the first quarter. Granahan Investment Management Inc. MA now owns 1,073,670 shares of the company’s stock worth $23,320,000 after buying an additional 125,600 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Perficient by 5.1% in the second quarter. Vanguard Group Inc. now owns 1,620,200 shares of the company’s stock worth $32,907,000 after buying an additional 78,188 shares during the last quarter. Institutional investors own 78.61% of the company’s stock.
Perficient, Inc is an information technology and management consulting firm. The Company designs, builds and delivers business-driven technology solutions using third-party software products. Its solutions include big data and analytics, technology platform implementations, commerce, enterprise content management, portals and collaboration, management consulting, custom applications, business integration, content management (CM), business process management (BPM), and customer relationship management (CRM), among others.