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 assumed coverage on shares of Perficient in a research note on Friday, June 24th. They set a “buy” rating and a $27.00 price objective for the company.
Shares of Perficient (NASDAQ:PRFT) opened at 19.53 on Thursday. Perficient has a one year low of $15.46 and a one year high of $22.66. The firm has a market cap of $705.09 million, a PE ratio of 26.11 and a beta of 1.24. The company has a 50-day moving average of $19.97 and a 200 day moving average of $20.63.
Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.28 EPS for the quarter, missing the Zacks’ 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 had revenue of $124.40 million for the quarter, compared to analyst estimates of $124.88 million. During the same period in the prior year, the company earned $0.25 EPS. The company’s revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts expect that Perficient will post $1.29 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its stake in Perficient by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,931 shares of the company’s stock valued at $100,000 after buying an additional 596 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Perficient by 290.6% in the second quarter. Advisors Asset Management Inc. now owns 5,593 shares of the company’s stock valued at $114,000 after buying an additional 4,161 shares in the last quarter. Victory Capital Management Inc. raised its stake in Perficient by 35.9% in the second quarter. Victory Capital Management Inc. now owns 6,200 shares of the company’s stock valued at $126,000 after buying an additional 1,637 shares in the last quarter. BlackRock Inc. raised its stake in Perficient by 179.4% in the second quarter. BlackRock Inc. now owns 6,471 shares of the company’s stock valued at $132,000 after buying an additional 4,155 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in Perficient during the second quarter valued at about $143,000. Institutional investors own 78.61% of the company’s stock.
Perficient Company Profile
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.
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