StockNews.com Initiates Coverage on Perficient (NASDAQ:PRFT)

StockNews.com assumed coverage on shares of Perficient (NASDAQ:PRFT) in a report published on Friday. The firm issued a sell rating on the digital transformation consultancy’s stock.

Perficient Price Performance

PRFT remained flat at $75.96 during trading on Friday. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.70. Perficient has a 12 month low of $42.51 and a 12 month high of $76.01. The business has a fifty day simple moving average of $75.81 and a two-hundred day simple moving average of $74.28. The company has a market cap of $2.67 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.24 and a beta of 1.63.

Institutional Trading of Perficient

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Perficient by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,341,454 shares of the digital transformation consultancy’s stock worth $244,380,000 after acquiring an additional 50,313 shares during the last quarter. Glazer Capital LLC boosted its stake in Perficient by 257.8% during the third quarter. Glazer Capital LLC now owns 1,707,040 shares of the digital transformation consultancy’s stock worth $128,847,000 after buying an additional 1,229,890 shares during the last quarter. Geode Capital Management LLC boosted its stake in Perficient by 0.6% during the third quarter. Geode Capital Management LLC now owns 817,912 shares of the digital transformation consultancy’s stock worth $61,747,000 after buying an additional 4,605 shares during the last quarter. Millennium Management LLC boosted its stake in Perficient by 1,044.3% during the second quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock worth $35,577,000 after buying an additional 434,115 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Perficient by 45.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 447,988 shares of the digital transformation consultancy’s stock worth $33,814,000 after buying an additional 140,888 shares during the last quarter. 95.00% of the stock is owned by institutional investors and hedge funds.

Perficient Company Profile

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, and organizational change management; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolios.