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

StockNews.com initiated coverage on shares of Perficient (NASDAQ:PRFT) in a research note released on Friday morning. The brokerage issued a sell rating on the digital transformation consultancy’s stock.

Perficient Stock Performance

PRFT stock opened at $75.96 on Friday. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.70. The firm has a market cap of $2.67 billion, a P/E ratio of 32.46, a P/E/G ratio of 2.24 and a beta of 1.63. Perficient has a 1-year low of $42.51 and a 1-year high of $76.01. The business’s 50 day moving average is $75.82 and its 200-day moving average is $74.85.

Institutional Investors Weigh In On Perficient

Several large investors have recently made changes to their positions in PRFT. Nisa Investment Advisors LLC grew its stake in Perficient by 9.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,913 shares of the digital transformation consultancy’s stock worth $143,000 after buying an additional 165 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Perficient by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 30,613 shares of the digital transformation consultancy’s stock worth $2,290,000 after purchasing an additional 181 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Perficient by 2.4% in the second quarter. Arizona State Retirement System now owns 9,786 shares of the digital transformation consultancy’s stock valued at $732,000 after buying an additional 230 shares during the last quarter. CWM LLC grew its holdings in Perficient by 67.7% during the 2nd quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock worth $43,000 after acquiring an additional 233 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in Perficient by 4.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 7,433 shares of the digital transformation consultancy’s stock valued at $418,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.

About Perficient

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.