Perficient (NASDAQ:PRFT) Now Covered by StockNews.com

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

Perficient Price Performance

PRFT opened at $75.96 on Friday. The firm has a market capitalization of $2.67 billion, a P/E ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.63. The stock has a fifty day moving average of $75.82 and a 200-day moving average of $74.85. 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Glazer Capital LLC lifted its stake in shares of Perficient by 257.8% in the 3rd quarter. Glazer Capital LLC now owns 1,707,040 shares of the digital transformation consultancy’s stock valued at $128,847,000 after purchasing an additional 1,229,890 shares during the last quarter. Alpine Associates Management Inc. bought a new stake in shares of Perficient during the 2nd quarter worth about $32,541,000. Millennium Management LLC raised its stake in shares of Perficient by 1,044.3% in the 2nd quarter. Millennium Management LLC now owns 475,686 shares of the digital transformation consultancy’s stock valued at $35,577,000 after acquiring an additional 434,115 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Perficient in the second quarter worth $22,968,000. Finally, Pentwater Capital Management LP bought a new position in Perficient in the 2nd quarter worth $22,437,000. 95.00% of the stock is owned by hedge funds and other institutional investors.

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.