Perficient, Inc. (NASDAQ:PRFT) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 1,100,000 shares, a drop of 46.1% from the October 31st total of 2,040,000 shares. Based on an average daily trading volume, of 478,700 shares, the days-to-cover ratio is currently 2.3 days. Currently, 3.4% of the shares of the stock are short sold.
NASDAQ:PRFT traded down $1.97 during trading hours on Tuesday, reaching $136.39. The company had a trading volume of 3,068 shares, compared to its average volume of 362,039. Perficient has a 1-year low of $43.51 and a 1-year high of $153.28. The firm has a market cap of $4.49 billion, a PE ratio of 84.37, a price-to-earnings-growth ratio of 2.72 and a beta of 1.46. The business’s 50 day moving average price is $129.70 and its 200-day moving average price is $104.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.12 and a quick ratio of 2.12.
Perficient (NASDAQ:PRFT) last announced its quarterly earnings results on Thursday, October 28th. The digital transformation consultancy reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.03. Perficient had a return on equity of 21.84% and a net margin of 7.90%. The company had revenue of $192.80 million during the quarter, compared to the consensus estimate of $189.51 million. During the same period in the previous year, the company posted $0.52 earnings per share. Perficient’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts expect that Perficient will post 2.88 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Keybank National Association OH raised its stake in shares of Perficient by 1.8% during the 3rd quarter. Keybank National Association OH now owns 4,749 shares of the digital transformation consultancy’s stock worth $549,000 after buying an additional 83 shares during the period. Huntington National Bank raised its stake in shares of Perficient by 9.4% during the 3rd quarter. Huntington National Bank now owns 976 shares of the digital transformation consultancy’s stock worth $113,000 after buying an additional 84 shares during the period. US Bancorp DE raised its stake in shares of Perficient by 5.4% during the 3rd quarter. US Bancorp DE now owns 1,921 shares of the digital transformation consultancy’s stock worth $222,000 after buying an additional 99 shares during the period. Delta Capital Management LLC raised its stake in shares of Perficient by 2.0% during the 3rd quarter. Delta Capital Management LLC now owns 5,170 shares of the digital transformation consultancy’s stock worth $598,000 after buying an additional 100 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Perficient by 1.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,812 shares of the digital transformation consultancy’s stock worth $904,000 after buying an additional 100 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on PRFT. JPMorgan Chase & Co. raised shares of Perficient from a “neutral” rating to an “overweight” rating and raised their target price for the company from $100.00 to $126.00 in a report on Tuesday, August 17th. Alliance Global Partners lifted their target price on Perficient from $125.00 to $138.00 and gave the stock a “neutral” rating in a research report on Thursday, October 28th. Zacks Investment Research upgraded Perficient from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a research note on Thursday, October 7th. Needham & Company LLC lifted their target price on Perficient from $130.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, October 18th. Finally, Maxim Group boosted their price target on Perficient from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, October 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $142.17.
Perficient Company Profile
Perficient, Inc engages in the provision of digital consultancy services. Its service categories include strategy and consulting; data and intelligence; platforms and technology; customer experience and digital marketing; innovation and product development; and optimized global delivery. The company was founded in 1998 and is headquartered in St.