Perficient: Record high after William Blair initiates with 'outperform'

Perficient

09/09/2019 17:06

** Consulting firm's shares  PRFT.O  rise as much as 4.7% to
record high of $39.30 after William Blair initiates coverage of
PRFT with "outperform"
    ** Believes complete integration of PRFT's digital agency,
which competes with large advertising and global marketing
agencies, with co's back-end technical capabilities & solutions
distinguishes PRFT from peers
    ** Also says PRFT has a well-diversified business model and
co has minimal concentration in terms of its solutions
    ** Brokerage adds that PRFT has multiple strategic growth
drivers like a maturing salesforce, portfolio expansion, and
strategic account development with additional upside and
long-term synergies from M&A activity
    ** Believes these are creating positive momentum in the
business; Brokerage also expects multiple tears of margin
expansion
    ** Current avg. rating on PRFT is "buy"; median PT $43.50
    ** Up to Friday's close, PRFT had gained 68.6% this year

 (Reporting by Arjun Panchadar in Bengaluru)
 ((Arjun.Panchadar@thomsonreuters.com; within U.S.
+1-646-223-8780; outside U.S. +918067492767;))