Perficient (NASDAQ:PRFT) Issues Quarterly Earnings Results, Meets Estimates

Perficient (NASDAQ:PRFT) announced its earnings results on Sunday. The digital transformation consultancy reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77, Briefing.com reports. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The firm had revenue of $215.30 million during the quarter, compared to the consensus estimate of $224.99 million. During the same quarter in the previous year, the company posted $0.89 EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis.

Perficient Stock Performance

Shares of PRFT opened at $73.26 on Tuesday. The business’s 50 day moving average is $54.81 and its two-hundred day moving average is $61.39. Perficient has a 52-week low of $42.51 and a 52-week high of $96.93. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.17 and a beta of 1.46. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PRFT. Guggenheim began coverage on Perficient in a report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price for the company. William Blair reiterated a “market perform” rating on shares of Perficient in a report on Monday. Scotiabank boosted their target price on Perficient from $50.00 to $76.00 and gave the stock a “sector perform” rating in a report on Monday. JPMorgan Chase & Co. decreased their target price on Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a report on Monday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $69.50.

Insider Buying and Selling at Perficient

In other Perficient news, CFO Paul E. Martin sold 3,664 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total value of $246,440.64. Following the transaction, the chief financial officer now directly owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the sale, the chief executive officer now directly owns 193,304 shares of the company’s stock, valued at approximately $13,001,627.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Paul E. Martin sold 3,664 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $246,440.64. Following the sale, the chief financial officer now directly owns 212,642 shares in the company, valued at $14,302,300.92. The disclosure for this sale can be found here. Insiders have sold a total of 13,149 shares of company stock valued at $885,619 in the last three months. Corporate insiders own 2.10% of the company’s stock.

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.