Perficient (NASDAQ:PRFT) Issues FY20 Earnings Guidance

Perficient (NASDAQ:PRFT) issued an update on its FY20 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.30-2.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.35. The company issued revenue guidance of $610-640 million, compared to the consensus revenue estimate of $624.31 million.Perficient also updated its FY 2020
Pre-Market guidance to 2.30-2.45 EPS.

Shares of PRFT traded down $0.09 during mid-day trading on Wednesday, reaching $44.06. The company had a trading volume of 618,300 shares, compared to its average volume of 395,782. Perficient has a twelve month low of $26.97 and a twelve month high of $53.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.69 and a quick ratio of 2.69. The company’s 50-day moving average is $50.10 and its 200-day moving average is $42.31. The company has a market capitalization of $1.61 billion, a P/E ratio of 43.20, a P/E/G ratio of 2.14 and a beta of 0.81.

Perficient (NASDAQ:PRFT) last issued its earnings results on Tuesday, February 25th. The digital transformation consultancy reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.12. Perficient had a return on equity of 13.21% and a net margin of 5.94%. The business had revenue of $145.16 million during the quarter, compared to analysts’ expectations of $145.55 million. During the same period in the prior year, the firm posted $0.47 EPS. Perficient’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts expect that Perficient will post 1.65 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on the company. ValuEngine raised Perficient from a sell rating to a hold rating in a report on Tuesday, February 4th. Maxim Group reaffirmed a buy rating and set a $50.00 price target on shares of Perficient in a report on Friday, November 8th. BidaskClub raised Perficient from a buy rating to a strong-buy rating in a report on Saturday, November 16th. Finally, Barrington Research raised their price target on Perficient from $46.00 to $52.00 and gave the company an outperform rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $45.80.

In related news, CFO Paul E. Martin sold 15,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $47.59, for a total transaction of $713,850.00. Following the completion of the sale, the chief financial officer now directly owns 157,674 shares of the company’s stock, valued at approximately $7,503,705.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.

About Perficient

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, commerce, content management, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

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