Perficient (NASDAQ:PRFT) Releases Quarterly Earnings Results

Perficient (NASDAQ:PRFT) released its quarterly earnings data on Sunday. The digital transformation consultancy reported $0.77 EPS 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 for the quarter, compared to the consensus estimate of $224.99 million. During the same period in the previous year, the company earned $0.89 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis.

Perficient Trading Up 52.3 %

PRFT opened at $73.26 on Tuesday. Perficient has a twelve month low of $42.51 and a twelve month high of $96.93. The company has a 50-day simple moving average of $54.81 and a 200 day simple moving average of $61.39. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.17 and a beta of 1.46.

Analyst Ratings Changes

Several research firms have commented on PRFT. Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a report on Monday. Alliance Global Partners upgraded shares of Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Tuesday, April 23rd. William Blair reissued a “market perform” rating on shares of Perficient in a research report on Monday. JPMorgan Chase & Co. reduced their target price on shares of Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Scotiabank boosted their target price on shares of Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $69.50.

Insider Buying and Selling

In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.26, for a total transaction of $591,955.26. Following the completion of the transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paul E. Martin sold 3,664 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 13,149 shares of company stock valued at $885,619 over the last quarter. 2.10% of the stock is owned by company insiders.

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.