Perficient, Inc. (NASDAQ:PRFT) Expected to Post Quarterly Sales of $228.11 Million

Wall Street analysts expect Perficient, Inc. (NASDAQ:PRFTGet Rating) to announce sales of $228.11 million for the current quarter, Zacks reports. Five analysts have provided estimates for Perficient’s earnings. The highest sales estimate is $230.20 million and the lowest is $226.72 million. Perficient posted sales of $184.14 million during the same quarter last year, which suggests a positive year-over-year growth rate of 23.9%. The firm is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Perficient will report full-year sales of $933.09 million for the current fiscal year, with estimates ranging from $929.79 million to $940.40 million. For the next fiscal year, analysts anticipate that the business will post sales of $1.07 billion, with estimates ranging from $1.05 billion to $1.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Perficient.

Perficient (NASDAQ:PRFTGet Rating) last issued its earnings results on Thursday, April 28th. The digital transformation consultancy reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.02. Perficient had a net margin of 8.07% and a return on equity of 27.60%. The company had revenue of $222.11 million for the quarter, compared to analyst estimates of $219.66 million. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year.

PRFT has been the topic of a number of analyst reports. Alliance Global Partners decreased their target price on shares of Perficient from $138.00 to $122.00 in a research report on Monday, February 28th. JPMorgan Chase & Co. cut their price target on shares of Perficient from $138.00 to $133.00 in a research note on Friday, April 29th. Zacks Investment Research raised shares of Perficient from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research note on Saturday, June 4th. StockNews.com began coverage on shares of Perficient in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Barrington Research cut their target price on shares of Perficient from $150.00 to $124.00 in a research note on Friday, February 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Perficient presently has an average rating of “Buy” and a consensus price target of $128.71.

In other Perficient news, Director Ralph C. Derrickson sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $96.15, for a total transaction of $480,750.00. Following the sale, the director now directly owns 37,281 shares in the company, valued at approximately $3,584,568.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in PRFT. Morgan Stanley boosted its position in Perficient by 8.5% during the second quarter. Morgan Stanley now owns 342,940 shares of the digital transformation consultancy’s stock valued at $27,578,000 after purchasing an additional 26,759 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Perficient by 924.5% during the third quarter. Rockefeller Capital Management L.P. now owns 543 shares of the digital transformation consultancy’s stock valued at $62,000 after acquiring an additional 490 shares in the last quarter. Hsbc Holdings PLC raised its position in Perficient by 8.0% during the third quarter. Hsbc Holdings PLC now owns 5,631 shares of the digital transformation consultancy’s stock valued at $656,000 after acquiring an additional 419 shares in the last quarter. GSA Capital Partners LLP bought a new position in Perficient during the third quarter valued at approximately $295,000. Finally, Franklin Resources Inc. bought a new position in Perficient during the third quarter valued at approximately $250,000. 89.37% of the stock is currently owned by institutional investors and hedge funds.

PRFT stock opened at $103.00 on Thursday. Perficient has a 12 month low of $73.93 and a 12 month high of $153.28. The company’s 50 day simple moving average is $102.41 and its 200-day simple moving average is $109.61. The firm has a market capitalization of $3.57 billion, a PE ratio of 55.68, a P/E/G ratio of 1.53 and a beta of 1.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.38 and a quick ratio of 2.38.

About Perficient (Get Rating)

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

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