Perficient, Inc. (NASDAQ:PRFT) Forecasted to Post Q3 2022 Earnings of $0.99 Per Share

Perficient, Inc. (NASDAQ:PRFTGet Rating) – Equities research analysts at Jefferies Financial Group increased their Q3 2022 earnings per share (EPS) estimates for shares of Perficient in a research report issued on Wednesday, September 14th. Jefferies Financial Group analyst S. Thind now forecasts that the digital transformation consultancy will post earnings of $0.99 per share for the quarter, up from their previous forecast of $0.98. Jefferies Financial Group currently has a “Buy” rating and a $92.00 target price on the stock. The consensus estimate for Perficient’s current full-year earnings is $3.80 per share. Jefferies Financial Group also issued estimates for Perficient’s Q4 2022 earnings at $1.05 EPS, FY2022 earnings at $3.81 EPS, Q1 2023 earnings at $1.00 EPS, Q2 2023 earnings at $1.15 EPS, Q3 2023 earnings at $1.16 EPS, Q4 2023 earnings at $1.23 EPS, FY2023 earnings at $4.52 EPS and FY2024 earnings at $5.30 EPS.

Perficient (NASDAQ:PRFTGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The digital transformation consultancy reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.14. The business had revenue of $222.74 million during the quarter, compared to analysts’ expectations of $228.07 million. Perficient had a return on equity of 30.67% and a net margin of 9.01%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS.

A number of other equities analysts have also recently weighed in on the company. Maxim Group reaffirmed a “buy” rating and issued a $140.00 price target on shares of Perficient in a report on Friday, August 5th. William Blair reissued an “outperform” rating on shares of Perficient in a report on Thursday, June 9th. JPMorgan Chase & Co. reduced their target price on Perficient from $133.00 to $123.00 in a report on Wednesday, July 20th. Scotiabank began coverage on Perficient in a research report on Thursday, June 30th. They issued a “sector outperform” rating and a $110.00 price target for the company. Finally, Needham & Company LLC lowered their price objective on Perficient from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.50.

Perficient Stock Performance

NASDAQ PRFT opened at $66.49 on Monday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 1.03 and a beta of 1.54. Perficient has a twelve month low of $64.05 and a twelve month high of $153.28. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 1.07. The stock has a 50-day moving average of $86.40 and a 200 day moving average of $95.53.

Insider Buying and Selling at Perficient

In related news, Director Romil Bahl bought 500 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were acquired at an average price of $88.89 per share, for a total transaction of $44,445.00. Following the purchase, the director now owns 1,449 shares in the company, valued at approximately $128,801.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRFT. Vanguard Group Inc. lifted its position in shares of Perficient by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 3,799,310 shares of the digital transformation consultancy’s stock valued at $418,266,000 after acquiring an additional 189,974 shares in the last quarter. Wellington Management Group LLP lifted its position in Perficient by 5.9% in the 1st quarter. Wellington Management Group LLP now owns 1,347,413 shares of the digital transformation consultancy’s stock worth $148,336,000 after buying an additional 75,164 shares in the last quarter. abrdn plc lifted its position in Perficient by 16.7% in the 1st quarter. abrdn plc now owns 1,118,629 shares of the digital transformation consultancy’s stock worth $123,149,000 after buying an additional 159,959 shares in the last quarter. State Street Corp raised its holdings in shares of Perficient by 4.6% during the 2nd quarter. State Street Corp now owns 1,103,099 shares of the digital transformation consultancy’s stock valued at $101,143,000 after purchasing an additional 48,832 shares in the last quarter. Finally, Geneva Capital Management LLC grew its stake in Perficient by 18.1% in the 2nd quarter. Geneva Capital Management LLC now owns 823,380 shares of the digital transformation consultancy’s stock valued at $75,496,000 after buying an additional 126,155 shares during the last quarter. Institutional investors own 93.76% of the company’s stock.

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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Earnings History and Estimates for Perficient (NASDAQ:PRFT)

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