Perficient (NASDAQ:PRFT) Issues Quarterly Earnings Results

Perficient (NASDAQ:PRFT) issued its quarterly earnings data on Sunday. The digital transformation consultancy reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77, Briefing.com reports. The business had revenue of $215.30 million during the quarter, compared to analyst estimates of $224.99 million. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS.

Perficient Stock Performance

PRFT opened at $73.26 on Tuesday. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The company 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’s 50 day moving average is $54.81 and its 200 day moving average is $61.39. Perficient has a 12-month low of $42.51 and a 12-month high of $96.93.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PRFT shares. William Blair reiterated a “market perform” rating on shares of Perficient in a research note on Monday. Needham & Company LLC reissued a “hold” rating on shares of Perficient in a research report on Monday. Scotiabank increased their price objective on shares of Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a research report on Monday. Alliance Global Partners raised shares of Perficient from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Tuesday, April 23rd. Finally, Barrington Research reaffirmed an “outperform” rating and set a $77.00 price target on shares of Perficient in a report on Monday, April 29th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Perficient has a consensus rating of “Hold” and a consensus price target of $69.50.

Insider Buying and Selling

In related news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total value of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total transaction of $47,223.36. Following the sale, the senior vice president now owns 26,533 shares in the company, valued at approximately $1,831,838.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas J. Hogan sold 8,801 shares of the firm’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 owns 193,304 shares in the company, valued at approximately $13,001,627.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,149 shares of company stock valued at $885,619. 2.10% of the stock is owned by 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.