Perficient (NASDAQ:PRFT) Releases Quarterly Earnings Results, Hits Expectations

Perficient (NASDAQ:PRFT) announced its quarterly earnings results on Sunday. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77, Briefing.com reports. Perficient had a return on equity of 23.39% and a net margin of 10.91%. The company had revenue of $215.30 million for the quarter, compared to the consensus estimate of $224.99 million. During the same quarter in the previous year, the business earned $0.89 EPS. Perficient’s revenue was down 7.0% compared to the same quarter last year.

Perficient Stock Up 52.3 %

Perficient stock opened at $73.26 on Tuesday. Perficient has a 12 month low of $42.51 and a 12 month high of $96.93. The stock has a fifty day simple moving average of $54.81 and a two-hundred day simple moving average of $61.39. 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 firm 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.

Insider Activity

In other news, CFO Paul E. Martin sold 3,664 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $246,440.64. Following the sale, the chief financial officer now owns 212,642 shares of the company’s stock, valued at approximately $14,302,300.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the firm’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 $591,955.26. Following the transaction, the chief executive officer now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul E. Martin sold 3,664 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total transaction of $246,440.64. Following the sale, 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 have sold a total of 13,149 shares of company stock valued at $885,619 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barrington Research reiterated an “outperform” rating and issued a $77.00 price target on shares of Perficient in a report on Monday, April 29th. Guggenheim began coverage on Perficient in a research report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Perficient in a research note on Monday. JPMorgan Chase & Co. lowered their price target 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, William Blair restated a “market perform” rating on shares of Perficient in a report on Monday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Perficient currently has a consensus rating of “Hold” and a consensus target price of $69.50.

Perficient Company Profile

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.