Zacks: Analysts Expect Perficient, Inc. (NASDAQ:PRFT) Will Post Earnings of $0.79 Per Share

Wall Street analysts predict that Perficient, Inc. (NASDAQ:PRFT) will announce $0.79 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Perficient’s earnings. The lowest EPS estimate is $0.78 and the highest is $0.79. Perficient reported earnings of $0.57 per share during the same quarter last year, which indicates a positive year over year growth rate of 38.6%. The firm is scheduled to report its next earnings report on Thursday, July 29th.

On average, analysts expect that Perficient will report full-year earnings of $3.12 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.16. For the next financial year, analysts forecast that the firm will report earnings of $3.50 per share, with EPS estimates ranging from $3.36 to $3.67. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Perficient.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Thursday, April 29th. The digital transformation consultancy reported $0.75 EPS for the quarter, topping the consensus estimate of $0.56 by $0.19. Perficient had a return on equity of 15.08% and a net margin of 5.64%. The firm had revenue of $169.34 million for the quarter, compared to the consensus estimate of $166.55 million.

Several brokerages recently issued reports on PRFT. Maxim Group reissued a “buy” rating and set a $83.00 target price on shares of Perficient in a research note on Friday, April 30th. Zacks Investment Research raised Perficient from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, May 7th. JPMorgan Chase & Co. began coverage on Perficient in a research note on Tuesday, March 30th. They set a “neutral” rating and a $68.00 target price on the stock. Needham & Company LLC lifted their target price on Perficient from $46.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, February 26th. Finally, Barrington Research lifted their target price on Perficient from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, April 30th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $74.00.

PRFT traded up $1.28 on Thursday, hitting $69.76. 780,631 shares of the company’s stock traded hands, compared to its average volume of 299,145. The company’s 50 day simple moving average is $63.64 and its 200-day simple moving average is $54.48. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 68.39, a P/E/G ratio of 1.78 and a beta of 1.49. Perficient has a one year low of $30.32 and a one year high of $71.32. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.49.

In other Perficient news, COO Thomas J. Hogan sold 8,224 shares of the firm’s stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $67.50, for a total transaction of $555,120.00. Following the completion of the transaction, the chief operating officer now owns 83,441 shares in the company, valued at approximately $5,632,267.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul E. Martin sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $66.49, for a total value of $545,218.00. Following the transaction, the chief financial officer now owns 145,947 shares of the company’s stock, valued at approximately $9,704,016.03. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Perficient in the 4th quarter worth approximately $4,655,000. SG Capital Management LLC purchased a new position in shares of Perficient in the 4th quarter worth approximately $2,221,000. Sei Investments Co. boosted its holdings in shares of Perficient by 89.9% in the 3rd quarter. Sei Investments Co. now owns 42,874 shares of the digital transformation consultancy’s stock worth $1,837,000 after purchasing an additional 20,291 shares during the period. Virginia Retirement Systems ET AL boosted its holdings in shares of Perficient by 6.1% in the 4th quarter. Virginia Retirement Systems ET AL now owns 17,400 shares of the digital transformation consultancy’s stock worth $829,000 after purchasing an additional 1,000 shares during the period. Finally, Kennedy Capital Management Inc. boosted its holdings in shares of Perficient by 0.7% in the 4th quarter. Kennedy Capital Management Inc. now owns 297,055 shares of the digital transformation consultancy’s stock worth $14,155,000 after purchasing an additional 2,056 shares during the period. Hedge funds and other institutional investors own 93.85% of the company’s stock.

Perficient Company Profile

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