Perficient (NASDAQ:PRFT) Releases Earnings Results, Beats Estimates By $0.14 EPS

Perficient (NASDAQ:PRFTGet Rating) announced its earnings results on Thursday. The digital transformation consultancy reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14, Briefing.com reports. Perficient had a net margin of 9.01% and a return on equity of 30.67%. The business had revenue of $222.74 million for the quarter, compared to analyst estimates of $228.07 million. During the same period last year, the firm posted $0.71 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year.

Perficient Trading Down 4.6 %

NASDAQ:PRFT opened at $88.81 on Friday. The company has a market capitalization of $3.08 billion, a PE ratio of 41.70, a price-to-earnings-growth ratio of 1.37 and a beta of 1.47. The company has a quick ratio of 2.38, a current ratio of 2.67 and a debt-to-equity ratio of 1.07. Perficient has a 52-week low of $86.24 and a 52-week high of $153.28. The stock has a fifty day simple moving average of $95.53 and a 200-day simple moving average of $100.37.

Insider Transactions at Perficient

In other news, Director Ralph C. Derrickson sold 5,000 shares of Perficient stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $96.15, for a total transaction of $480,750.00. Following the completion of the transaction, the director now owns 37,281 shares of the company’s stock, valued at approximately $3,584,568.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its stake in Perficient by 85.7% in the 1st quarter. Captrust Financial Advisors now owns 2,089 shares of the digital transformation consultancy’s stock valued at $230,000 after purchasing an additional 964 shares during the last quarter. Virtu Financial LLC purchased a new stake in Perficient in the 1st quarter valued at about $237,000. US Bancorp DE grew its holdings in Perficient by 22.2% in the 1st quarter. US Bancorp DE now owns 2,282 shares of the digital transformation consultancy’s stock valued at $251,000 after buying an additional 415 shares during the period. Guggenheim Capital LLC grew its holdings in Perficient by 13.6% in the 1st quarter. Guggenheim Capital LLC now owns 2,608 shares of the digital transformation consultancy’s stock valued at $287,000 after buying an additional 313 shares during the period. Finally, Sawgrass Asset Management LLC purchased a new stake in Perficient in the 1st quarter valued at about $345,000. Institutional investors and hedge funds own 89.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PRFT. TheStreet upgraded shares of Perficient from a “c+” rating to a “b-” rating in a research report on Thursday, April 28th. William Blair reiterated an “outperform” rating on shares of Perficient in a research report on Thursday, June 9th. JPMorgan Chase & Co. lowered their price objective on shares of Perficient from $133.00 to $123.00 in a research report on Wednesday, July 20th. Morgan Stanley began coverage on shares of Perficient in a research report on Tuesday, April 26th. They issued an “equal weight” rating and a $120.00 price objective on the stock. Finally, Scotiabank initiated coverage on shares of Perficient in a research report on Thursday, June 30th. They issued a “sector outperform” rating and a $110.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Perficient currently has an average rating of “Moderate Buy” and a consensus price target of $122.71.

Perficient Company Profile

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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.

Further Reading

Earnings History for Perficient (NASDAQ:PRFT)

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