Research Analysts Offer Predictions for Perficient, Inc.’s Q3 2017 Earnings (PRFT)
Perficient, Inc. (NASDAQ:PRFT) – Research analysts at SunTrust Banks increased their Q3 2017 earnings per share (EPS) estimates for Perficient in a report released on Wednesday. SunTrust Banks analyst F. Atkins now forecasts that the information technology services provider will post earnings per share of $0.26 for the quarter, up from their prior estimate of $0.25. SunTrust Banks also issued estimates for Perficient’s Q4 2017 earnings at $0.28 EPS, Q2 2018 earnings at $0.28 EPS and Q3 2018 earnings at $0.30 EPS.
A number of other equities analysts also recently issued reports on PRFT. Zacks Investment Research downgraded shares of Perficient from a “buy” rating to a “hold” rating in a research note on Friday. Maxim Group set a $20.00 price objective on shares of Perficient and gave the company a “buy” rating in a research note on Saturday, June 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $21.00 price objective on shares of Perficient in a research note on Sunday, April 2nd. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.33.
Perficient (NASDAQ PRFT) opened at 18.64 on Friday. The stock has a market capitalization of $657.00 million, a P/E ratio of 37.21 and a beta of 0.85. The firm’s 50-day moving average is $17.37 and its 200-day moving average is $17.64. Perficient has a 52 week low of $14.15 and a 52 week high of $22.66.
Perficient (NASDAQ:PRFT) last issued its earnings results on Thursday, May 4th. The information technology services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Perficient had a net margin of 3.75% and a return on equity of 7.33%. The company had revenue of $111.02 million for the quarter, compared to the consensus estimate of $114.23 million. During the same period in the previous year, the firm earned $0.29 earnings per share. Perficient’s quarterly revenue was down 10.4% compared to the same quarter last year.
Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its stake in Perficient by 10.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,521 shares of the information technology services provider’s stock worth $113,000 after buying an additional 637 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Perficient by 31.1% in the first quarter. Victory Capital Management Inc. now owns 6,860 shares of the information technology services provider’s stock worth $119,000 after buying an additional 1,629 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in Perficient by 525.7% in the first quarter. Acrospire Investment Management LLC now owns 7,771 shares of the information technology services provider’s stock worth $135,000 after buying an additional 6,529 shares during the last quarter. Mason Street Advisors LLC boosted its stake in Perficient by 5.1% in the first quarter. Mason Street Advisors LLC now owns 8,282 shares of the information technology services provider’s stock worth $144,000 after buying an additional 403 shares during the last quarter. Finally, Airain ltd purchased a new stake in Perficient during the first quarter worth approximately $177,000. Hedge funds and other institutional investors own 78.35% of the company’s stock.
Perficient Company Profile
Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.
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