Perficient, Inc. (PRFT) Releases Quarterly Earnings Results, Hits Expectations
Perficient, Inc. (NASDAQ:PRFT) posted its quarterly earnings results on Wednesday. The digital transformation consultancy reported $0.34 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34, Bloomberg Earnings reports. Perficient had a net margin of 3.08% and a return on equity of 7.42%. The firm had revenue of $123.70 million during the quarter, compared to the consensus estimate of $127.51 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis.
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Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Perficient from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Wednesday, September 13th. Maxim Group reaffirmed a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Perficient in a research note on Thursday. Finally, BidaskClub downgraded shares of Perficient from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.33.
In other Perficient news, Chairman Jeffrey S. Davis sold 39,023 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $20.04, for a total transaction of $782,020.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Paul E. Martin sold 6,082 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $20.20, for a total transaction of $122,856.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,847 shares of company stock worth $1,739,758. 3.70% of the stock is owned by company insiders.
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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