Perficient, Inc. (NASDAQ:PRFT) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.32-0.38 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.38.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Thursday, August 3rd. The digital transformation consultancy reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. Perficient had a net margin of 3.08% and a return on equity of 7.42%. The company had revenue of $117.00 million during the quarter, compared to the consensus estimate of $119.21 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The firm’s quarterly revenue was down 5.9% on a year-over-year basis.

A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Perficient from a buy rating to a hold rating in a research note on Saturday, October 7th. Maxim Group set a $20.00 price target on shares of Perficient and gave the stock a buy rating in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded shares of Perficient from a hold rating to a sell rating in a research note on Saturday, July 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $20.67.

In other Perficient news, Chairman Jeffrey S. Davis sold 39,023 shares of the firm’s 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Ralph C. Derrickson sold 7,900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $17.64, for a total transaction of $139,356.00. Following the sale, the director now directly owns 32,747 shares in the company, valued at approximately $577,657.08. The disclosure for this sale can be found here. Insiders sold 88,847 shares of company stock valued at $1,739,758 in the last quarter. 3.70% of the stock is owned by insiders.

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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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