Perficient (NASDAQ:PRFT) Announces Quarterly Earnings Results

Perficient (NASDAQ:PRFT) posted its earnings results on Thursday. The digital transformation consultancy reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.04, Fidelity Earnings reports. The firm had revenue of $144.68 million for the quarter, compared to the consensus estimate of $143.17 million. Perficient had a net margin of 5.52% and a return on equity of 12.31%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Perficient updated its Q4 guidance to $0.55-0.58 EPS.

Shares of NASDAQ:PRFT traded up $0.56 during midday trading on Friday, hitting $38.94. The company’s stock had a trading volume of 551,900 shares, compared to its average volume of 282,685. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 2.26 and a beta of 0.79. The stock’s 50 day simple moving average is $38.08 and its 200 day simple moving average is $34.87. Perficient has a fifty-two week low of $20.92 and a fifty-two week high of $41.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.30 and a current ratio of 2.30.

Several equities research analysts have recently issued reports on PRFT shares. National Securities started coverage on Perficient in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $46.00 price target on the stock. BidaskClub downgraded Perficient from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 2nd. Barrington Research reaffirmed a “buy” rating and issued a $44.00 price target on shares of Perficient in a research report on Thursday, September 12th. William Blair started coverage on Perficient in a research report on Monday, September 9th. They issued an “outperform” rating on the stock. Finally, Maxim Group set a $46.00 price target on Perficient and gave the company a “buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Perficient currently has a consensus rating of “Buy” and an average target price of $41.17.

In other news, Director David S. Lundeen sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $36.09, for a total value of $360,900.00. Following the sale, the director now directly owns 48,857 shares of the company’s stock, valued at $1,763,249.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.

About Perficient

Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, commerce, content management, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.

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Earnings History for Perficient (NASDAQ:PRFT)

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