Perficient (NASDAQ:PRFT) Announces Quarterly Earnings Results

Perficient (NASDAQ:PRFT) posted its earnings results on Sunday. The digital transformation consultancy reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77, Briefing.com reports. Perficient had a net margin of 10.91% and a return on equity of 23.39%. The firm had revenue of $215.30 million during the quarter, compared to analyst estimates of $224.99 million. During the same quarter in the prior year, the business posted $0.89 EPS. The business’s revenue was down 7.0% compared to the same quarter last year.

Perficient Price Performance

Shares of NASDAQ PRFT opened at $73.28 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15. Perficient has a fifty-two week low of $42.51 and a fifty-two week high of $96.93. The stock has a market cap of $2.57 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. The stock has a fifty day moving average of $54.98 and a 200-day moving average of $61.52.

Analyst Ratings Changes

Several research firms have recently issued reports on PRFT. Guggenheim assumed coverage on Perficient in a report on Tuesday, March 19th. They issued a “neutral” rating and a $65.00 target price for the company. Scotiabank upped their price objective on Perficient from $50.00 to $76.00 and gave the company a “sector perform” rating in a research note on Monday. JPMorgan Chase & Co. lowered their target price on Perficient from $71.00 to $59.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. StockNews.com lowered shares of Perficient from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Perficient in a research report on Monday. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $70.43.

Insider Buying and Selling

In other Perficient news, SVP Kevin Thomas Sheen sold 684 shares of Perficient stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total transaction of $47,223.36. Following the completion of the transaction, the senior vice president now owns 26,533 shares of the company’s stock, valued at approximately $1,831,838.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Thomas J. Hogan sold 8,801 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $67.26, for a total value of $591,955.26. Following the transaction, the chief executive officer now owns 193,304 shares of the company’s stock, valued at $13,001,627.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $69.04, for a total value of $47,223.36. Following the transaction, the senior vice president now owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,149 shares of company stock valued at $885,619. Corporate insiders own 2.10% of the company’s stock.

About Perficient

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, 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 portfolios.