Perficient, Inc. (PRFT) Releases Quarterly Earnings Results, Meets Expectations
Perficient, Inc. (NASDAQ:PRFT) issued its earnings results on Thursday. The digital transformation consultancy reported $0.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34, Bloomberg Earnings reports. The business had revenue of $123.70 million during the quarter, compared to analysts’ expectations of $127.51 million. Perficient had a return on equity of 8.05% and a net margin of 3.36%. Perficient’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Perficient updated its Q4 guidance to $0.32-0.38 EPS.
Perficient (NASDAQ:PRFT) traded down $0.15 on Friday, reaching $19.00. The company had a trading volume of 88,595 shares, compared to its average volume of 87,825. The company has a quick ratio of 2.57, a current ratio of 2.92 and a debt-to-equity ratio of 0.18. The stock has a market cap of $676.87 million, a price-to-earnings ratio of 22.29 and a beta of 0.85.
Several analysts have recently commented on the company. Zacks Investment Research raised Perficient from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Wednesday, September 13th. Maxim Group reaffirmed a “buy” rating and issued a $22.00 target price (up previously from $20.00) on shares of Perficient in a research report on Thursday. Finally, BidaskClub cut Perficient from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $21.33.
In related news, Director Ralph C. Derrickson sold 7,900 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $17.64, for a total value of $139,356.00. Following the completion of the transaction, the director now directly owns 32,747 shares in the company, valued at approximately $577,657.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paul E. Martin sold 6,082 shares of the stock in a transaction dated 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 ninety days, insiders sold 88,847 shares of company stock valued at $1,739,758. Corporate insiders own 3.70% of the company’s stock.
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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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