Perficient, Inc. (PRFT) Posts Quarterly Earnings Results, Meets Estimates
Perficient, Inc. (NASDAQ:PRFT) issued its quarterly earnings data on Thursday. The digital transformation consultancy reported $0.34 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34, Bloomberg Earnings reports. Perficient had a net margin of 3.36% and a return on equity of 8.05%. The firm had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $127.51 million. During the same quarter in the prior year, the business earned $0.26 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Perficient updated its Q4 guidance to $0.32-0.38 EPS.
Perficient (NASDAQ:PRFT) traded down $0.15 during midday trading on Friday, reaching $19.00. 88,595 shares of the company’s stock were exchanged, compared to its average volume of 87,825. The company has a market cap of $676.87 million, a P/E ratio of 22.29 and a beta of 0.85.
In related news, Director Ralph C. Derrickson sold 7,900 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $577,657.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey S. Davis sold 2,542 shares of the company’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $19.92, for a total transaction of $50,636.64. 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. Company insiders own 3.70% of the company’s stock.
Several equities analysts have recently weighed in on PRFT shares. Maxim Group set a $20.00 price objective on shares of Perficient and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut shares of Perficient from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub cut 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 given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $21.33.
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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