Perficient (NASDAQ:PRFT) Posts Quarterly Earnings Results, Hits Expectations

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

Perficient Stock Up 0.0 %

Shares of NASDAQ PRFT traded up $0.02 during mid-day trading on Tuesday, reaching $73.28. 2,609,054 shares of the company’s stock were exchanged, compared to its average volume of 431,316. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $54.81 and a 200 day simple moving average of $61.39. Perficient has a twelve month low of $42.51 and a twelve month high of $96.93. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.17 and a beta of 1.46.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PRFT. Needham & Company LLC restated a “hold” rating on shares of Perficient in a research report on Monday. Guggenheim assumed coverage on shares of Perficient in a report on Tuesday, March 19th. They set a “neutral” rating and a $65.00 target price for the company. Alliance Global Partners reissued a “neutral” rating on shares of Perficient in a research note on Tuesday. JPMorgan Chase & Co. decreased their price objective on Perficient from $71.00 to $59.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Barrington Research reissued a “market perform” rating on shares of Perficient in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.43.

Insider Activity at Perficient

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

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.