Perficient (NASDAQ:PRFT) Announces Quarterly Earnings Results

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

Perficient Stock Up 0.0 %

Shares of PRFT opened at $73.28 on Wednesday. The company’s 50-day simple moving average is $54.98 and its 200-day simple moving average is $61.52. The stock has a market capitalization of $2.57 billion, a PE ratio of 26.55, a P/E/G ratio of 1.17 and a beta of 1.46. Perficient has a 1 year low of $42.51 and a 1 year high of $96.93. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.15 and a current ratio of 4.15.

Insider Activity at Perficient

In related news, SVP Kevin Thomas Sheen sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $69.04, for a total value of $47,223.36. Following the sale, the senior vice president now owns 26,533 shares of the company’s stock, valued at $1,831,838.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Perficient news, CEO Thomas J. Hogan sold 8,801 shares of the stock in a transaction that occurred 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 directly owns 193,304 shares in the company, valued at $13,001,627.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin Thomas Sheen sold 684 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 in the company, valued at $1,831,838.32. The disclosure for this sale can be found here. Insiders have sold a total of 13,149 shares of company stock valued at $885,619 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Perficient from a “hold” rating to a “sell” rating in a research note on Tuesday. Scotiabank increased their target price on shares of Perficient from $50.00 to $76.00 and gave the stock a “sector perform” rating in a research note on Monday. William Blair reaffirmed a “market perform” rating on shares of Perficient in a research note on Monday. Alliance Global Partners reaffirmed a “neutral” rating on shares of Perficient in a research note on Tuesday. Finally, Maxim Group reaffirmed a “hold” rating and set a $76.00 target price on shares of Perficient in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.43.

Perficient Company Profile

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.