Wall Street analysts predict that Perficient, Inc. (NASDAQ:PRFT) will post sales of $131.21 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Perficient’s earnings, with the highest sales estimate coming in at $131.39 million and the lowest estimate coming in at $131.03 million. Perficient posted sales of $120.94 million during the same quarter last year, which suggests a positive year over year growth rate of 8.5%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, May 2nd.
According to Zacks, analysts expect that Perficient will report full year sales of $530.69 million for the current year, with estimates ranging from $530.25 million to $531.02 million. For the next year, analysts expect that the firm will post sales of $557.01 million, with estimates ranging from $551.40 million to $562.53 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Perficient.
Perficient (NASDAQ:PRFT) last announced its earnings results on Tuesday, February 26th. The digital transformation consultancy reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.05. The firm had revenue of $131.70 million during the quarter, compared to analyst estimates of $128.35 million. Perficient had a net margin of 4.93% and a return on equity of 11.23%. Perficient’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS.
A number of brokerages recently issued reports on PRFT. Maxim Group reiterated a “buy” rating and issued a $37.00 target price on shares of Perficient in a research report on Wednesday. Zacks Investment Research upgraded shares of Perficient from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, March 5th. BidaskClub upgraded shares of Perficient from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. Finally, Barrington Research restated a “buy” rating and set a $33.00 price objective on shares of Perficient in a research report on Wednesday, February 27th. Eight research analysts have rated the stock with a buy rating, Perficient has a consensus rating of “Buy” and an average target price of $32.67.
In other Perficient news, CFO Paul E. Martin sold 6,810 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $28.83, for a total value of $196,332.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas J. Hogan sold 3,380 shares of the firm’s stock in a transaction dated Saturday, March 2nd. The stock was sold at an average price of $29.20, for a total transaction of $98,696.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 216,161 shares of company stock valued at $6,206,853. Insiders own 3.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its holdings in shares of Perficient by 51.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,238 shares of the digital transformation consultancy’s stock worth $28,000 after buying an additional 421 shares during the period. First Quadrant L P CA acquired a new position in shares of Perficient in the fourth quarter worth about $68,000. Investors Research Corp acquired a new position in shares of Perficient in the first quarter worth about $101,000. LS Investment Advisors LLC boosted its holdings in shares of Perficient by 581.9% in the fourth quarter. LS Investment Advisors LLC now owns 7,099 shares of the digital transformation consultancy’s stock worth $158,000 after buying an additional 6,058 shares during the period. Finally, Paloma Partners Management Co acquired a new position in shares of Perficient in the third quarter worth about $229,000. Institutional investors own 91.55% of the company’s stock.
PRFT traded up $0.11 on Wednesday, reaching $28.86. The company had a trading volume of 114,300 shares, compared to its average volume of 215,408. The firm has a market capitalization of $931.27 million, a PE ratio of 23.85, a P/E/G ratio of 2.14 and a beta of 0.94. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.34. Perficient has a one year low of $20.92 and a one year high of $31.09.
Perficient Company Profile
Perficient, Inc provides information technology and management consulting services in the United States. The company designs, builds, and delivers solutions using middleware software products developed by third-party vendors. Its solutions include portals and collaboration, such as searchable data systems, collaborative systems for process improvement, transaction processing, unified and extended reporting, commerce, content management, and other services; and platform implementations services, including application server selection, architecture planning, installation and configuration, clustering for availability, performance assessment and issue remediation, security, and technology migrations.
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