Perficient (PRFT) Updates Q2 Earnings Guidance

Perficient (NASDAQ:PRFT) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.46-0.49 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.48. The company issued revenue guidance of $135-140 million, compared to the consensus revenue estimate of $135.38 million.Perficient also updated its FY19 guidance to $1.82-1.94 EPS.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Perficient from a buy rating to a hold rating in a research report on Wednesday, May 1st. Maxim Group restated a buy rating and issued a $37.00 price target on shares of Perficient in a research report on Wednesday, April 24th. BidaskClub upgraded shares of Perficient from a hold rating to a buy rating in a research report on Thursday, February 14th. Finally, Barrington Research restated a buy rating and issued a $33.00 price target on shares of Perficient in a research report on Wednesday, February 27th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $33.00.

Shares of NASDAQ:PRFT opened at $31.20 on Friday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 25.79, a PEG ratio of 2.05 and a beta of 0.96. Perficient has a fifty-two week low of $20.92 and a fifty-two week high of $32.92. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.82 and a current ratio of 2.82.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Thursday, May 2nd. The digital transformation consultancy reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.12. The firm had revenue of $133.82 million for the quarter, compared to the consensus estimate of $131.10 million. Perficient had a net margin of 5.21% and a return on equity of 11.50%. Perficient’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS. On average, research analysts expect that Perficient will post 1.44 earnings per share for the current fiscal year.

In related news, CFO Paul E. Martin sold 25,000 shares of Perficient stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $27.40, for a total value of $685,000.00. Following the sale, the chief financial officer now directly owns 179,860 shares in the company, valued at approximately $4,928,164. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey S. Davis sold 900 shares of Perficient stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $29.62, for a total transaction of $26,658.00. Following the completion of the sale, the chief executive officer now owns 532,389 shares in the company, valued at $15,769,362.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 320,357 shares of company stock worth $9,388,058. 2.90% of the stock is currently owned by insiders.

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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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Earnings History and Estimates for Perficient (NASDAQ:PRFT)

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