Perficient (NASDAQ:PRFT) Updates Q3 Earnings Guidance

Perficient (NASDAQ:PRFTGet Rating) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.08-1.12 for the period, compared to the consensus earnings per share estimate of $1.11. The company issued revenue guidance of $227-233 million, compared to the consensus revenue estimate of $235.80 million. Perficient also updated its FY 2022 guidance to $4.24-$4.36 EPS.

Perficient Stock Performance

PRFT stock traded down $4.27 during trading on Friday, hitting $88.81. The company had a trading volume of 302,068 shares, compared to its average volume of 178,504. The firm has a market cap of $3.08 billion, a PE ratio of 41.70, a price-to-earnings-growth ratio of 1.37 and a beta of 1.47. Perficient has a 1-year low of $86.24 and a 1-year high of $153.28. The firm has a 50-day moving average price of $95.53 and a 200-day moving average price of $100.37. The company has a quick ratio of 2.38, a current ratio of 2.67 and a debt-to-equity ratio of 1.07.

Perficient (NASDAQ:PRFTGet Rating) last released its earnings results on Thursday, August 4th. The digital transformation consultancy reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.14. Perficient had a return on equity of 30.67% and a net margin of 9.01%. The company had revenue of $222.74 million for the quarter, compared to analysts’ expectations of $228.07 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. On average, analysts expect that Perficient will post 3.76 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on PRFT shares. William Blair reiterated an outperform rating on shares of Perficient in a research report on Thursday, June 9th. JPMorgan Chase & Co. dropped their target price on Perficient from $133.00 to $123.00 in a research report on Wednesday, July 20th. Needham & Company LLC decreased their price target on Perficient from $145.00 to $120.00 and set a buy rating on the stock in a research note on Friday. Maxim Group reissued a buy rating and set a $140.00 price target on shares of Perficient in a research note on Friday. Finally, TheStreet raised Perficient from a c+ rating to a b- rating in a research note on Thursday, April 28th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Perficient currently has an average rating of Moderate Buy and a consensus target price of $122.71.

Insider Activity at Perficient

In other Perficient news, Director Ralph C. Derrickson sold 5,000 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $96.15, for a total transaction of $480,750.00. Following the transaction, the director now owns 37,281 shares of the company’s stock, valued at approximately $3,584,568.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Lido Advisors LLC increased its holdings in shares of Perficient by 9.8% during the 1st quarter. Lido Advisors LLC now owns 3,190 shares of the digital transformation consultancy’s stock worth $351,000 after buying an additional 285 shares during the last quarter. Guggenheim Capital LLC increased its holdings in shares of Perficient by 13.6% during the 1st quarter. Guggenheim Capital LLC now owns 2,608 shares of the digital transformation consultancy’s stock worth $287,000 after buying an additional 313 shares during the last quarter. US Bancorp DE increased its holdings in shares of Perficient by 22.2% during the 1st quarter. US Bancorp DE now owns 2,282 shares of the digital transformation consultancy’s stock worth $251,000 after buying an additional 415 shares during the last quarter. Renaissance Group LLC increased its holdings in shares of Perficient by 5.3% during the 1st quarter. Renaissance Group LLC now owns 11,106 shares of the digital transformation consultancy’s stock worth $1,223,000 after buying an additional 557 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in Perficient by 85.7% in the 1st quarter. Captrust Financial Advisors now owns 2,089 shares of the digital transformation consultancy’s stock valued at $230,000 after purchasing an additional 964 shares in the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.

Perficient Company Profile

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Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

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