SunTrust Banks Analysts Lift Earnings Estimates for Perficient, Inc. (NASDAQ:PRFT)

Perficient, Inc. (NASDAQ:PRFT) – Research analysts at SunTrust Banks raised their Q1 2018 earnings per share estimates for Perficient in a research report issued to clients and investors on Sunday. SunTrust Banks analyst F. Atkins now expects that the information technology services provider will earn $0.26 per share for the quarter, up from their prior forecast of $0.25.

Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, August 3rd. The information technology services provider reported $0.29 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Perficient had a net margin of 3.08% and a return on equity of 7.42%. The business had revenue of $117 million for the quarter, compared to analyst estimates of $119.21 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year.

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Other research analysts also recently issued research reports about the company. Maxim Group set a $20.00 price target on Perficient and gave the company a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised Perficient from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Thursday, May 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Perficient presently has an average rating of “Hold” and an average price target of $20.33.

Perficient (PRFT) traded down 0.17% during midday trading on Wednesday, hitting $17.63. 44,778 shares of the stock traded hands. The stock has a market capitalization of $621.40 million, a PE ratio of 35.19 and a beta of 0.86. Perficient has a 12-month low of $14.15 and a 12-month high of $21.19. The firm’s 50 day moving average is $18.31 and its 200-day moving average is $17.69.

A number of hedge funds and other institutional investors have recently bought and sold shares of PRFT. BNP Paribas Arbitrage SA increased its position in Perficient by 10.8% in the first quarter. BNP Paribas Arbitrage SA now owns 6,521 shares of the information technology services provider’s stock worth $113,000 after buying an additional 637 shares during the period. Victory Capital Management Inc. increased its position in Perficient by 31.1% in the first quarter. Victory Capital Management Inc. now owns 6,860 shares of the information technology services provider’s stock worth $119,000 after buying an additional 1,629 shares during the period. State of Alaska Department of Revenue increased its position in Perficient by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 6,942 shares of the information technology services provider’s stock worth $129,000 after buying an additional 3,032 shares during the period. Acrospire Investment Management LLC increased its position in Perficient by 525.7% in the first quarter. Acrospire Investment Management LLC now owns 7,771 shares of the information technology services provider’s stock worth $135,000 after buying an additional 6,529 shares during the period. Finally, Mason Street Advisors LLC increased its position in Perficient by 5.1% in the first quarter. Mason Street Advisors LLC now owns 8,282 shares of the information technology services provider’s stock worth $144,000 after buying an additional 403 shares during the period. 76.38% of the stock is owned by institutional investors and hedge funds.

About Perficient

Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.

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