$128.79 Million in Sales Expected for Perficient, Inc. (PRFT) This Quarter

Equities research analysts forecast that Perficient, Inc. (NASDAQ:PRFT) will post sales of $128.79 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Perficient’s earnings, with the lowest sales estimate coming in at $128.03 million and the highest estimate coming in at $129.34 million. Perficient reported sales of $133.48 million in the same quarter last year, which indicates a negative year-over-year growth rate of 3.5%. The business is scheduled to issue its next earnings report on Thursday, March 7th.

On average, analysts expect that Perficient will report full year sales of $495.47 million for the current year, with estimates ranging from $494.70 million to $496.01 million. For the next financial year, analysts anticipate that the firm will post sales of $527.95 million, with estimates ranging from $525.59 million to $530.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Perficient.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings results on Thursday, November 1st. The digital transformation consultancy reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.11. Perficient had a return on equity of 10.69% and a net margin of 4.70%. The company had revenue of $123.90 million for the quarter, compared to analyst estimates of $124.91 million. During the same quarter last year, the company posted $0.34 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year.

A number of equities research analysts recently weighed in on PRFT shares. BidaskClub upgraded Perficient from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. SunTrust Banks boosted their price objective on Perficient to $33.00 and gave the stock a “buy” rating in a research report on Friday, September 14th. Maxim Group started coverage on Perficient in a research report on Tuesday, October 2nd. They set a “buy” rating and a $34.00 price objective on the stock. Barrington Research started coverage on Perficient in a research report on Wednesday, October 10th. They set an “outperform” rating and a $31.00 price objective on the stock. Finally, Zacks Investment Research lowered Perficient from a “hold” rating to a “sell” rating in a research report on Thursday, November 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $30.83.

In related news, Director James R. Kackley purchased 1,000 shares of Perficient stock in a transaction on Tuesday, November 13th. The shares were purchased at an average price of $25.16 per share, for a total transaction of $25,160.00. Following the transaction, the director now owns 41,019 shares of the company’s stock, valued at approximately $1,032,038.04. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRFT. BlackRock Inc. grew its position in shares of Perficient by 9.9% in the 2nd quarter. BlackRock Inc. now owns 4,927,517 shares of the digital transformation consultancy’s stock valued at $129,937,000 after buying an additional 443,431 shares during the last quarter. Rothschild Asset Management Inc. bought a new stake in shares of Perficient in the 2nd quarter valued at about $8,104,000. KAMES CAPITAL plc bought a new stake in shares of Perficient in the 3rd quarter valued at about $6,839,000. Systematic Financial Management LP grew its position in shares of Perficient by 388.7% in the 2nd quarter. Systematic Financial Management LP now owns 302,431 shares of the digital transformation consultancy’s stock valued at $7,975,000 after buying an additional 240,541 shares during the last quarter. Finally, Federated Investors Inc. PA grew its position in shares of Perficient by 77,304.3% in the 2nd quarter. Federated Investors Inc. PA now owns 233,761 shares of the digital transformation consultancy’s stock valued at $6,164,000 after buying an additional 233,459 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.

Shares of PRFT traded up $0.14 during midday trading on Friday, hitting $25.45. The company’s stock had a trading volume of 169,500 shares, compared to its average volume of 217,367. Perficient has a one year low of $18.23 and a one year high of $31.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.93 and a current ratio of 2.93. The firm has a market cap of $839.83 million, a price-to-earnings ratio of 26.79, a PEG ratio of 1.92 and a beta of 0.80.

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, 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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