Perficient (NASDAQ:PRFT) Updates FY22 Earnings Guidance

Perficient (NASDAQ:PRFTGet Rating) updated its FY22 earnings guidance on Thursday. The company provided EPS guidance of $4.24-4.36 for the period, compared to the consensus EPS estimate of $4.30. The company issued revenue guidance of $907-923 million, compared to the consensus revenue estimate of $932.62 million. Perficient also updated its FY 2022 guidance to $4.24-$4.36 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Perficient in a research report on Tuesday, April 26th. They set an equal weight rating and a $120.00 target price for the company. Maxim Group reiterated a buy rating and set a $140.00 price objective on shares of Perficient in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Perficient from $133.00 to $123.00 in a research report on Wednesday, July 20th. Scotiabank began coverage on shares of Perficient in a research report on Thursday, June 30th. They set a sector outperform rating and a $110.00 price objective for the company. Finally, TheStreet upgraded shares of Perficient from a c+ rating to a b- rating in a research report on Thursday, April 28th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Perficient presently has an average rating of Moderate Buy and a consensus target price of $122.71.

Perficient Stock Down 4.6 %

Shares of Perficient stock traded down $4.27 on Friday, reaching $88.81. The stock had a trading volume of 302,068 shares, compared to its average volume of 178,504. The company 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 has a 1 year low of $86.24 and a 1 year high of $153.28. The stock has a market capitalization of $3.08 billion, a P/E ratio of 41.70, a P/E/G ratio of 1.37 and a beta of 1.47.

Perficient (NASDAQ:PRFTGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The digital transformation consultancy reported $1.06 EPS for the quarter, beating the consensus estimate of $0.92 by $0.14. Perficient had a net margin of 9.01% and a return on equity of 30.67%. The business had revenue of $222.74 million during the quarter, compared to analysts’ expectations of $228.07 million. During the same period in the previous year, the business posted $0.71 EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, equities research analysts forecast that Perficient will post 3.76 EPS for the current year.

Insider Transactions at Perficient

In other Perficient news, Director Ralph C. Derrickson sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $96.15, for a total value of $480,750.00. Following the transaction, the director now owns 37,281 shares of the company’s stock, valued at $3,584,568.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Perficient

Several large investors have recently modified their holdings of the company. Captrust Financial Advisors lifted its holdings in Perficient by 85.7% in the first quarter. Captrust Financial Advisors now owns 2,089 shares of the digital transformation consultancy’s stock valued at $230,000 after acquiring an additional 964 shares during the period. Virtu Financial LLC purchased a new position in shares of Perficient in the first quarter valued at $237,000. US Bancorp DE increased its position in shares of Perficient by 22.2% in the first quarter. US Bancorp DE now owns 2,282 shares of the digital transformation consultancy’s stock valued at $251,000 after buying an additional 415 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Perficient by 13.6% in the first quarter. Guggenheim Capital LLC now owns 2,608 shares of the digital transformation consultancy’s stock valued at $287,000 after buying an additional 313 shares in the last quarter. Finally, Sawgrass Asset Management LLC purchased a new position in shares of Perficient in the first quarter valued at $345,000. 89.37% of the stock is owned by institutional investors and hedge funds.

About Perficient

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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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