Perficient (PRFT) Releases FY19 Earnings Guidance

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Perficient (NASDAQ:PRFT) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.82-1.94 for the period, compared to the Thomson Reuters consensus estimate of $1.87. The company issued revenue guidance of $545-570 million, compared to the consensus revenue estimate of $547.21 million.Perficient also updated its Q2 guidance to $0.46-0.49 EPS.

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

Shares of Perficient stock traded up $0.45 on Wednesday, reaching $32.05. The stock had a trading volume of 3,957 shares, compared to its average volume of 240,115. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.39. Perficient has a fifty-two week low of $20.92 and a fifty-two week high of $32.92. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 2.03 and a beta of 0.96.

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, topping the Zacks’ consensus estimate of $0.31 by $0.12. Perficient had a net margin of 5.21% and a return on equity of 11.50%. The business had revenue of $133.82 million during the quarter, compared to analysts’ expectations of $131.10 million. During the same period in the previous year, the company earned $0.35 earnings per share. Perficient’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, research analysts predict that Perficient will post 1.44 earnings per share for the current year.

In related news, Chairman Jeffrey S. Davis sold 78,296 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $30.43, for a total transaction of $2,382,547.28. Following the completion of the transaction, the chairman now directly owns 532,389 shares in the company, valued at approximately $16,200,597.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey S. Davis sold 900 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $29.62, for a total transaction of $26,658.00. Following the transaction, the chief executive officer now owns 532,389 shares of the company’s stock, valued at $15,769,362.18. The disclosure for this sale can be found here. Insiders sold 320,357 shares of company stock valued at $9,388,058 over the last 90 days. 2.90% of the stock is owned by corporate 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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