Zacks: Analysts Anticipate Perficient, Inc. (NASDAQ:PRFT) Will Post Quarterly Sales of $228.11 Million

Equities research analysts expect Perficient, Inc. (NASDAQ:PRFTGet Rating) to report sales of $228.11 million for the current quarter, Zacks reports. Five analysts have made estimates for Perficient’s earnings. The lowest sales estimate is $226.72 million and the highest is $230.20 million. Perficient reported sales of $184.14 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.9%. The business is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Perficient will report full-year sales of $933.09 million for the current year, with estimates ranging from $929.79 million to $940.40 million. For the next fiscal year, analysts forecast that the company will report sales of $1.07 billion, with estimates ranging from $1.05 billion to $1.09 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Perficient.

Perficient (NASDAQ:PRFTGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The digital transformation consultancy reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. Perficient had a return on equity of 27.60% and a net margin of 8.07%. The company had revenue of $222.11 million for the quarter, compared to analyst estimates of $219.66 million. During the same quarter in the previous year, the company earned $0.63 EPS. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year.

PRFT has been the topic of several research analyst reports. Maxim Group reissued a “buy” rating and set a $140.00 price target on shares of Perficient in a research note on Friday, April 29th. JPMorgan Chase & Co. decreased their price target on Perficient from $138.00 to $133.00 in a research note on Friday, April 29th. Barrington Research decreased their price target on Perficient from $150.00 to $124.00 in a research note on Friday, February 25th. StockNews.com initiated coverage on Perficient in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Alliance Global Partners reduced their target price on Perficient from $138.00 to $122.00 in a research note on Monday, February 28th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $127.29.

Shares of PRFT opened at $96.81 on Thursday. The stock’s 50 day moving average is $104.66 and its two-hundred day moving average is $113.46. The firm has a market capitalization of $3.35 billion, a PE ratio of 52.33, a P/E/G ratio of 1.42 and a beta of 1.50. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.14. Perficient has a twelve month low of $71.13 and a twelve month high of $153.28.

In other news, Director Gary Wimberly acquired 399 shares of the company’s stock in a transaction dated Monday, February 28th. The stock was acquired at an average cost of $100.00 per share, for a total transaction of $39,900.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PRFT. Dupont Capital Management Corp purchased a new stake in Perficient during the 4th quarter worth $1,468,000. Pinnacle Associates Ltd. purchased a new stake in Perficient during the 4th quarter worth $236,000. Goldman Sachs Group Inc. boosted its position in Perficient by 19.5% during the 3rd quarter. Goldman Sachs Group Inc. now owns 152,603 shares of the digital transformation consultancy’s stock worth $17,657,000 after purchasing an additional 24,855 shares during the period. ARGI Investment Services LLC boosted its position in Perficient by 9.5% during the 4th quarter. ARGI Investment Services LLC now owns 17,660 shares of the digital transformation consultancy’s stock worth $2,283,000 after purchasing an additional 1,537 shares during the period. Finally, MML Investors Services LLC purchased a new position in Perficient in the 3rd quarter valued at about $245,000. Institutional investors and hedge funds own 89.37% of the company’s stock.

Perficient Company Profile (Get Rating)

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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