Brokerages Expect Perficient, Inc. (NASDAQ:PRFT) Will Announce Quarterly Sales of $219.33 Million

Wall Street brokerages expect Perficient, Inc. (NASDAQ:PRFTGet Rating) to announce sales of $219.33 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Perficient’s earnings, with the highest sales estimate coming in at $219.99 million and the lowest estimate coming in at $218.00 million. Perficient reported sales of $169.34 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 29.5%. The firm is expected to report its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Perficient will report full-year sales of $929.16 million for the current fiscal year, with estimates ranging from $919.40 million to $938.10 million. For the next fiscal year, analysts forecast that the firm will report sales of $1.07 billion, with estimates ranging from $1.06 billion to $1.08 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Perficient.

Perficient (NASDAQ:PRFTGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The digital transformation consultancy reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. Perficient had a return on equity of 24.49% and a net margin of 6.84%. The firm had revenue of $214.73 million for the quarter, compared to analysts’ expectations of $207.17 million. During the same period in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year.

Several brokerages recently weighed in on PRFT. TheStreet lowered Perficient from a “b” rating to a “c+” rating in a report on Thursday, February 24th. Alliance Global Partners decreased their price objective on Perficient from $138.00 to $122.00 in a report on Monday, February 28th. Zacks Investment Research cut Perficient from a “buy” rating to a “hold” rating in a research note on Saturday, March 5th. StockNews.com began coverage on Perficient in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Needham & Company LLC reduced their target price on Perficient from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $133.50.

In related news, Director Gary Wimberly purchased 399 shares of Perficient stock in a transaction on Monday, February 28th. The stock was acquired at an average price of $100.00 per share, for a total transaction of $39,900.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Cooper Financial Group boosted its stake in Perficient by 2.4% during the first quarter. Cooper Financial Group now owns 4,442 shares of the digital transformation consultancy’s stock valued at $489,000 after buying an additional 105 shares during the last quarter. Nordea Investment Management AB increased its holdings in Perficient by 3.1% during the 1st quarter. Nordea Investment Management AB now owns 143,593 shares of the digital transformation consultancy’s stock worth $16,263,000 after purchasing an additional 4,315 shares during the period. Confluence Investment Management LLC increased its holdings in Perficient by 1.8% during the 1st quarter. Confluence Investment Management LLC now owns 32,161 shares of the digital transformation consultancy’s stock worth $3,541,000 after purchasing an additional 571 shares during the period. Values First Advisors Inc. purchased a new position in shares of Perficient in the 4th quarter valued at $710,000. Finally, Norges Bank purchased a new position in shares of Perficient in the 4th quarter valued at $57,318,000. 95.62% of the stock is owned by institutional investors.

Shares of Perficient stock traded up $3.13 during trading hours on Friday, hitting $111.00. 206,381 shares of the company’s stock traded hands, compared to its average volume of 289,719. Perficient has a 12-month low of $62.33 and a 12-month high of $153.28. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 73.51, a PEG ratio of 1.59 and a beta of 1.51. The company has a fifty day simple moving average of $105.26 and a 200-day simple moving average of $117.76. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.79 and a quick ratio of 1.79.

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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