Perficient (NASDAQ:PRFT) Issues FY 2022 Earnings Guidance

Perficient (NASDAQ:PRFTGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $4.24-$4.36 for the period, compared to the consensus EPS estimate of $4.27. The company issued revenue guidance of $917.00 million-$942.00 million, compared to the consensus revenue estimate of $927.58 million.Perficient also updated its Q2 2022 guidance to $1.04-$1.07 EPS.

A number of equities analysts have commented on PRFT shares. Needham & Company LLC lowered their price objective on Perficient from $155.00 to $145.00 and set a buy rating on the stock in a research note on Friday, February 25th. Zacks Investment Research raised Perficient from a hold rating to a buy rating and set a $112.00 price target for the company in a research note on Thursday, April 28th. Morgan Stanley initiated coverage on shares of Perficient in a research note on Tuesday, April 26th. They set an equal weight rating and a $120.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Perficient from $138.00 to $133.00 in a research report on Friday, April 29th. Finally, Maxim Group reaffirmed a buy rating and set a $140.00 price target on shares of Perficient in a report on Friday, April 29th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $128.00.

Shares of NASDAQ PRFT opened at $92.13 on Tuesday. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 49.80, a PEG ratio of 1.43 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 12 month low of $66.36 and a 12 month high of $153.28. The stock has a 50-day moving average price of $105.67 and a two-hundred day moving average price of $115.18.

Perficient (NASDAQ:PRFTGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The digital transformation consultancy reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03. The company had revenue of $222.11 million for the quarter, compared to analyst estimates of $219.66 million. Perficient had a net margin of 8.07% and a return on equity of 27.60%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. On average, sell-side analysts predict that Perficient will post 3.75 earnings per share for the current year.

In other news, Director Gary Wimberly acquired 399 shares of Perficient stock in a transaction that occurred on Monday, February 28th. The shares were acquired at an average price of $100.00 per share, for a total transaction of $39,900.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Morgan Stanley increased its position in Perficient by 8.5% in the 2nd quarter. Morgan Stanley now owns 342,940 shares of the digital transformation consultancy’s stock valued at $27,578,000 after acquiring an additional 26,759 shares during the period. UBS Group AG lifted its holdings in shares of Perficient by 148.0% during the third quarter. UBS Group AG now owns 24,153 shares of the digital transformation consultancy’s stock worth $2,795,000 after purchasing an additional 14,414 shares during the period. Barclays PLC grew its stake in shares of Perficient by 230.5% in the fourth quarter. Barclays PLC now owns 112,840 shares of the digital transformation consultancy’s stock worth $14,590,000 after purchasing an additional 78,699 shares during the last quarter. LPL Financial LLC acquired a new stake in Perficient in the fourth quarter valued at $807,000. Finally, Guggenheim Capital LLC raised its position in Perficient by 7.4% during the 4th quarter. Guggenheim Capital LLC now owns 2,295 shares of the digital transformation consultancy’s stock worth $297,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.

About Perficient (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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