Research Analysts Offer Predictions for Perficient, Inc.’s FY2023 Earnings (NASDAQ:PRFT)

Perficient, Inc. (NASDAQ:PRFT – Get Rating) – Stock analysts at Barrington Research issued their FY2023 earnings per share (EPS) estimates for Perficient in a research note issued on Wednesday, March 1st. Barrington Research analyst V. Colicchio expects that the digital transformation consultancy will earn $4.17 per share for the year. The consensus estimate for Perficient’s current full-year earnings is $4.09 per share. Barrington Research also issued estimates for Perficient’s FY2024 earnings at $4.61 EPS.

A number of other equities analysts have also commented on the company. Maxim Group reduced their price objective on Perficient from $107.00 to $93.00 in a research note on Wednesday, March 1st. Alliance Global Partners reduced their price objective on Perficient from $81.00 to $77.00 in a research note on Tuesday, February 28th. Needham & Company LLC reduced their price objective on Perficient from $95.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, March 1st. Morgan Stanley reduced their price objective on Perficient from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, January 27th. Finally, JPMorgan Chase & Co. upped their price target on Perficient from $80.00 to $84.00 in a research note on Thursday, December 15th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.00.

Perficient Price Performance

Perficient stock opened at $73.96 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.16 and a current ratio of 1.98. The firm has a market cap of $2.57 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.06 and a beta of 1.53. The business’s fifty day moving average is $74.10 and its two-hundred day moving average is $71.50. Perficient has a 52 week low of $59.78 and a 52 week high of $116.44.

Insider Buying and Selling at Perficient

In other Perficient news, Director David S. Lundeen sold 4,000 shares of the stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $71.42, for a total value of $285,680.00. Following the transaction, the director now owns 34,412 shares of the company’s stock, valued at $2,457,705.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Perficient

Hedge funds have recently added to or reduced their stakes in the stock. Brinker Capital Investments LLC grew its holdings in shares of Perficient by 3.8% during the fourth quarter. Brinker Capital Investments LLC now owns 3,793 shares of the digital transformation consultancy’s stock worth $265,000 after buying an additional 138 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Perficient by 0.6% during the fourth quarter. State of Alaska Department of Revenue now owns 24,112 shares of the digital transformation consultancy’s stock valued at $1,683,000 after purchasing an additional 155 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Perficient by 1.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 13,795 shares of the digital transformation consultancy’s stock valued at $963,000 after purchasing an additional 163 shares during the last quarter. Inspire Investing LLC boosted its position in Perficient by 6.8% during the second quarter. Inspire Investing LLC now owns 2,778 shares of the digital transformation consultancy’s stock valued at $255,000 after purchasing an additional 177 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Perficient by 2.1% during the second quarter. BNP Paribas Arbitrage SA now owns 9,627 shares of the digital transformation consultancy’s stock valued at $883,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

About Perficient

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Perficient, Inc engages in the provision of digital consultancy services. Its service categories include strategy and consulting, data and intelligence, platforms and technology, customer experience and digital marketing, innovation, and product development, and optimized global delivery. The company was founded in 1998 and is headquartered in St.