Perficient (NASDAQ:PRFT) Releases FY22 Earnings Guidance

Perficient (NASDAQ:PRFTGet Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.24-4.36 for the period, compared to the consensus estimate of $4.30. The company issued revenue guidance of $907-923 million, compared to the consensus revenue estimate of $932.62 million. Perficient also updated its FY 2022 guidance to $4.24-$4.36 EPS.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Scotiabank assumed coverage on Perficient in a research note on Thursday, June 30th. They issued a sector outperform rating and a $110.00 target price for the company. William Blair reaffirmed an outperform rating on shares of Perficient in a research report on Thursday, June 9th. JPMorgan Chase & Co. dropped their price target on shares of Perficient from $133.00 to $123.00 in a research report on Wednesday, July 20th. Maxim Group reaffirmed a buy rating and issued a $140.00 price target on shares of Perficient in a research report on Friday. Finally, Needham & Company LLC dropped their price target on shares of Perficient from $145.00 to $120.00 and set a buy rating on the stock in a research report on Friday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $122.71.

Perficient Stock Performance

Shares of Perficient stock traded down $4.27 during mid-day trading on Friday, hitting $88.81. 302,068 shares of the stock were exchanged, compared to its average volume of 178,504. Perficient has a 12 month low of $86.24 and a 12 month high of $153.28. The company has a 50-day simple moving average of $95.53 and a 200 day simple moving average of $100.37. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.38 and a current ratio of 2.67. The company has a market capitalization of $3.08 billion, a P/E ratio of 41.70, a P/E/G ratio of 1.37 and a beta of 1.47.

Perficient (NASDAQ:PRFTGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The digital transformation consultancy reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.14. Perficient had a net margin of 9.01% and a return on equity of 30.67%. The company had revenue of $222.74 million during the quarter, compared to analyst estimates of $228.07 million. During the same quarter last year, the business posted $0.71 EPS. Perficient’s quarterly revenue was up 21.0% compared to the same quarter last year. Sell-side analysts anticipate that Perficient will post 3.76 earnings per share for the current fiscal year.

Insider Transactions at Perficient

In other news, Director Ralph C. Derrickson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $96.15, for a total transaction of $480,750.00. Following the completion of the sale, the director now owns 37,281 shares in the company, valued at approximately $3,584,568.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Capital International Investors grew its position in shares of Perficient by 59.7% during the 1st quarter. Capital International Investors now owns 429,965 shares of the digital transformation consultancy’s stock valued at $47,335,000 after purchasing an additional 160,757 shares in the last quarter. Sawgrass Asset Management LLC purchased a new position in shares of Perficient during the 1st quarter valued at $345,000. Virtu Financial LLC purchased a new position in shares of Perficient during the 1st quarter valued at $237,000. Lido Advisors LLC grew its position in shares of Perficient by 9.8% during the 1st quarter. Lido Advisors LLC now owns 3,190 shares of the digital transformation consultancy’s stock valued at $351,000 after purchasing an additional 285 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Perficient during the 1st quarter valued at $1,348,000. 89.37% of the stock is currently owned by hedge funds and other institutional investors.

About Perficient

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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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