Perficient, Inc. (PRFT) Releases Q2 Earnings Guidance

Perficient, Inc. (NASDAQ:PRFT) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.29-0.31 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.29. Perficient also updated its FY17 guidance to $1.17-1.31 EPS.

Perficient, Inc. (NASDAQ PRFT) traded down 0.97% on Friday, hitting $17.38. 208,519 shares of the company were exchanged. The company has a 50 day moving average price of $17.08 and a 200-day moving average price of $17.64. Perficient, Inc. has a 52 week low of $14.15 and a 52 week high of $22.66. The stock has a market capitalization of $612.59 million, a P/E ratio of 34.69 and a beta of 0.85.

Perficient (NASDAQ:PRFT) last posted its earnings results on Thursday, May 4th. The information technology services provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The business had revenue of $111.02 million for the quarter, compared to analysts’ expectations of $114.23 million. Perficient had a net margin of 3.75% and a return on equity of 7.33%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. On average, equities analysts expect that Perficient, Inc. will post $1.22 earnings per share for the current fiscal year.

Several equities analysts have issued reports on the stock. Needham & Company LLC upped their target price on shares of Perficient from $18.00 to $21.00 and gave the company a buy rating in a research note on Wednesday, March 1st. Zacks Investment Research upgraded shares of Perficient from a hold rating to a buy rating and set a $19.00 target price on the stock in a research note on Friday, May 26th. Maxim Group set a $20.00 target price on shares of Perficient and gave the company a buy rating in a research note on Thursday, May 4th. Finally, TheStreet cut shares of Perficient from a b- rating to a c rating in a research note on Tuesday, February 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $21.75.

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A number of institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC boosted its position in shares of Perficient by 3.2% in the first quarter. Teachers Advisors LLC now owns 88,706 shares of the information technology services provider’s stock valued at $1,540,000 after buying an additional 2,787 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Perficient during the first quarter valued at $1,824,000. Schwab Charles Investment Management Inc. boosted its position in shares of Perficient by 11.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 169,581 shares of the information technology services provider’s stock valued at $2,944,000 after buying an additional 17,692 shares during the period. Morgan Stanley boosted its position in shares of Perficient by 15.6% in the first quarter. Morgan Stanley now owns 225,480 shares of the information technology services provider’s stock valued at $3,916,000 after buying an additional 30,353 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Perficient by 2.5% in the first quarter. Geode Capital Management LLC now owns 274,378 shares of the information technology services provider’s stock valued at $4,763,000 after buying an additional 6,601 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Perficient Company Profile

Perficient, Inc is an information technology and management consulting firm. The Company’s solutions include business intelligence and analytics, commerce, content management, custom applications, platform implementations, portals and collaboration, business integration and application program interfaces, management consulting, business process management, and customer relationship management, among others.

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