Perficient (PRFT) to Buyback $25.00 million in Shares

Perficient (NASDAQ:PRFT) declared that its board has approved a stock repurchase plan, which allows the company to repurchase $25.00 million in outstanding shares on Thursday, March 1st. This repurchase authorization allows the digital transformation consultancy to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Several research firms recently commented on PRFT. BidaskClub lowered Perficient from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. TheStreet raised Perficient from a “c+” rating to a “b-” rating in a report on Friday, January 26th. Zacks Investment Research lowered Perficient from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. Needham & Company LLC reissued a “buy” rating and issued a $25.00 target price on shares of Perficient in a report on Thursday, March 1st. Finally, ValuEngine raised Perficient from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.00.

How to Become a New Pot Stock Millionaire

Shares of Perficient (PRFT) traded up $0.39 during mid-day trading on Thursday, hitting $22.92. The company’s stock had a trading volume of 265,605 shares, compared to its average volume of 252,723. The stock has a market capitalization of $787.92, a price-to-earnings ratio of 41.67 and a beta of 0.80. Perficient has a 12 month low of $16.20 and a 12 month high of $24.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.11 and a current ratio of 2.11.

Perficient (NASDAQ:PRFT) last issued its quarterly earnings data on Thursday, March 1st. The digital transformation consultancy reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. The company had revenue of $133.48 million for the quarter, compared to analyst estimates of $119.70 million. Perficient had a return on equity of 8.90% and a net margin of 3.83%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 earnings per share. research analysts forecast that Perficient will post 1.11 EPS for the current fiscal year.

In other Perficient news, CEO Jeffrey S. Davis sold 4,649 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $23.88, for a total transaction of $111,018.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Paul E. Martin sold 18,774 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $23.21, for a total value of $435,744.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,836 shares of company stock worth $2,115,017. Corporate insiders own 3.70% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was first published by BBNS and is the property of of BBNS. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://baseballnewssource.com/2018/03/29/perficient-prft-to-buyback-25-00-million-in-shares/1970550.html.

About Perficient

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.

Receive News & Ratings for Perficient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perficient and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Almora Jr. and Baez Could Become Cubs new One-Two Tandem
Almora Jr. and Baez Could Become Cubs new One-Two Tandem
Red Sox Tie Record for Best Start After 17 Games
Red Sox Tie Record for Best Start After 17 Games
Bryce Harper Hits 406-Foot Home Run While Breaking His Bat
Bryce Harper Hits 406-Foot Home Run While Breaking His Bat
Rick Porcello’s Strong Start Gives Boost to Red Sox
Rick Porcello’s Strong Start Gives Boost to Red Sox
Two Bench Clearing Incidents Revive Red Sox-Yankees Rivalry
Two Bench Clearing Incidents Revive Red Sox-Yankees Rivalry
Xander Bogaerts Goes on Red Sox DL
Xander Bogaerts Goes on Red Sox DL


Leave a Reply

 
© 2006-2018 BBNS.