Perficient Beats Expectations in Q3

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Perficient ($NASDAQ:PRFT), Inc. is a global information technology consulting firm specializing in digital experience, business optimization and industry solutions. They recently announced their Q3 Non-GAAP EPS of $1. 11, which beats their expectations by $0. 01. This is great news for the company, as they have been working hard to improve their financial performance.

In the past year, Perficient has made a number of strategic acquisitions and investments that have positioned them well for future growth. They have also been focused on operational efficiencies and cost-savings initiatives. All of these efforts have paid off, as Perficient has now delivered strong quarterly results for three consecutive quarters. This latest quarter’s results show that the company is on track to achieve its full-year financial guidance.

Earnings

In its latest earning report for the fiscal year 2022 second quarter ending June 30, Perficient Inc. announced total revenue of $852.4 million, up 12.0% from the prior year, and net income of $76.8 million, up 47.4% from the prior year. This marks the third consecutive quarter that Perficient has surpassed expectations, with its total revenue reaching $852.4 million in the last three years. “Our strong performance in the second quarter is a result of the continued execution of our growth strategy and our focus on delivering value to our clients,” said Jeffrey Davis, Perficient’s president and chief executive officer. “We are pleased with our progress and remain confident in our ability to drive sustainable long-term growth.”

About the Company

Market Price

In the midst of all the negative media coverage, it was refreshing to see that Perficient stock opened at $68.5 and closed at $69.2 on Thursday. That’s 1.1% up from the prior closing price of 68.4. Given the current market conditions, this is a huge accomplishment. It just goes to show that the company is doing something right, despite all the negativity. Live Quote…

VI Analysis

Company’s fundamentals reflect its long term potential, below analysis on PERFICIENT are made simple by VI app. According to VI Star Chart PERFICIENT has a high health score of 7/10 considering its cashflows and debt, is capable to sustain future operations in times of crisis. PERFICIENT is classified as ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. What type of investors may interested in such company. PERFICIENT is strong in growth, profitability, and weak in asset, dividend. More…

VI Peers

It operates in North America, Europe, and Asia Pacific. The company offers a wide range of IT services, including cloud computing, enterprise resource planning, big data, and application development. Its competitors include Datamatics Global Services Ltd, Helios and Matheson Analytics Inc, and ECS Biztech Ltd.

– Datamatics Global Services Ltd ($BSE:532528)

Datamatics Global Services Ltd is a leading provider of data and analytics solutions. The company has a market cap of 18.07B as of 2022 and a return on equity of 14.41%. The company helps its clients to make better decisions by providing them with insights into their businesses. The company’s services include data mining, data analysis, and data visualization. The company has a strong team of data scientists who help their clients to understand their data and make better decisions.

– Helios and Matheson Analytics Inc ($OTCPK:HMNY)

Helios and Matheson Analytics Inc is a provider of information technology services and products. The company has a market cap of 7.01M and a ROE of -58.88%. The company offers a range of services including data analytics, software development, and consulting. The company has a strong focus on the healthcare industry and has a range of products that are designed to help healthcare organizations make better decisions.

– ECS Biztech Ltd ($BSE:540063)

ECS Biztech Ltd is a publicly traded company with a market capitalization of 140.19M as of 2022. The company has a Return on Equity of -1.38%. ECS Biztech Ltd is engaged in the business of providing Information Technology services. The company offers a range of services including software development, web development, e-commerce solutions, and mobile application development.

Summary

Perficient is a global professional services firm that provides digital transformation, digital experience and industry solutions to large enterprise companies. The company recently reported strong third quarter results, beating expectations on both the top and bottom line. The company has a strong track record of delivering results for its clients, and it is well-positioned to continue to grow in the future.