NEW YORK, June 12, 2024 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Perficient, Inc. (NASDAQ: PRFT) to an affiliate of BPEA Private Equity Fund VIII for $76.00 per share in cash is fair to Perficient shareholders. The investigation concerns whether Perficient and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible considera ...

On May 5, 2024, Perficient announced that it had agreed to be acquired by private investment entity BPEA Private Equity Fund VIII at a price of $76.00 per share in cash. Following the closing of the proposed transaction, Perficient's current stockholders will be cashed out of their investment position and the company's shares will no longer be publicly traded. Perficient shareholders who believe the buyout price is too low are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, ...

Click here for more information https://monteverdelaw.com/case/perficient-inc/. It is free and there is no cost or obligation to you. Before you hire a law firm, you should talk to a lawyer and ask: About Monteverde & Associates PC NEW YORK, June 11, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Bui ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-15169 PERFICIENT, INC. (Exact name of registrant as specified in its charter) Delaware No. 74-2853258 (State or other jurisdictio ...

EXHIBIT 99.1 For more information, please contact: Bill Davis, Perficient, 314-529-3555 bill.davis@perficient.com PERFICIENT REPORTS FIRST QUARTER 2024 RESULTS Company enters into definitive agreement to be acquired by EQT for approximately $3 Billion ST. LOUIS (May 5, 2024) - Perficient, Inc. (Nasdaq: PRFT) ("Perficient"), the leading global digital consultancy transforming the world's largest enterprises and biggest brands, today reported its financial results for the quarter ended March 31, 2024. Financi ...

joined Perficient are based in Romania. And with these new team members, nearly 60% of our billable head count is now located outside of the United States. We continue to remain well-diversified from a customer, industry and platform perspective. Healthcare and financial services remain the strongest verticals, but we're also excited about our momentum in both manufacturing and automotive. I will say clients across each of our industry verticals weÂ're expressing strong interest in our perspective and capab ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark one) ☑ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2023 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission file number 001-15169 PERFICIENT, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware No. 74-2853258 (State or other jurisdiction of incorporation or organization) (I.R. ...

EXHIBIT 99.1 For more information, please contact: Bill Davis, Perficient, 314-529-3555 bill.davis@perficient.com PERFICIENT REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS ST. LOUIS (February 27, 2024) - Perficient, Inc. (Nasdaq: PRFT) ("Perficient"), the leading global digital consultancy transforming the world's largest enterprises and biggest brands, today reported its financial results for the quarter and year ended December 31, 2023. Financial Highlights For the quarter ended December 31, 2023: For ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-15169 PERFICIENT, INC. (Exact name of registrant as specified in its charter) Delaware No. 74-2853258 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 555 Maryville University Drive Suite 600 Saint Louis, Missouri 63141 (Addr ...

Financial Data and Key Metrics - Adjusted EBITDA for Q3 2023 was $45.8 million, or 20.5% of revenues, compared to $53 million, or 23.3% of revenues in the prior year [12] - Net income for Q3 2023 was $22.6 million, compared to $23 million in the prior year, with diluted GAAP earnings per share decreasing to $0.63 from $0.64 [42] - Adjusted earnings per share for Q3 2023 decreased to $0.92 from $1.11 in the prior year [42] - SG&A expense for Q3 2023 was $42.1 million, or 18.9% of revenues, compared to $44.3 million, or 19.5% in the prior year [30] - Operating cash flows for the nine months ended September 30, 2023, increased to $88.5 million from $71.4 million in the prior year [32] Business Line Data and Key Metrics - The company booked 37 deals greater than $1 million in Q3 2023, flat year-over-year and down negligibly from 38 deals in Q2 2023 [25] - Healthcare and financial services remain the strongest verticals, with momentum also seen in manufacturing and automotive [26] - The company is collaborating with several large brands on their EV go-to-market initiatives and seeing interest from new automakers [8] - The company has delivered multiple AI solutions to clients, with dozens of additional POCs underway [9] Market Data and Key Metrics - Nearly 30% of the company's revenue in Q3 2023 was delivered by teams outside the United States, the highest mark in its history [90] - The company is leveraging its acquisition of SMEDIX to expand its presence in the healthcare space and introduce its capabilities to SMEDIX's legacy customer base [6] - The company is focusing on building a stronger presence in EMEA, with Romania serving as a key hub for expansion [91] Company Strategy and Industry Competition - The company aims to run the business near 40% gross margins and has taken steps to improve utilization across all regions [5] - The company is prioritizing branding investments to increase awareness and compete more effectively with larger firms [10] - The company is leveraging its partnerships with leading technology innovators like Microsoft, Adobe, and Salesforce to provide clients with class-leading digital technologies [4][89] - The company is exploring over 30 potential applications for generative AI and working with clients to identify new AI use cases [27] Management Commentary on Operating Environment and Future Outlook - Management is confident that Q2 2023 represented a bottom in terms of profitability and expects demand to improve in 2024, with potential growth in large programs [5][17] - The company expects Q4 2023 revenue to be in the range of $221 million to $226 million, with adjusted earnings per share expected to be between $0.98 and $1.03 [33] - Full-year 2023 revenue is expected to be in the range of $907 million to $912 million, with adjusted earnings per share between $3.94 and $3.99 [33] - Management is optimistic about the potential for generative AI to create efficiencies in areas like software testing and content development, though code generation is still a ways off [76] Other Important Information - The company recently completed a project to help a utility company implement an in-house supply chain function to reduce costs and installation time for EV charging sites [93] - The company has promoted seven executives to senior vice president roles and will operate without a COO going forward [94] - The company has been named a top workplace in 11 different markets and received high participation and positive feedback in its annual colleagues feedback program [23] Summary of Q&A Session Question: Demand trends and inflection point for growth - Management noted that demand is currently reserved, with many clients looking toward 2024 for potential growth. The company is chasing several large programs expected to ramp up in mid-2024 and into 2025 [17][45] Question: Utilization and gross margins - Utilization improved in Q3 2023, particularly offshore, and the company aims to run at 80% utilization. Gross margins are expected to be in the high 30s for Q4 2023, with a goal of returning to 40% [39][48] Question: Bill rates and pricing - Bill rates increased by 1.4% in Q3 2023, with higher increases offshore. Management expects moderate growth in bill rates going forward but does not anticipate substantial increases [40][75] Question: Generative AI impact - Management believes generative AI will create efficiencies in areas like software testing and content development but does not expect meaningful impact from code generation for several years [76] Question: Cloud migration trends - The company is seeing more work focused on cloud optimization and new product development in the cloud rather than on-premise migrations [61][69] Question: EV and automation sector work - The company is involved in various projects in the EV sector, including e-commerce, dealer experience, in-car technology, and infrastructure for EV networks [72]