Perficient, Inc. (PRFT): history, ownership, mission, how it works & makes money

A Brief History of Perficient, Inc. (PRFT)

Foundation and Early Years

Perficient, Inc. was founded in 1998 in Houston, Texas. The company began as a small consulting firm focused on delivering technology-driven solutions for businesses.

Initial Public Offering

In 2010, Perficient went public, listing on the NASDAQ under the ticker symbol PRFT. The IPO raised approximately $33 million by offering 4.5 million shares at a price of $7.50 per share.

Acquisitions and Growth

Over the years, Perficient has expanded its services through strategic acquisitions. Notable acquisitions include:

• 2011: Acquired Keller Williams Realty’s technology and development services for $10 million.
• 2013: Acquired iDiscovery Solutions for $18 million, enhancing its digital marketing capabilities.
• 2016: Purchased Gainsight for $34 million, diversifying its portfolio into customer success solutions.

Financial Performance

Perficient has displayed strong financial performance over the years. For the fiscal year ended December 31, 2022, the company reported:

Market Presence and Services Offered

As of 2023, Perficient operates in multiple industries, providing services such as:

• Digital Experience
• Data & Analytics
• Cloud Solutions
• Customer Experience
• Enterprise Integration

Recent Developments

In 2023, Perficient announced a partnership with Microsoft to enhance its cloud services offerings. This collaboration is expected to generate an additional $20 million in revenue by the end of 2024.

Stock Performance

As of October 2023, the stock price of PRFT is approximately $59.22, with a market capitalization of around $2.24 billion. The stock has had a year-to-date increase of 25%.

A Who Owns Perficient, Inc. (PRFT)

Institutional Ownership

As of the latest data, institutional ownership of Perficient, Inc. stands at approximately 85%. Major institutional shareholders include:

Insider Ownership

Insider ownership represents a significant portion of Perficient’s equity, amounting to approximately 5.2%. Key insiders include:

Major Shareholders

The following table lists the top individual shareholders of Perficient:

Recent Stock Performance

As of September 30, 2023, the stock price of Perficient, Inc. is approximately $55.30. Below are the financial metrics reflecting the performance:

Recent Changes in Ownership

Recent reports indicate some changes in ownership during the last quarter:

• BlackRock increased its stake by 1.2%.
• Dimensional Fund Advisors decreased its holdings by 0.8%.
• Wellington Management Group has maintained its ownership.

Summary of Ownership Structure

The ownership structure of Perficient exhibits a healthy mix of institutional and insider stakeholders, contributing to significant stability in shareholder representation:

Perficient, Inc. (PRFT) Mission Statement

Company Overview

Perficient, Inc. is a leading technology and management consulting firm based in the United States. As of 2023, the company has reported an annual revenue of approximately $550 million.

Mission Statement

Perficient’s mission statement emphasizes a commitment to delivering exceptional client outcomes through innovative technology solutions, strategic consulting, and digital transformation services.

Core Values

Perficient stands by its core values which include:

• Client Success: Prioritizing the needs and outcomes of clients.
• Integrity: Upholding transparency and honesty in business dealings.
• Collaboration: Encouraging teamwork among employees and with clients.
• Innovation: Fostering a culture that embraces change and new ideas.

Financial Performance

As of Q3 2023, financial highlights for Perficient, Inc. are as follows:

Strategic Goals

Perficient’s strategic goals include:

• Expansion: Grow operations in emerging markets and sectors.
• Innovation Leadership: Invest in research and development to stay at the forefront of technology.
• Client Diversification: Expand client base across various industries.

Recent Achievements

In 2023, Perficient celebrated several achievements:

• Industry Recognition: Named a leader in digital transformation by Gartner.
• Client Successes: Successfully completed over 500 digital transformation projects.
• Sustainability Initiatives: Reduced carbon footprint by 20% year-over-year.

Conclusion Statement

The mission statement of Perficient, Inc. encapsulates its dedication to maximizing client experiences through innovative solutions, emphasizing its enduring commitment to excellence and strategic growth.

How Perficient, Inc. (PRFT) Works

Business Model

Perficient, Inc. operates as a digital consultancy that provides technology and management consulting services. The company specializes in combining strategy, technology, and operations to drive digital transformation for its clients across various sectors.

Market Segments

Perficient focuses on multiple market segments, including:

• Healthcare
• Financial Services
• Retail
• Manufacturing
• Government

Financial Performance

As of the most recent financial reporting in Q2 2023, Perficient reported:

• Revenue: $188 million
• Net Income: $22 million
• EBITDA: $32 million
• Gross Margin: 40%
• Operating Margin: 15%

Client Engagement

Perficient's client base includes over 2,200 clients, ranging from Fortune 500 companies to small businesses, with notable partnerships including:

• Microsoft
• IBM
• Salesforce
• Oracle

Employee Workforce

Perficient employs approximately 4,000 professionals worldwide, which includes:

• Consultants: 2,500
• Technical Staff: 1,200
• Support Staff: 300

Operational Locations

Perficient has operational offices in several locations:

• United States
• Canada
• Mexico
• India

Stock Performance

As of October 2023, Perficient's stock (PRFT) has had the following performance metrics:

• Current Stock Price: $72.50
• Market Capitalization: $2.5 billion
• P/E Ratio: 32.5
• 52-Week High: $84.00
• 52-Week Low: $56.50

Financial Summary Table

Growth Strategy

Perficient's growth strategy includes:

• Expanding service offerings
• Entering new markets
• Acquiring niche consulting firms
• Investing in technology partnerships

Technological Focus Areas

The company emphasizes key technology areas:

• Cloud Technologies
• Data Analytics
• Customer Experience Management
• Application Modernization

Recent Developments

Recent developments include:

• Acquisition of a leading digital experience agency in April 2023.
• Partnership with a major cloud service provider to enhance offerings.
• Launch of a new AI-driven analytics platform in March 2023.

How Perficient, Inc. (PRFT) Makes Money

Revenue Streams

Perficient, Inc. generates revenue through various channels, primarily focusing on technology consulting and digital experience solutions. The following table elucidates the major revenue sources:

Client Segments

Perficient targets a wide range of industries, thereby diversifying its client base. The table below details key client segments and their corresponding revenue contributions:

Geographic Distribution

Perficient's operational reach extends across various geographical locations, significantly contributing to its revenue. The following table presents the geographic distribution of revenue:

Financial Performance

Perficient's financial health can be gauged through key performance indicators over the last few years. Here’s a look at pertinent financial metrics:

Strategic Partnerships

Strategic partnerships play a crucial role in enhancing Perficient's service offerings and expanding its market reach. Key partnerships include:

• Salesforce
• Microsoft
• Adobe
• IBM
• Amazon Web Services

Investment in Technology

Perficient invests significantly in technology and innovation to maintain competitiveness. In 2022, the company allocated approximately $40 million to research and development (R&D) initiatives.

Employee Metrics

The success of Perficient largely depends on its skilled workforce. As of the end of 2022, the company reported:

Market Positioning and Competitors

Perficient operates in a competitive landscape with several notable contenders, which include:

• Capgemini
• Accenture
• Deloitte
• Infosys
• Cognizant