Frenchman Pericard, who has joined the Pilgrims on loan from Portsmouth until the end of the season, netted in the 13th, 41st and 78th minutes to claim the first three-goal haul by a Plymouth player since January 2004.
A late strike by Coventry substitute Dennis Wise proved no consolation for the Sky Blues as Argyle avenged their 3-1 defeat at the Ricoh Stadium earlier in the year.
Pericard fired Argyle ahead after 13 minutes when he latched on to Paul Connolly's long throw-in from the right to sweep home a left-footed strike from close range for Plymouth's first goal in 289 minutes.
His second came following a period of pressure from the home side after veteran Argyle forward Micky Evans headed the ball into his path.
The Cameroon-born striker picked his spot from distance a sent a right-footed shot wide of the Sky Blues' Hungarian goalkeeper Marton Fulop.
Pericard tried returning the favour in the second half, but Matt Heath prevented Evans from capitalising on some good work by his team-mate with a last-ditch intervention.
A mix-up in communication on the edge of the box between Fulop and Ady Williams presented Pericard with his third, the forward staying cool to run the ball into an unguarded net after the two City men collided.
Substitute Wise entered the fray in the 79th minute and, after being booked within a minute of his introduction, proceeded to run the show.
He was rewarded for his efforts with a goal from a well-struck shot with six minutes remaining.