Principal Financial Group Inc. Sells 1,073 Shares of Perficient, Inc. (NASDAQ:PRFT)

Principal Financial Group Inc. decreased its stake in shares of Perficient, Inc. (NASDAQ:PRFT) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 289,781 shares of the digital transformation consultancy’s stock after selling 1,073 shares during the period. Principal Financial Group Inc. owned about 0.88% of Perficient worth $33,527,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in shares of Perficient by 548.0% during the second quarter. FMR LLC now owns 782,733 shares of the digital transformation consultancy’s stock valued at $62,947,000 after buying an additional 661,945 shares during the last quarter. Jefferies Group LLC grew its stake in Perficient by 1,600.3% in the second quarter. Jefferies Group LLC now owns 633,968 shares of the digital transformation consultancy’s stock worth $50,984,000 after purchasing an additional 596,682 shares in the last quarter. Atlanta Capital Management Co. L L C bought a new stake in Perficient during the 2nd quarter valued at $34,082,000. Hood River Capital Management LLC purchased a new stake in shares of Perficient during the 2nd quarter valued at $32,026,000. Finally, Invesco Ltd. lifted its holdings in shares of Perficient by 91.2% during the 2nd quarter. Invesco Ltd. now owns 378,638 shares of the digital transformation consultancy’s stock valued at $30,450,000 after purchasing an additional 180,625 shares during the last quarter. 96.24% of the stock is owned by institutional investors and hedge funds.

Shares of PRFT stock opened at $102.72 on Friday. The stock has a 50 day simple moving average of $130.59 and a 200-day simple moving average of $116.42. Perficient, Inc. has a 1-year low of $47.32 and a 1-year high of $153.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.12 and a quick ratio of 2.12. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 62.63, a PEG ratio of 1.72 and a beta of 1.43.

Perficient (NASDAQ:PRFT) last posted its quarterly earnings data on Thursday, October 28th. The digital transformation consultancy reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.03. Perficient had a return on equity of 21.84% and a net margin of 7.90%. The firm had revenue of $192.80 million during the quarter, compared to the consensus estimate of $189.51 million. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. Analysts anticipate that Perficient, Inc. will post 2.88 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on PRFT shares. Alliance Global Partners upped their target price on Perficient from $125.00 to $138.00 and gave the company a “neutral” rating in a research report on Thursday, October 28th. Needham & Company LLC upped their price objective on Perficient from $130.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, October 18th. Barrington Research restated a “buy” rating and issued a $150.00 price objective on shares of Perficient in a research report on Monday, December 13th. Maxim Group upped their price objective on Perficient from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, October 25th. Finally, Zacks Investment Research downgraded Perficient from a “buy” rating to a “hold” rating in a research note on Thursday, December 30th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Perficient currently has a consensus rating of “Buy” and a consensus price target of $142.17.

About Perficient

Perficient, Inc engages in the provision of digital consultancy services. Its service categories include strategy and consulting; data and intelligence; platforms and technology; customer experience and digital marketing; innovation and product development; and optimized global delivery. The company was founded in 1998 and is headquartered in St.

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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