Perficient, Inc. (NASDAQ:PRFT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Perficient, Inc. (NASDAQ:PRFT) by 0.4% in the 3rd quarter, Holdings Channel reports. The firm owned 289,781 shares of the digital transformation consultancy’s stock after selling 1,073 shares during the quarter. Principal Financial Group Inc.’s holdings in Perficient were worth $33,527,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. 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 acquiring an additional 661,945 shares in the last quarter. Jefferies Group LLC grew its stake in shares of Perficient by 1,600.3% during the second quarter. Jefferies Group LLC now owns 633,968 shares of the digital transformation consultancy’s stock valued at $50,984,000 after acquiring an additional 596,682 shares in the last quarter. Atlanta Capital Management Co. L L C acquired a new stake in shares of Perficient during the second quarter valued at about $34,082,000. Hood River Capital Management LLC acquired a new stake in shares of Perficient during the second quarter valued at about $32,026,000. Finally, Invesco Ltd. grew its stake in shares of Perficient by 91.2% during the second quarter. Invesco Ltd. now owns 378,638 shares of the digital transformation consultancy’s stock valued at $30,450,000 after acquiring an additional 180,625 shares in the last quarter. Hedge funds and other institutional investors own 96.24% of the company’s stock.

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

Perficient (NASDAQ:PRFT) last announced its earnings results on Thursday, October 28th. The digital transformation consultancy reported $0.88 EPS for the quarter, beating the 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 business 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 business posted $0.52 earnings per share. Perficient’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.

PRFT has been the topic of several research analyst reports. Barrington Research reaffirmed a “buy” rating and set a $150.00 price target on shares of Perficient in a research report on Monday, December 13th. Alliance Global Partners raised their target price on shares of Perficient from $125.00 to $138.00 and gave the stock a “neutral” rating in a report on Thursday, October 28th. Zacks Investment Research downgraded Perficient from a “buy” rating to a “hold” rating in a research note on Thursday, December 30th. 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 note on Monday, October 18th. Finally, Maxim Group upped their price objective on Perficient from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, October 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $142.17.

Perficient Company Profile

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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