Principal Financial Group Inc. Acquires 9,722 Shares of Perficient, Inc. (NASDAQ:PRFT)

Principal Financial Group Inc. grew its holdings in Perficient, Inc. (NASDAQ:PRFT) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 290,854 shares of the digital transformation consultancy’s stock after purchasing an additional 9,722 shares during the period. Principal Financial Group Inc. owned approximately 0.88% of Perficient worth $23,391,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PRFT. Mcrae Capital Management Inc. bought a new stake in Perficient during the 1st quarter worth $13,038,000. American Century Companies Inc. grew its position in Perficient by 79.1% during the 2nd quarter. American Century Companies Inc. now owns 432,433 shares of the digital transformation consultancy’s stock worth $34,776,000 after acquiring an additional 191,036 shares during the last quarter. BlackRock Inc. grew its position in Perficient by 3.7% during the 1st quarter. BlackRock Inc. now owns 5,118,580 shares of the digital transformation consultancy’s stock worth $300,562,000 after acquiring an additional 180,418 shares during the last quarter. Brown Advisory Inc. bought a new stake in Perficient during the 1st quarter worth $6,178,000. Finally, Monarch Partners Asset Management LLC bought a new stake in Perficient during the 2nd quarter worth $6,458,000.

A number of equities research analysts have commented on the company. Alliance Global Partners upped their price target on Perficient from $78.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. JPMorgan Chase & Co. upgraded Perficient from a “neutral” rating to an “overweight” rating and upped their price target for the company from $100.00 to $126.00 in a research report on Tuesday, August 17th. Needham & Company LLC upped their price target on Perficient from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, August 27th. Maxim Group upped their price target on Perficient from $83.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, July 30th. Finally, Barrington Research upped their price target on Perficient from $75.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $116.83.

In related news, CEO Jeffrey S. Davis sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, August 9th. The stock was sold at an average price of $101.44, for a total transaction of $3,550,400.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gary Wimberly sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $95.60, for a total value of $239,000.00. Following the transaction, the director now directly owns 41,992 shares in the company, valued at $4,014,435.20. The disclosure for this sale can be found here. Insiders sold a total of 49,919 shares of company stock worth $5,033,784 over the last three months. 2.50% of the stock is owned by company insiders.

Shares of NASDAQ:PRFT opened at $123.06 on Friday. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 91.16, a P/E/G ratio of 2.65 and a beta of 1.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.18 and a quick ratio of 2.18. The business’s 50-day moving average is $106.44 and its 200-day moving average is $82.68. Perficient, Inc. has a 1 year low of $37.42 and a 1 year high of $123.63.

Perficient (NASDAQ:PRFT) last announced its quarterly earnings data on Thursday, July 29th. The digital transformation consultancy reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.17. The company had revenue of $184.14 million for the quarter, compared to the consensus estimate of $176.73 million. Perficient had a return on equity of 20.43% and a net margin of 6.64%. Analysts anticipate that Perficient, Inc. will post 2.8 EPS for the current year.

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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