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

Principal Financial Group Inc. lifted its position in Perficient, Inc. (NASDAQ:PRFT) by 2.0% in the third quarter, Holdings Channel reports. The firm owned 190,592 shares of the digital transformation consultancy’s stock after acquiring an additional 3,733 shares during the period. Principal Financial Group Inc.’s holdings in Perficient were worth $14,386,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PRFT. Inspire Investing LLC boosted its stake in Perficient by 15.9% during the 3rd quarter. Inspire Investing LLC now owns 5,439 shares of the digital transformation consultancy’s stock worth $411,000 after purchasing an additional 747 shares during the period. Trium Capital LLP raised its holdings in shares of Perficient by 920.7% in the third quarter. Trium Capital LLP now owns 193,534 shares of the digital transformation consultancy’s stock valued at $14,608,000 after buying an additional 174,574 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Perficient by 42.2% during the third quarter. Handelsbanken Fonder AB now owns 10,112 shares of the digital transformation consultancy’s stock worth $763,000 after buying an additional 3,000 shares during the period. Syquant Capital Sas grew its holdings in shares of Perficient by 303.0% during the third quarter. Syquant Capital Sas now owns 16,270 shares of the digital transformation consultancy’s stock worth $1,229,000 after buying an additional 12,233 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Perficient in the 2nd quarter valued at about $22,968,000. Hedge funds and other institutional investors own 95.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Perficient in a research report on Friday. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $70.00.

Perficient Price Performance

PRFT opened at $75.96 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.16 and a quick ratio of 4.16. Perficient, Inc. has a 12 month low of $42.51 and a 12 month high of $76.01. The stock has a market capitalization of $2.67 billion, a P/E ratio of 32.46, a P/E/G ratio of 2.24 and a beta of 1.63. The business has a 50 day simple moving average of $75.81 and a 200-day simple moving average of $74.46.

About Perficient

Perficient, Inc provides digital consultancy services and solutions in the United States and internationally. It offers strategy and transformation solutions in digital strategy, technology strategy, business velocity and growth, and organizational change management; and data and intelligence solutions in the areas of analytics, artificial intelligence and machine learning, big data, business intelligence, and custom product portfolios.