Principal Financial Group Inc. Sells 35,532 Shares of Perficient, Inc. (NASDAQ:PRFT)

Principal Financial Group Inc. trimmed its position in shares of Perficient, Inc. (NASDAQ:PRFTGet Rating) by 13.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,821 shares of the digital transformation consultancy’s stock after selling 35,532 shares during the period. Principal Financial Group Inc.’s holdings in Perficient were worth $21,531,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its holdings in Perficient by 151.3% during the second quarter. First Horizon Advisors Inc. now owns 299 shares of the digital transformation consultancy’s stock valued at $28,000 after acquiring an additional 180 shares during the period. ACG Wealth acquired a new position in shares of Perficient during the second quarter valued at about $39,000. Venture Visionary Partners LLC acquired a new position in shares of Perficient during the second quarter valued at about $40,000. Parkside Financial Bank & Trust raised its position in shares of Perficient by 376.0% during the second quarter. Parkside Financial Bank & Trust now owns 457 shares of the digital transformation consultancy’s stock valued at $42,000 after buying an additional 361 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Perficient during the first quarter valued at about $48,000. 93.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PRFT. JPMorgan Chase & Co. cut their price objective on shares of Perficient from $109.00 to $86.00 in a research report on Friday, October 14th. Alliance Global Partners raised shares of Perficient from a “neutral” rating to a “buy” rating and cut their price objective for the company from $100.00 to $85.00 in a research report on Tuesday, September 27th. Maxim Group cut their price objective on shares of Perficient from $140.00 to $110.00 in a research report on Wednesday, October 12th. TheStreet lowered shares of Perficient from a “b-” rating to a “c+” rating in a research report on Tuesday, November 8th. Finally, StockNews.com assumed coverage on shares of Perficient in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.63.

Perficient Stock Performance

NASDAQ:PRFT opened at $69.00 on Monday. Perficient, Inc. has a 12-month low of $59.78 and a 12-month high of $149.35. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $2.39 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 1.08 and a beta of 1.53. The firm has a 50-day moving average price of $66.75 and a 200 day moving average price of $82.89.

Perficient Company Profile

(Get Rating)

Perficient, Inc provides digital consultancy services and solutions in the United States. The company offers strategy and consulting solutions in the areas of digital and technology strategy, management consulting, 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 portfolio.

Further Reading

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Institutional Ownership by Quarter for Perficient (NASDAQ:PRFT)

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