Perficient, Inc. (NASDAQ:PRFT) Stake Raised by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in Perficient, Inc. (NASDAQ:PRFT – Get Rating) by 0.7% in the 4th quarter, Holdings Channel reports. The fund owned 222,512 shares of the digital transformation consultancy’s stock after purchasing an additional 1,618 shares during the quarter. Principal Financial Group Inc.’s holdings in Perficient were worth $15,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Grotto Capital LLC boosted its holdings in Perficient by 124.7% in the 1st quarter. Blue Grotto Capital LLC now owns 359,879 shares of the digital transformation consultancy’s stock valued at $39,619,000 after purchasing an additional 199,689 shares during the period. Vanguard Group Inc. grew its position in Perficient by 5.3% during the first quarter. Vanguard Group Inc. now owns 3,799,310 shares of the digital transformation consultancy’s stock worth $418,266,000 after buying an additional 189,974 shares in the last quarter. Capital International Investors increased its stake in Perficient by 59.7% during the first quarter. Capital International Investors now owns 429,965 shares of the digital transformation consultancy’s stock valued at $47,335,000 after acquiring an additional 160,757 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Perficient in the third quarter valued at $8,934,000. Finally, Mesirow Institutional Investment Management Inc. acquired a new position in shares of Perficient in the 3rd quarter worth approximately $6,402,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Transactions at Perficient

In other news, COO Thomas J. Hogan sold 9,900 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $72.23, for a total transaction of $715,077.00. Following the completion of the transaction, the chief operating officer now directly owns 133,852 shares of the company’s stock, valued at approximately $9,668,129.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.50% of the company’s stock.

Perficient Stock Performance

Shares of PRFT opened at $78.25 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.93 and a current ratio of 2.93. Perficient, Inc. has a twelve month low of $59.78 and a twelve month high of $110.28. The firm’s 50 day moving average price is $70.20 and its two-hundred day moving average price is $71.64. The firm has a market cap of $2.73 billion, a P/E ratio of 26.98, a PEG ratio of 1.30 and a beta of 1.56.

Perficient (NASDAQ:PRFT – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The digital transformation consultancy reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.03). Perficient had a net margin of 11.38% and a return on equity of 32.14%. The firm had revenue of $232.60 million during the quarter, compared to analyst estimates of $235.73 million. On average, analysts forecast that Perficient, Inc. will post 4.05 EPS for the current fiscal year.

Analysts Set New Price Targets

PRFT has been the subject of a number of research reports. TheStreet raised shares of Perficient from a “c+” rating to a “b-” rating in a report on Thursday, March 30th. StockNews.com started coverage on shares of Perficient in a report on Thursday, May 18th. They issued a “hold” rating for the company. Barrington Research reiterated an “outperform” rating and issued a $85.00 price target on shares of Perficient in a report on Monday, April 17th. Morgan Stanley decreased their price target on Perficient from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, January 27th. Finally, National Alliance Securities reiterated a “neutral” rating on shares of Perficient in a report on Friday, February 17th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Perficient Company Profile

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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.