Principal Financial Group Inc. Increases Position in Perficient, Inc. (NASDAQ:PRFT)

Principal Financial Group Inc. grew its position in shares of Perficient, Inc. (NASDAQ:PRFT) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,592 shares of the digital transformation consultancy’s stock after purchasing an additional 3,733 shares during the period. Principal Financial Group Inc. owned approximately 0.54% of Perficient worth $14,386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Perficient by 156.7% in the second quarter. GAMMA Investing LLC now owns 552 shares of the digital transformation consultancy’s stock valued at $41,000 after purchasing an additional 337 shares in the last quarter. CWM LLC grew its stake in shares of Perficient by 67.7% in the second quarter. CWM LLC now owns 577 shares of the digital transformation consultancy’s stock worth $43,000 after acquiring an additional 233 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new stake in shares of Perficient during the second quarter worth $74,000. SG Americas Securities LLC purchased a new stake in shares of Perficient during the first quarter worth $117,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Perficient in the second quarter valued at $138,000. 95.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Perficient Stock Performance

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

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.