Raymond James & Associates lowered its stake in shares of Perion Network Ltd. (NASDAQ:PERI – Get Rating) by 8.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 98,551 shares of the technology company’s stock after selling 9,493 shares during the period. Raymond James & Associates’ holdings in Perion Network were worth $1,901,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new stake in Perion Network during the first quarter valued at $339,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Perion Network by 5.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,531 shares of the technology company’s stock valued at $327,000 after buying an additional 778 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Perion Network by 30.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,329 shares of the technology company’s stock valued at $1,064,000 after buying an additional 11,151 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Perion Network in the 1st quarter valued at approximately $302,000. Finally, Vanguard Group Inc. increased its holdings in Perion Network by 38.3% in the first quarter. Vanguard Group Inc. now owns 1,186,776 shares of the technology company’s stock worth $26,691,000 after buying an additional 328,422 shares during the last quarter. 50.94% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Perion Network from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 5th.
Perion Network Price Performance
Perion Network (NASDAQ:PERI – Get Rating) last issued its quarterly earnings data on Wednesday, November 9th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Perion Network had a return on equity of 16.45% and a net margin of 13.29%. The business had revenue of $158.62 million for the quarter, compared to analyst estimates of $158.00 million. As a group, sell-side analysts anticipate that Perion Network Ltd. will post 2.03 earnings per share for the current year.
About Perion Network
Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It provides Wildfire, a content monetization platform; search monetization solutions, including website monetization, search mediation, and app monetization; and cross-channel digital advertising software as a service platform.
- Get a free copy of the StockNews.com research report on Perion Network (PERI)
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