Raymond James & Associates Sells 58,450 Shares of Perion Network Ltd. (NASDAQ:PERI)

Raymond James & Associates cut its holdings in Perion Network Ltd. (NASDAQ:PERI) by 85.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,236 shares of the technology company’s stock after selling 58,450 shares during the period. Raymond James & Associates’ holdings in Perion Network were worth $316,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in shares of Perion Network by 12.0% in the third quarter. Bank of New York Mellon Corp now owns 7,353 shares of the technology company’s stock worth $225,000 after purchasing an additional 786 shares during the period. Van ECK Associates Corp grew its position in Perion Network by 6.8% during the third quarter. Van ECK Associates Corp now owns 15,847 shares of the technology company’s stock worth $485,000 after buying an additional 1,008 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Perion Network by 17.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,945 shares of the technology company’s stock worth $397,000 after buying an additional 1,893 shares in the last quarter. Seizert Capital Partners LLC grew its position in Perion Network by 3.1% during the third quarter. Seizert Capital Partners LLC now owns 90,058 shares of the technology company’s stock worth $2,758,000 after buying an additional 2,671 shares in the last quarter. Finally, CenterBook Partners LP grew its position in Perion Network by 17.4% during the third quarter. CenterBook Partners LP now owns 18,836 shares of the technology company’s stock worth $577,000 after buying an additional 2,785 shares in the last quarter. 68.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Roth Capital downgraded Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. Needham & Company LLC decreased their target price on Perion Network from $35.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. Roth Mkm reissued a “neutral” rating and set a $13.00 target price (down from $35.00) on shares of Perion Network in a research report on Tuesday, April 9th. StockNews.com downgraded Perion Network from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. Finally, Lake Street Capital reaffirmed a “hold” rating and set a $16.00 price objective on shares of Perion Network in a report on Monday, April 8th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Perion Network has a consensus rating of “Hold” and a consensus price target of $25.80.

Perion Network Trading Up 0.8 %

NASDAQ PERI opened at $11.91 on Monday. The stock’s 50 day moving average is $19.30 and its two-hundred day moving average is $25.05. The company has a market capitalization of $571.57 million, a price-to-earnings ratio of 5.09, a PEG ratio of 0.37 and a beta of 1.24. Perion Network Ltd. has a 1-year low of $10.77 and a 1-year high of $38.02.

Perion Network (NASDAQ:PERI) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $234.23 million for the quarter, compared to the consensus estimate of $233.09 million. Perion Network had a return on equity of 23.06% and a net margin of 15.80%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 earnings per share. On average, analysts predict that Perion Network Ltd. will post 1.45 earnings per share for the current year.

Perion Network Company Profile

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.