Perion Network Ltd. (NASDAQ:PERI) Shares Bought by Congress Asset Management Co. MA

Congress Asset Management Co. MA raised its stake in Perion Network Ltd. (NASDAQ:PERI) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 841,948 shares of the technology company’s stock after purchasing an additional 69,342 shares during the quarter. Congress Asset Management Co. MA’s holdings in Perion Network were worth $25,991,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Perion Network by 11.7% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,319,354 shares of the technology company’s stock valued at $102,468,000 after purchasing an additional 346,610 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Perion Network by 12.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,299,039 shares of the technology company’s stock worth $70,971,000 after buying an additional 260,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Perion Network by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,435,197 shares of the technology company’s stock worth $43,960,000 after buying an additional 26,181 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Perion Network by 8.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,188,634 shares of the technology company’s stock worth $36,693,000 after buying an additional 92,665 shares in the last quarter. Finally, Meitav Investment House Ltd. raised its holdings in shares of Perion Network by 6.1% in the 4th quarter. Meitav Investment House Ltd. now owns 1,059,894 shares of the technology company’s stock worth $32,684,000 after purchasing an additional 61,040 shares in the last quarter. Institutional investors and hedge funds own 68.12% of the company’s stock.

Perion Network Trading Up 2.1 %

NASDAQ:PERI traded up $0.18 during trading hours on Friday, hitting $8.61. 974,656 shares of the company traded hands, compared to its average volume of 1,024,042. Perion Network Ltd. has a twelve month low of $8.14 and a twelve month high of $36.86. The stock has a market capitalization of $413.19 million, a price-to-earnings ratio of 4.10, a P/E/G ratio of 0.46 and a beta of 1.40. The firm has a 50-day moving average of $11.81 and a 200 day moving average of $21.27.

Perion Network (NASDAQ:PERI) last announced its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Perion Network had a net margin of 13.94% and a return on equity of 20.70%. The business had revenue of $157.82 million during the quarter, compared to analyst estimates of $156.96 million. Equities research analysts predict that Perion Network Ltd. will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PERI. Needham & Company LLC lowered shares of Perion Network from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Oppenheimer downgraded shares of Perion Network from an “outperform” rating to a “market perform” rating in a research report on Monday, June 10th. Roth Capital downgraded shares of Perion Network from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 9th. StockNews.com downgraded shares of Perion Network from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Lake Street Capital reduced their price objective on shares of Perion Network from $16.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, June 11th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $24.60.

Perion Network Company Profile

Perion Network Ltd. provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally. It offers 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.