Advisor Group Holdings Inc. trimmed its holdings in Verint Systems Inc. (NASDAQ:VRNT) by 12.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,763 shares of the technology company’s stock after selling 410 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Verint Systems were worth $125,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CSat Investment Advisory L.P. raised its position in Verint Systems by 392.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 783 shares of the technology company’s stock worth $35,000 after purchasing an additional 624 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in Verint Systems in the second quarter worth about $234,000. First Quadrant L P CA acquired a new stake in Verint Systems in the second quarter worth about $292,000. Keybank National Association OH acquired a new stake in Verint Systems in the second quarter worth about $493,000. Finally, FDx Advisors Inc. bought a new stake in Verint Systems during the 1st quarter worth about $518,000. Institutional investors and hedge funds own 95.94% of the company’s stock.
Shares of NASDAQ:VRNT traded up $0.44 during midday trading on Friday, reaching $53.21. 349,684 shares of the company were exchanged, compared to its average volume of 530,130. The firm has a market cap of $3.48 billion, a PE ratio of 221.71, a P/E/G ratio of 1.77 and a beta of 0.92. The company has a quick ratio of 1.24, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Verint Systems Inc. has a fifty-two week low of $32.44 and a fifty-two week high of $59.83. The stock has a fifty day simple moving average of $48.08 and a two-hundred day simple moving average of $44.67.
Verint Systems (NASDAQ:VRNT) last released its quarterly earnings results on Wednesday, September 9th. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.37. The firm had revenue of $313.40 million for the quarter, compared to the consensus estimate of $299.41 million. Verint Systems had a return on equity of 13.19% and a net margin of 1.51%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. As a group, analysts forecast that Verint Systems Inc. will post 2.02 earnings per share for the current year.
A number of equities research analysts recently commented on the company. Zacks Investment Research raised Verint Systems from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, September 16th. Royal Bank of Canada increased their price target on shares of Verint Systems from $52.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, September 10th. Needham & Company LLC boosted their price objective on shares of Verint Systems from $53.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, September 10th. Wedbush increased their target price on shares of Verint Systems from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, September 10th. Finally, TheStreet raised shares of Verint Systems from a “c” rating to a “b-” rating in a report on Thursday, September 10th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $59.25.
In other Verint Systems news, insider Peter Fante sold 3,344 shares of the business’s stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $51.44, for a total transaction of $172,015.36. Following the transaction, the insider now owns 45,575 shares of the company’s stock, valued at approximately $2,344,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dan Bodner sold 7,224 shares of the business’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $48.70, for a total transaction of $351,808.80. Following the transaction, the chief executive officer now owns 816,759 shares in the company, valued at $39,776,163.30. The disclosure for this sale can be found here. Insiders sold a total of 42,471 shares of company stock worth $2,100,109 in the last 90 days. Company insiders own 1.70% of the company’s stock.
About Verint Systems
Verint Systems Inc provides actionable intelligence solutions worldwide. The company's Customer Engagement Solutions segment offers automated quality management, automated verification, branch surveillance and investigation, case management, chat engagement, coaching/learning, compliance recording, customer communities, desktop and process analytics, and digital feedback solutions.
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