Arrowstreet Capital Limited Partnership Grows Position in Verint Systems Inc. (NASDAQ:VRNT)

Arrowstreet Capital Limited Partnership increased its position in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 491.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 764,498 shares of the technology company's stock after purchasing an additional 635,334 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.23% of Verint Systems worth $20,985,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Verint Systems by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 651,741 shares of the technology company's stock valued at $16,509,000 after buying an additional 7,409 shares during the last quarter. Quantbot Technologies LP acquired a new position in Verint Systems during the 3rd quarter valued at about $58,000. FMR LLC increased its holdings in Verint Systems by 312.3% during the 3rd quarter. FMR LLC now owns 10,065 shares of the technology company's stock worth $255,000 after purchasing an additional 7,624 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Verint Systems by 141.4% in the third quarter. BNP Paribas Financial Markets now owns 151,266 shares of the technology company's stock worth $3,832,000 after purchasing an additional 88,616 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Verint Systems by 18.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,858 shares of the technology company's stock valued at $376,000 after buying an additional 2,272 shares during the last quarter. Institutional investors and hedge funds own 94.95% of the company's stock.

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Analysts Set New Price Targets

VRNT has been the subject of a number of analyst reports. Evercore ISI lowered their price target on Verint Systems from $34.00 to $23.00 and set an "in-line" rating for the company in a research report on Thursday, March 27th. Jefferies Financial Group boosted their price target on shares of Verint Systems from $28.00 to $34.00 and gave the stock a "hold" rating in a report on Friday, December 6th. StockNews.com cut shares of Verint Systems from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Wedbush reduced their target price on Verint Systems from $38.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, March 28th. Finally, Royal Bank of Canada cut their price objective on Verint Systems from $36.00 to $29.00 and set an "outperform" rating on the stock in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.33.

Verint Systems Stock Performance

Shares of VRNT traded down $0.78 during trading hours on Friday, hitting $15.20. The company's stock had a trading volume of 1,423,727 shares, compared to its average volume of 763,408. The business has a 50 day simple moving average of $22.94 and a two-hundred day simple moving average of $24.38. Verint Systems Inc. has a 52-week low of $14.16 and a 52-week high of $38.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28. The company has a market cap of $944.50 million, a price-to-earnings ratio of 16.17, a PEG ratio of 0.97 and a beta of 1.29.

Verint Systems (NASDAQ:VRNT - Get Free Report) last issued its earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.28). Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The business had revenue of $253.50 million for the quarter, compared to the consensus estimate of $276.82 million. During the same period in the previous year, the firm earned $1.07 EPS. The company's revenue was down 4.4% compared to the same quarter last year. On average, equities analysts expect that Verint Systems Inc. will post 1.92 earnings per share for the current fiscal year.

Verint Systems Company Profile

Verint Systems Inc provides customer engagement solutions worldwide. It offers forecasting and scheduling, channels and routing, knowledge management, fraud and security solutions, quality and compliance, analytics and insights, real-time assistance, self-services, financial compliance, and voice pf the consumer solutions.