Envestnet Asset Management Inc. Raises Stock Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Envestnet Asset Management Inc. boosted its stake in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 114.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,609 shares of the technology company's stock after buying an additional 38,728 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of Verint Systems worth $1,993,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new stake in Verint Systems in the 4th quarter valued at about $43,000. Headlands Technologies LLC purchased a new stake in Verint Systems during the fourth quarter worth about $52,000. Parkside Financial Bank & Trust purchased a new stake in Verint Systems during the fourth quarter worth about $52,000. PNC Financial Services Group Inc. increased its stake in Verint Systems by 45.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company's stock worth $54,000 after purchasing an additional 613 shares during the period. Finally, KBC Group NV increased its stake in Verint Systems by 75.0% during the fourth quarter. KBC Group NV now owns 3,380 shares of the technology company's stock worth $93,000 after purchasing an additional 1,449 shares during the period. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VRNT shares. Evercore ISI cut their price target on shares of Verint Systems from $34.00 to $23.00 and set an "in-line" rating on the stock in a research note on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price target on shares of Verint Systems in a research note on Friday. Royal Bank of Canada cut their target price on shares of Verint Systems from $36.00 to $29.00 and set an "outperform" rating on the stock in a research note on Thursday, March 27th. Wedbush cut their target price on shares of Verint Systems from $38.00 to $30.00 and set an "outperform" rating on the stock in a research note on Friday, March 28th. Finally, StockNews.com downgraded Verint Systems from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Verint Systems has an average rating of "Moderate Buy" and a consensus target price of $30.33.

Insider Transactions at Verint Systems

In other news, Director Stephen J. Gold sold 2,744 shares of the business's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $16.07, for a total transaction of $44,096.08. Following the transaction, the director now directly owns 28,473 shares in the company, valued at $457,561.11. The trade was a 8.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Fante sold 9,439 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $16.50, for a total transaction of $155,743.50. Following the transaction, the insider now owns 20,450 shares in the company, valued at approximately $337,425. This trade represents a 31.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

Verint Systems Price Performance

VRNT stock opened at $18.23 on Monday. The company has a market capitalization of $1.13 billion, a P/E ratio of 19.39, a PEG ratio of 0.97 and a beta of 1.31. Verint Systems Inc. has a twelve month low of $14.15 and a twelve month high of $38.17. The business has a 50 day simple moving average of $19.62 and a 200-day simple moving average of $23.35. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

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

About Verint Systems

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.

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