Bank of New York Mellon Corp Lowers Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Bank of New York Mellon Corp decreased its position in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 37.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 290,972 shares of the technology company's stock after selling 176,581 shares during the period. Bank of New York Mellon Corp owned approximately 0.47% of Verint Systems worth $9,369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Stanley Laman Group Ltd. raised its holdings in shares of Verint Systems by 0.4% during the second quarter. Stanley Laman Group Ltd. now owns 124,470 shares of the technology company's stock valued at $4,008,000 after purchasing an additional 478 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of Verint Systems by 4.4% in the 1st quarter. Verdence Capital Advisors LLC now owns 13,938 shares of the technology company's stock worth $462,000 after acquiring an additional 584 shares during the last quarter. FinTrust Capital Advisors LLC raised its holdings in shares of Verint Systems by 173.7% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,188 shares of the technology company's stock worth $39,000 after acquiring an additional 754 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Verint Systems in the 1st quarter worth about $30,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Verint Systems by 764.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,037 shares of the technology company's stock worth $28,000 after acquiring an additional 917 shares during the last quarter. Institutional investors and hedge funds own 94.95% of the company's stock.

Insider Buying and Selling

In related news, insider Peter Fante sold 4,417 shares of the firm's stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $36.60, for a total value of $161,662.20. Following the completion of the transaction, the insider now directly owns 98,975 shares of the company's stock, valued at approximately $3,622,485. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Verint Systems news, CEO Dan Bodner sold 375,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.76, for a total value of $12,660,000.00. Following the sale, the chief executive officer now directly owns 609,764 shares in the company, valued at approximately $20,585,632.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Fante sold 4,417 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $36.60, for a total transaction of $161,662.20. Following the completion of the sale, the insider now owns 98,975 shares in the company, valued at $3,622,485. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Verint Systems Stock Performance

VRNT traded up $0.08 on Tuesday, hitting $25.89. The company's stock had a trading volume of 770,599 shares, compared to its average volume of 643,056. The company's 50 day simple moving average is $32.32 and its 200-day simple moving average is $31.93. The firm has a market cap of $1.61 billion, a P/E ratio of 53.36, a price-to-earnings-growth ratio of 1.10 and a beta of 1.24. Verint Systems Inc. has a 12 month low of $18.41 and a 12 month high of $38.17. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 0.49.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $210.17 million during the quarter, compared to the consensus estimate of $212.81 million. Verint Systems had a return on equity of 16.17% and a net margin of 6.78%. The firm's quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business posted $0.22 earnings per share. Analysts forecast that Verint Systems Inc. will post 1.98 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price objective on shares of Verint Systems in a research note on Thursday, September 5th. StockNews.com raised shares of Verint Systems from a "hold" rating to a "buy" rating in a research report on Thursday, September 5th. Jefferies Financial Group reduced their target price on shares of Verint Systems from $32.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, September 5th. Royal Bank of Canada reissued an "outperform" rating and set a $36.00 target price on shares of Verint Systems in a research report on Thursday, September 5th. Finally, Evercore ISI reduced their target price on shares of Verint Systems from $34.00 to $30.00 and set an "in-line" rating for the company in a research report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

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.