Phocas Financial Corp. lowered its position in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 85.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,467 shares of the technology company's stock after selling 155,438 shares during the period. Phocas Financial Corp.'s holdings in Verint Systems were worth $754,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Verint Systems by 5.7% during the fourth quarter. Bank of New York Mellon Corp now owns 254,394 shares of the technology company's stock valued at $6,983,000 after purchasing an additional 13,703 shares during the period. Meitav Investment House Ltd. purchased a new stake in shares of Verint Systems during the fourth quarter valued at approximately $389,000. Ieq Capital LLC purchased a new stake in shares of Verint Systems during the fourth quarter valued at approximately $618,000. New York State Teachers Retirement System purchased a new stake in shares of Verint Systems during the fourth quarter valued at approximately $154,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Verint Systems by 32.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 112,192 shares of the technology company's stock valued at $3,065,000 after purchasing an additional 27,259 shares during the period. Hedge funds and other institutional investors own 94.95% of the company's stock.
Verint Systems Stock Performance
Verint Systems stock traded up $0.19 during mid-day trading on Friday, reaching $22.57. The company's stock had a trading volume of 635,159 shares, compared to its average volume of 713,651. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 0.97 and a beta of 1.24. The business has a 50 day moving average price of $25.63 and a 200-day moving average price of $26.04. 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 Inc. has a twelve month low of $21.28 and a twelve month high of $38.17.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on VRNT shares. Needham & Company LLC reiterated a "buy" rating and set a $40.00 price objective on shares of Verint Systems in a research note on Friday, January 10th. StockNews.com downgraded shares of Verint Systems from a "buy" rating to a "hold" rating in a research report on Sunday, February 23rd. Jefferies Financial Group raised their price target on shares of Verint Systems from $28.00 to $34.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $36.00 price target on shares of Verint Systems in a research report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.67.
Check Out Our Latest Stock Analysis on Verint Systems
Insiders Place Their Bets
In other Verint Systems news, insider Peter Fante sold 16,233 shares of Verint Systems stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $27.52, for a total value of $446,732.16. Following the completion of the transaction, the insider now owns 73,314 shares of the company's stock, valued at $2,017,601.28. The trade was a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Grant A. Highlander sold 12,880 shares of the firm's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $29.25, for a total value of $376,740.00. Following the completion of the sale, the chief financial officer now owns 117,137 shares in the company, valued at $3,426,257.25. The trade was a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
About Verint Systems
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Free Report)
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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