Pitcairn Co. Buys New Shares in Verint Systems Inc. (NASDAQ:VRNT)

Pitcairn Co. purchased a new position in Verint Systems Inc. (NASDAQ:VRNT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,421 shares of the technology company's stock, valued at approximately $533,000.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Verint Systems by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 651,741 shares of the technology company's stock worth $16,509,000 after purchasing an additional 7,409 shares in the last quarter. Quantbot Technologies LP bought a new stake in Verint Systems in the 3rd quarter worth about $58,000. FMR LLC raised its position in Verint Systems by 312.3% in the 3rd quarter. FMR LLC now owns 10,065 shares of the technology company's stock worth $255,000 after buying an additional 7,624 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Verint Systems by 18.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,858 shares of the technology company's stock worth $376,000 after buying an additional 2,272 shares during the last quarter. Finally, State Street Corp lifted its stake in Verint Systems by 1.5% during the 3rd quarter. State Street Corp now owns 1,573,801 shares of the technology company's stock valued at $39,864,000 after acquiring an additional 23,400 shares during the period. 94.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on VRNT. Needham & Company LLC reduced their price target on shares of Verint Systems from $40.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Evercore ISI cut their target price on shares of 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. StockNews.com lowered shares of Verint Systems from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Wedbush dropped their price target on 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, Royal Bank of Canada reduced their price objective on Verint Systems from $36.00 to $29.00 and set an "outperform" rating for the company in a research 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.33.

Remove Ads

Verint Systems Stock Performance

Shares of VRNT stock traded up $0.42 during mid-day trading on Friday, reaching $15.88. 1,020,943 shares of the company's stock traded hands, compared to its average volume of 774,945. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The firm has a market capitalization of $986.75 million, a PE ratio of 16.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.31. Verint Systems Inc. has a 12 month low of $14.15 and a 12 month high of $38.17. The firm has a 50 day moving average price of $21.52 and a two-hundred day moving average price of $23.89.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its earnings results 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 company had revenue of $253.50 million for the quarter, compared to analysts' expectations 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 for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 earnings per share. On average, research analysts forecast that Verint Systems Inc. will post 1.92 EPS for the current year.

Verint Systems 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.