Wellington Management Group LLP Trims Stock Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Wellington Management Group LLP lessened its holdings in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,881,316 shares of the technology company's stock after selling 26,109 shares during the period. Wellington Management Group LLP owned about 4.65% of Verint Systems worth $72,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in Verint Systems by 282.1% in the 2nd quarter. SG Americas Securities LLC now owns 14,767 shares of the technology company's stock worth $475,000 after purchasing an additional 10,902 shares during the period. Stanley Laman Group Ltd. lifted its position in shares of Verint Systems by 0.4% during the 2nd quarter. Stanley Laman Group Ltd. now owns 124,470 shares of the technology company's stock valued at $4,008,000 after buying an additional 478 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Verint Systems by 43.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 40,985 shares of the technology company's stock valued at $1,320,000 after acquiring an additional 12,347 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Verint Systems by 154.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 168,332 shares of the technology company's stock valued at $5,420,000 after acquiring an additional 102,225 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Verint Systems in the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 94.95% of the company's stock.

Analyst Upgrades and Downgrades

VRNT has been the subject of a number of recent analyst reports. Wedbush reiterated an "outperform" rating and issued a $38.00 price target on shares of Verint Systems in a research report on Thursday, September 26th. Evercore ISI dropped 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 report on Thursday, September 5th. Needham & Company LLC reissued a "buy" rating and set a $40.00 price target on shares of Verint Systems in a report on Thursday, December 5th. StockNews.com upgraded Verint Systems from a "hold" rating to a "buy" rating in a research report on Thursday, September 5th. Finally, TD Cowen cut their target price on Verint Systems from $40.00 to $36.00 and set a "buy" rating for the company in a research report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Verint Systems presently has an average rating of "Moderate Buy" and an average price target of $35.67.

Verint Systems Price Performance

Shares of VRNT stock traded up $0.43 during trading hours on Wednesday, hitting $30.48. The stock had a trading volume of 610,389 shares, compared to its average volume of 709,360. The stock's 50-day moving average price is $24.07 and its two-hundred day moving average price is $28.84. Verint Systems Inc. has a one year low of $21.27 and a one year high of $38.17. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 1.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28.

Insiders Place Their Bets

In related news, CFO Grant A. Highlander sold 3,389 shares of Verint Systems stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.85, for a total value of $87,605.65. Following the completion of the transaction, the chief financial officer now owns 131,267 shares in the company, valued at approximately $3,393,251.95. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan Bodner sold 16,932 shares of the company's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.85, for a total value of $437,692.20. Following the sale, the chief executive officer now owns 592,832 shares in the company, valued at approximately $15,324,707.20. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,811 shares of company stock valued at $874,014 in the last quarter. 1.70% of the stock is currently owned by insiders.

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.