Victory Capital Management Inc. Lowers Stake in Verint Systems Inc. (NASDAQ:VRNT)

Victory Capital Management Inc. lowered its position in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,109,058 shares of the technology company's stock after selling 634,857 shares during the period. Victory Capital Management Inc. owned about 4.99% of Verint Systems worth $85,344,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Verint Systems by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 705,227 shares of the technology company's stock worth $19,358,000 after buying an additional 53,486 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Verint Systems during the fourth quarter worth $43,000. Parkside Financial Bank & Trust purchased a new position in Verint Systems in the fourth quarter worth $52,000. Bank of New York Mellon Corp lifted its holdings in Verint Systems by 5.7% in 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 acquiring an additional 13,703 shares during the period. Finally, Meitav Investment House Ltd. purchased a new stake in shares of Verint Systems during the 4th quarter worth $389,000. Hedge funds and other institutional investors own 94.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VRNT. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price target on shares of Verint Systems in a report on Friday, January 10th. StockNews.com cut shares of Verint Systems from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Royal Bank of Canada restated an "outperform" rating and issued a $36.00 price target on shares of Verint Systems in a report on Wednesday, January 15th. Finally, Jefferies Financial Group raised their price objective on Verint Systems from $28.00 to $34.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $35.67.

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Insider Buying and Selling at Verint Systems

In other news, CFO Grant A. Highlander sold 12,880 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 117,137 shares of the company's stock, valued at $3,426,257.25. The trade was a 9.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Peter Fante sold 16,233 shares of Verint Systems stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $27.52, for a total transaction of $446,732.16. Following the completion of the sale, the insider now directly 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 disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Verint Systems Price Performance

Shares of VRNT traded down $0.57 during mid-day trading on Monday, reaching $21.64. 756,837 shares of the company's stock were exchanged, compared to its average volume of 719,670. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47. Verint Systems Inc. has a 52-week low of $21.00 and a 52-week high of $38.17. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 0.97 and a beta of 1.29. The company has a 50-day simple moving average of $25.12 and a two-hundred day simple moving average of $25.58.

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.