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

Wellington Management Group LLP trimmed its holdings in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 38.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,777,885 shares of the technology company's stock after selling 1,103,431 shares during the period. Wellington Management Group LLP owned 2.85% of Verint Systems worth $48,803,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased 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 worth $39,864,000 after acquiring an additional 23,400 shares during the period. Raymond James Financial Inc. acquired a new position in Verint Systems during the 4th quarter worth about $5,276,000. Geode Capital Management LLC lifted its holdings in Verint Systems by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,500,087 shares of the technology company's stock worth $38,004,000 after buying an additional 4,034 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Verint Systems during the 4th quarter worth about $321,000. Finally, Quantbot Technologies LP acquired a new position in Verint Systems during the 3rd quarter worth about $58,000. 94.95% of the stock is owned by institutional investors and hedge funds.

Verint Systems Stock Down 4.0 %

Shares of VRNT traded down $0.65 during mid-day trading on Thursday, reaching $15.42. The company had a trading volume of 212,953 shares, compared to its average volume of 768,662. 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 50-day moving average price of $21.91 and a 200 day moving average price of $24.01. Verint Systems Inc. has a 52 week low of $14.15 and a 52 week high of $38.17. The company has a market capitalization of $958.42 million, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 0.97 and a beta of 1.31.

Remove Ads

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.28). The business had revenue of $253.50 million during the quarter, compared to the consensus estimate of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The business's revenue was down 4.4% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. On average, sell-side analysts forecast that Verint Systems Inc. will post 1.92 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada decreased their target price 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. Evercore ISI decreased their price objective on Verint Systems from $34.00 to $23.00 and set an "in-line" rating for the company in a report on Thursday, March 27th. Needham & Company LLC reduced their target price on Verint Systems from $40.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Wedbush dropped their price objective 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, StockNews.com downgraded Verint Systems from a "buy" rating to a "hold" rating in a research note 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.33.

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.