Comerica Bank increased its stake in Verint Systems Inc. (NASDAQ: VRNT – Get a rating) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund held 6,193 shares of the technology company after buying 323 additional shares during the period. Comerica Bank’s holdings in Verint Systems were worth $345,000 at the end of the last quarter.
A number of other hedge funds have also recently changed their positions in the business. KRS Capital Management LLC acquired a new stake in Verint Systems during Q4 for approximately $36,000. Alpha Paradigm Partners LLC acquired a new stake in Verint Systems during Q4 valued at approximately $65,000. Strs Ohio acquired a new stake in Verint Systems during Q4 worth approximately $78,000. Pinebridge Investments LP acquired a new stake in Verint Systems during Q4 valued at approximately $105,000. Finally, Gladius Capital Management LP acquired a new stake in Verint Systems during the 4th quarter at a value of approximately $149,000.
Analysts set new price targets
VRNT has been the subject of several research reports. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a Wednesday, July 6, report. TheStreet upgraded Verint Systems from a “b-” rating to a “c” rating in a Tuesday, April 12 report. Goldman Sachs Group has downgraded Verint Systems from a “buy” rating to a “neutral” rating and has set a price target of $57.00 for the company. in a report on Tuesday, April 12. Evercore ISI lowered its price target on Verint Systems to $65.00 in a Thursday, June 9 report. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a price target of $61.00 on Verint Systems stock in a Wednesday, June 8 report. One analyst rated the stock with a hold rating and four rated the company’s stock with a buy rating. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.80.
Insider buying and selling
In related news, Insider Pierre Fante sold 957 shares of the company in a trade on Tuesday, June 14. The stock was sold at an average price of $43.21, for a total transaction of $41,351.97. As a result of the sale, the insider now owns 52,706 shares of the company, valued at approximately $2,277,426.26. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. In related news, Insider Pierre Fante sold 957 shares of the company in a trade on Tuesday, June 14. The stock was sold at an average price of $43.21, for a total transaction of $41,351.97. As a result of the sale, the insider now owns 52,706 shares of the company, valued at approximately $2,277,426.26. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Also, the president Moose Moriah sold 2,337 shares of the company in a trade on Monday, June 13. The stock was sold at an average price of $44.88, for a total value of $104,884.56. Following the sale, the president now owns 118,485 shares of the company, valued at approximately $5,317,606.80. Disclosure of this sale can be found here. Insiders sold 27,701 shares of the company worth $1,198,489 in the past 90 days. Insiders hold 2.40% of the shares of the company.
Verint Systems Price Performance
Shares of NASDAQ VRNT opened at $45.67 on Friday. The stock has a market capitalization of $2.95 billion, a PE ratio of -415.14, a P/E/G ratio of 1.98 and a beta of 0.84. The company has a debt ratio of 0.49, a current ratio of 1.22 and a quick ratio of 1.20. The company has a fifty-day moving average price of $45.31 and a two-hundred-day moving average price of $49.50. Verint Systems Inc. has a fifty-two week low of $39.83 and a fifty-two week high of $56.39.
Verint Systems (NASDAQ: VRNT – Get a rating) last released its quarterly results on Tuesday, June 7. The technology company reported earnings per share (EPS) of $0.27 for the quarter, beating the consensus estimate of $0.26 by $0.01. The company posted revenue of $219.25 million for the quarter, versus analyst estimates of $215.52 million. Verint Systems had a return on equity of 13.49% and a net margin of 1.56%. The company’s revenue for the quarter increased by 8.6% compared to the same quarter last year. In the same quarter last year, the company posted EPS of $0.23. As a group, stock analysts predict Verint Systems Inc. will post earnings per share of 1.49 for the current fiscal year.
Verint Systems Profile
Verint Systems Inc provides customer engagement solutions worldwide. It offers various applications for use in forecasting and planning, which includes the work required to meet and exceed customer expectations; Quality and Compliance that uses automation and analytics of customer interactions for assisted and self-service channels; Interaction Insights, which extracts insights from structured and unstructured customer interactions and activities; Real-time labor that supports real-time workforce activities; Engagement Channels, an application for messaging, social media, chat, email, and interactive voice response; Conversational AI, an intelligent virtual assistant app to enable human-like conversations across all channels; Engagement Orchestration, an application that improves employee efficiency, time to resolution, compliance and customer satisfaction with workflows; Knowledge management, which helps agents provide exceptional service with tools.
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