Verint Systems Inc. (VRNT) Sees Significant Decrease in Short Interest
Verint Systems Inc. (NASDAQ:VRNT) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 2,091,833 shares, a decrease of 18.9% from the October 14th total of 2,580,069 shares. Currently, 3.4% of the company’s shares are sold short. Based on an average daily trading volume, of 306,904 shares, the days-to-cover ratio is currently 6.8 days.
Several analysts have issued reports on VRNT shares. Zacks Investment Research upgraded Verint Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Credit Suisse Group AG reiterated a “sell” rating and set a $32.00 price target on shares of Verint Systems in a report on Monday, August 22nd. JPMorgan Chase & Co. increased their price target on Verint Systems from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, September 8th. Deutsche Bank AG increased their price target on Verint Systems from $35.00 to $37.00 and gave the stock a “hold” rating in a report on Thursday, September 8th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $49.00 price target on shares of Verint Systems in a report on Thursday, September 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Verint Systems currently has a consensus rating of “Buy” and a consensus price target of $42.43.
In other Verint Systems news, Director Larry F. Myers sold 4,243 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $37.51, for a total value of $159,154.93. Following the completion of the sale, the director now directly owns 8,778 shares in the company, valued at approximately $329,262.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Solaris Asset Management LLC boosted its position in Verint Systems by 1,012.5% in the third quarter. Solaris Asset Management LLC now owns 3,115 shares of the company’s stock worth $117,000 after buying an additional 2,835 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Verint Systems by 133.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,158 shares of the company’s stock worth $119,000 after buying an additional 1,804 shares during the period. Pacer Advisors Inc. bought a new position in Verint Systems during the second quarter worth $128,000. D.A. Davidson & CO. boosted its position in Verint Systems by 34.4% in the third quarter. D.A. Davidson & CO. now owns 4,040 shares of the company’s stock worth $150,000 after buying an additional 1,034 shares during the period. Finally, Westpac Banking Corp bought a new position in Verint Systems during the third quarter worth $184,000. 97.23% of the stock is owned by institutional investors.
Verint Systems (NASDAQ:VRNT) opened at 37.20 on Friday. The company’s 50-day moving average price is $36.57 and its 200 day moving average price is $35.17. The firm’s market cap is $2.35 billion. Verint Systems has a 1-year low of $29.76 and a 1-year high of $47.58.
Verint Systems (NASDAQ:VRNT) last released its quarterly earnings results on Wednesday, September 7th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.03. Verint Systems had a positive return on equity of 10.61% and a negative net margin of 0.38%. The company earned $264.20 million during the quarter. During the same period last year, the firm earned $0.76 earnings per share. The business’s revenue was down 11.1% compared to the same quarter last year. On average, equities analysts expect that Verint Systems will post $2.85 earnings per share for the current fiscal year.
Verint Systems Company Profile
Verint Systems Inc offers Actionable Intelligence solutions. The Company’s Actionable Intelligence solutions address Customer Engagement Optimization, Security Intelligence, and Fraud, Risk and Compliance. It offers services, such as strategic consulting, implementation services, training, maintenance and round the clock support, as well as a range of deployment models.
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