State Street Corp Has $51.74 Million Stake in Verint Systems Inc. (VRNT)
State Street Corp increased its position in Verint Systems Inc. (NASDAQ:VRNT) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,193,023 shares of the technology company’s stock after buying an additional 34,260 shares during the period. State Street Corp owned 1.91% of Verint Systems worth $51,744,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of VRNT. Russell Investments Group Ltd. acquired a new position in shares of Verint Systems during the fourth quarter valued at about $148,000. Dimensional Fund Advisors LP boosted its position in shares of Verint Systems by 22.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,036,046 shares of the technology company’s stock valued at $36,521,000 after buying an additional 188,275 shares during the period. Norges Bank acquired a new position in shares of Verint Systems during the fourth quarter valued at about $20,919,000. Teachers Advisors LLC boosted its position in shares of Verint Systems by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 470,749 shares of the technology company’s stock valued at $16,594,000 after buying an additional 2,655 shares during the period. Finally, Cutler Group LP boosted its position in shares of Verint Systems by 449.1% in the first quarter. Cutler Group LP now owns 5,446 shares of the technology company’s stock valued at $236,000 after buying an additional 7,006 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.
Verint Systems Inc. (NASDAQ VRNT) traded down 0.39% during trading on Friday, hitting $38.25. 362,494 shares of the stock traded hands. Verint Systems Inc. has a 52-week low of $33.40 and a 52-week high of $44.70. The stock’s market cap is $2.40 billion. The company’s 50 day moving average price is $39.28 and its 200-day moving average price is $39.71.
Verint Systems (NASDAQ:VRNT) last announced its quarterly earnings results on Wednesday, June 7th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.11. The business had revenue of $265.70 million during the quarter, compared to the consensus estimate of $259.97 million. Verint Systems had a negative net margin of 2.94% and a positive return on equity of 9.76%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS. Equities research analysts forecast that Verint Systems Inc. will post $2.72 earnings per share for the current fiscal year.
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Several research analysts recently issued reports on the stock. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $50.00 target price (up previously from $48.00) on shares of Verint Systems in a report on Friday, June 9th. Royal Bank Of Canada restated an “outperform” rating and set a $48.00 price target (up previously from $44.00) on shares of Verint Systems in a research report on Thursday, June 8th. Zacks Investment Research upgraded shares of Verint Systems from a “hold” rating to a “strong-buy” rating and set a $48.00 price target on the stock in a research report on Wednesday, June 14th. Finally, Imperial Capital reiterated an “in-line” rating and issued a $47.00 target price (up previously from $45.00) on shares of Verint Systems in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $44.38.
In related news, Director Larry F. Myers sold 3,103 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $41.40, for a total value of $128,464.20. Following the sale, the director now directly owns 10,751 shares of the company’s stock, valued at approximately $445,091.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Douglas Robinson sold 2,635 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $40.86, for a total transaction of $107,666.10. Following the completion of the sale, the chief financial officer now directly owns 159,818 shares in the company, valued at $6,530,163.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,584 shares of company stock worth $393,624. 1.30% of the stock is owned by corporate insiders.
Verint Systems Company Profile
Verint Systems Inc offers Actionable Intelligence solutions. The Company delivers its Actionable Intelligence solutions through two operating segments: Customer Engagement Solutions and Cyber Intelligence Solutions. It is a provider of customer engagement software and services that can be deployed on-premises or in the cloud.
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