Lapides Asset Management LLC Trims Stake in Verint Systems Inc. (VRNT)
Lapides Asset Management LLC trimmed its stake in shares of Verint Systems Inc. (NASDAQ:VRNT) by 10.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 513,600 shares of the technology company’s stock after selling 61,000 shares during the period. Verint Systems makes up about 4.4% of Lapides Asset Management LLC’s investment portfolio, making the stock its 3rd biggest position. Lapides Asset Management LLC owned approximately 0.81% of Verint Systems worth $21,494,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in Verint Systems by 9,688.6% in the second quarter. Russell Investments Group Ltd. now owns 49,139 shares of the technology company’s stock valued at $2,000,000 after purchasing an additional 48,637 shares in the last quarter. Martingale Asset Management L P increased its stake in Verint Systems by 207.6% in the second quarter. Martingale Asset Management L P now owns 165,947 shares of the technology company’s stock valued at $6,755,000 after purchasing an additional 112,006 shares in the last quarter. Cipher Capital LP increased its stake in Verint Systems by 4.4% in the second quarter. Cipher Capital LP now owns 78,447 shares of the technology company’s stock valued at $3,193,000 after purchasing an additional 3,322 shares in the last quarter. AHL Partners LLP increased its stake in Verint Systems by 118.9% in the second quarter. AHL Partners LLP now owns 99,139 shares of the technology company’s stock valued at $4,035,000 after purchasing an additional 53,851 shares in the last quarter. Finally, Creative Planning increased its stake in Verint Systems by 0.9% in the second quarter. Creative Planning now owns 7,856 shares of the technology company’s stock valued at $320,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 94.31% of the company’s stock.
Several equities research analysts have commented on the stock. Deutsche Bank AG upped their target price on shares of Verint Systems from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, September 7th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $49.00 target price on shares of Verint Systems in a research note on Thursday, September 28th. Zacks Investment Research raised shares of Verint Systems from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Wednesday, September 13th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $48.00 price objective on shares of Verint Systems in a research report on Tuesday, August 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $46.43.
Shares of Verint Systems Inc. (NASDAQ:VRNT) traded up $0.20 during mid-day trading on Wednesday, hitting $41.55. 280,800 shares of the stock traded hands, compared to its average volume of 421,987. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.63 and a quick ratio of 1.59. Verint Systems Inc. has a 52 week low of $33.40 and a 52 week high of $44.70. The company has a market capitalization of $2,635.43, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 2.29 and a beta of 1.25.
Verint Systems (NASDAQ:VRNT) last announced its earnings results on Wednesday, September 6th. The technology company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.14. Verint Systems had a negative net margin of 2.42% and a positive return on equity of 9.90%. The business had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $270.14 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. sell-side analysts predict that Verint Systems Inc. will post 1.81 earnings per share for the current fiscal year.
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Verint Systems 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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