State Board of Administration of Florida Retirement System Sells 6,196 Shares of Verint Systems Inc. (NASDAQ:VRNT)

State Board of Administration of Florida Retirement System cut its stake in Verint Systems Inc. (NASDAQ:VRNT) by 19.0% in the first quarter, HoldingsChannel reports. The fund owned 26,407 shares of the technology company’s stock after selling 6,196 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Verint Systems were worth $1,201,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in shares of Verint Systems by 4.6% in the first quarter. Victory Capital Management Inc. now owns 2,356,165 shares of the technology company’s stock valued at $107,182,000 after purchasing an additional 102,677 shares in the last quarter. Cardinal Capital Management LLC CT lifted its stake in shares of Verint Systems by 11.6% during the fourth quarter. Cardinal Capital Management LLC CT now owns 1,741,777 shares of the technology company’s stock valued at $117,013,000 after acquiring an additional 180,574 shares during the period. Norges Bank bought a new position in Verint Systems in the fourth quarter valued at about $61,630,000. Neumeier Poma Investment Counsel LLC increased its position in Verint Systems by 19.6% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 802,078 shares of the technology company’s stock worth $53,884,000 after purchasing an additional 131,645 shares during the period. Finally, Phoenix Holdings Ltd. raised its holdings in Verint Systems by 47.9% during the 4th quarter. Phoenix Holdings Ltd. now owns 793,499 shares of the technology company’s stock worth $53,079,000 after purchasing an additional 256,921 shares during the last quarter.

In other news, Director Richard N. Nottenburg sold 2,517 shares of the company’s stock in a transaction that occurred on Friday, April 9th. The stock was sold at an average price of $45.91, for a total transaction of $115,555.47. Following the sale, the director now owns 5,109 shares in the company, valued at approximately $234,554.19. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dan Bodner sold 62,071 shares of the firm’s stock in a transaction on Wednesday, April 7th. The shares were sold at an average price of $46.36, for a total transaction of $2,877,611.56. The disclosure for this sale can be found here. Insiders sold 181,457 shares of company stock worth $8,371,996 over the last quarter. 1.90% of the stock is owned by corporate insiders.

VRNT has been the topic of several analyst reports. Evercore ISI began coverage on shares of Verint Systems in a report on Wednesday, June 2nd. They issued an “outperform” rating and a $75.00 price objective on the stock. Royal Bank of Canada decreased their price objective on Verint Systems from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, April 1st. TheStreet cut Verint Systems from a “b” rating to a “c” rating in a report on Wednesday, March 31st. Zacks Investment Research lowered shares of Verint Systems from a “buy” rating to a “hold” rating in a research note on Thursday, June 3rd. Finally, Oppenheimer lowered their target price on shares of Verint Systems from $89.00 to $60.00 in a research note on Thursday, April 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $62.56.

Shares of Verint Systems stock opened at $45.66 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of -198.51, a price-to-earnings-growth ratio of 2.51 and a beta of 0.88. The firm has a 50-day moving average price of $46.62. Verint Systems Inc. has a one year low of $20.19 and a one year high of $52.70.

Verint Systems (NASDAQ:VRNT) last announced its earnings results on Tuesday, June 8th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.09. Verint Systems had a positive return on equity of 14.45% and a negative net margin of 0.57%. The business had revenue of $201.00 million for the quarter, compared to analyst estimates of $197.10 million. During the same quarter last year, the firm earned $0.52 EPS. Verint Systems’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts expect that Verint Systems Inc. will post 1.31 earnings per share for the current fiscal year.

About Verint Systems

Verint Systems Inc provides customer engagement solutions worldwide. It offers various applications for use in Forecasting and Scheduling, which understands the work needed to meet and exceed customer expectations; Quality and Compliance that uses automation and analytics for customer interactions for attended and self-service channels; Interaction Insights, which extracts insights from structured and unstructured customer interactions and activities; Real-Time Work that supports in-the-moment workforce activities; Self-Service, which connects customers and employees with information, resources, and support; Case Management that helps employees to improve efficiency, time to resolution, compliance, and customer satisfaction; and Knowledge Management, which help agents to deliver stellar service with tools.

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Institutional Ownership by Quarter for Verint Systems (NASDAQ:VRNT)

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