Lapides Asset Management LLC reduced its position in shares of Verint Systems Inc. (NASDAQ:VRNT) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 596,400 shares of the technology company’s stock after selling 38,300 shares during the period. Verint Systems accounts for approximately 4.9% of Lapides Asset Management LLC’s investment portfolio, making the stock its largest position. Lapides Asset Management LLC owned about 0.96% of Verint Systems worth $25,869,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Verint Systems by 5.2% in the first quarter. Vanguard Group Inc. now owns 5,110,172 shares of the technology company’s stock worth $221,654,000 after buying an additional 250,730 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Verint Systems by 13.6% in the first quarter. Alliancebernstein L.P. now owns 2,824,726 shares of the technology company’s stock worth $122,522,000 after buying an additional 338,476 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Verint Systems by 23.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,274,392 shares of the technology company’s stock worth $55,278,000 after buying an additional 238,346 shares in the last quarter. State Street Corp increased its position in shares of Verint Systems by 3.0% in the first quarter. State Street Corp now owns 1,193,023 shares of the technology company’s stock worth $51,744,000 after buying an additional 34,260 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Verint Systems by 19.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 945,905 shares of the technology company’s stock worth $41,029,000 after buying an additional 152,194 shares in the last quarter. Institutional investors and hedge funds own 95.95% of the company’s stock.
Shares of Verint Systems Inc. (NASDAQ VRNT) traded down 0.74% on Friday, reaching $40.50. The company had a trading volume of 724,225 shares. The firm’s 50 day moving average is $40.77 and its 200 day moving average is $38.84. Verint Systems Inc. has a 12 month low of $31.52 and a 12 month high of $44.70. The firm’s market capitalization is $2.54 billion.
Verint Systems (NASDAQ:VRNT) last posted its earnings results on Wednesday, June 7th. The technology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.38 by $0.11. The firm had revenue of $265.70 million for the quarter, compared to analyst estimates of $259.97 million. Verint Systems had a positive return on equity of 9.76% and a negative net margin of 2.94%. Verint Systems’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, equities research analysts expect that Verint Systems Inc. will post $2.71 earnings per share for the current fiscal year.
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VRNT has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price target on Verint Systems from $37.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, March 29th. Deutsche Bank AG boosted their target price on Verint Systems from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, March 29th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $49.00 target price on shares of Verint Systems in a research note on Sunday, March 19th. Goldman Sachs Group, Inc. (The) boosted their target price on Verint Systems from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, March 29th. Finally, Zacks Investment Research downgraded Verint Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Verint Systems currently has a consensus rating of “Buy” and an average target price of $44.38.
In other Verint Systems news, insider Peter Fante sold 2,190 shares of the firm’s stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $39.19, for a total transaction of $85,826.10. Following the transaction, the insider now owns 20,987 shares of the company’s stock, valued at $822,480.53. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dan Bodner sold 137,773 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $42.74, for a total value of $5,888,418.02. Following the transaction, the chief executive officer now directly owns 528,226 shares in the company, valued at approximately $22,576,379.24. The disclosure for this sale can be found here. Insiders sold 226,248 shares of company stock worth $9,480,071 in the last three months. 1.30% of the stock is currently 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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