Pitcairn Co. Makes New Investment in Verint Systems Inc. (NASDAQ:VRNT)

Pitcairn Co. acquired a new position in shares of Verint Systems Inc. (NASDAQ:VRNT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,421 shares of the technology company’s stock, valued at approximately $533,000.

Several other hedge funds and other institutional investors have also made changes to their positions in VRNT. State Street Corp increased its position in Verint Systems by 1.5% during the third quarter. State Street Corp now owns 1,573,801 shares of the technology company’s stock worth $39,864,000 after buying an additional 23,400 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Verint Systems during the 4th quarter worth approximately $5,276,000. Geode Capital Management LLC increased its holdings in shares of Verint Systems by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,500,087 shares of the technology company’s stock worth $38,004,000 after acquiring an additional 4,034 shares during the last quarter. Quantbot Technologies LP bought a new stake in Verint Systems in the 3rd quarter valued at $58,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in Verint Systems by 32.4% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 775,869 shares of the technology company’s stock valued at $21,298,000 after purchasing an additional 189,860 shares during the last quarter. 94.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Needham & Company LLC dropped their price objective on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Wedbush lowered their price target on shares of Verint Systems from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, March 28th. Evercore ISI reduced their price objective on Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a report on Thursday, March 27th. Royal Bank of Canada decreased their target price on Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, March 27th. Finally, StockNews.com cut Verint Systems from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.33.

Verint Systems Stock Down 4.9 %

NASDAQ VRNT opened at $15.20 on Friday. The company has a market cap of $944.50 million, a price-to-earnings ratio of 16.17, a PEG ratio of 0.97 and a beta of 1.29. Verint Systems Inc. has a 1-year low of $14.16 and a 1-year high of $38.17. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $22.94 and a 200-day moving average of $24.36.

Verint Systems (NASDAQ:VRNT) last released its earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). The company had revenue of $253.50 million for the quarter, compared to the consensus estimate of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, equities research analysts expect that Verint Systems Inc. will post 1.92 earnings per share for the current fiscal year.

About Verint Systems

Verint Systems Inc provides customer engagement solutions worldwide. It offers forecasting and scheduling, channels and routing, knowledge management, fraud and security solutions, quality and compliance, analytics and insights, real-time assistance, self-services, financial compliance, and voice pf the consumer solutions.