Wakefield Asset Management LLLP Purchases New Shares in Verint Systems Inc. (NASDAQ:VRNT)

Wakefield Asset Management LLLP purchased a new stake in Verint Systems Inc. (NASDAQ:VRNT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 28,485 shares of the technology company’s stock, valued at approximately $917,000.

A number of other hedge funds have also recently added to or reduced their stakes in VRNT. Wellington Management Group LLP acquired a new stake in shares of Verint Systems during the 4th quarter worth approximately $34,172,000. Norges Bank bought a new position in shares of Verint Systems in the 4th quarter valued at $18,601,000. Mesirow Institutional Investment Management Inc. acquired a new position in shares of Verint Systems during the 1st quarter worth $14,675,000. Victory Capital Management Inc. lifted its position in shares of Verint Systems by 5.9% during the 2nd quarter. Victory Capital Management Inc. now owns 4,143,227 shares of the technology company’s stock worth $133,412,000 after buying an additional 232,499 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in Verint Systems by 35.1% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 814,959 shares of the technology company’s stock valued at $26,242,000 after buying an additional 211,570 shares in the last quarter. Institutional investors own 94.95% of the company’s stock.

Insider Transactions at Verint Systems

In related news, insider Peter Fante sold 4,417 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $36.60, for a total transaction of $161,662.20. Following the transaction, the insider now owns 98,975 shares in the company, valued at approximately $3,622,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Dan Bodner sold 375,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $33.76, for a total transaction of $12,660,000.00. Following the completion of the sale, the chief executive officer now owns 609,764 shares in the company, valued at $20,585,632.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Peter Fante sold 4,417 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $36.60, for a total transaction of $161,662.20. Following the completion of the transaction, the insider now directly owns 98,975 shares in the company, valued at $3,622,485. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VRNT. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Verint Systems in a report on Thursday. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a research report on Thursday. Jefferies Financial Group reduced their price target on Verint Systems from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday. TD Cowen dropped their price objective on shares of Verint Systems from $40.00 to $36.00 and set a “buy” rating for the company in a report on Thursday. Finally, Evercore ISI reduced their target price on shares of Verint Systems from $34.00 to $30.00 and set an “in-line” rating on the stock in a report on Thursday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Verint Systems has a consensus rating of “Moderate Buy” and an average price target of $34.17.

Verint Systems Price Performance

VRNT stock opened at $26.21 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 54.61, a PEG ratio of 1.25 and a beta of 1.24. The company’s fifty day simple moving average is $32.46 and its 200 day simple moving average is $31.95. Verint Systems Inc. has a 12-month low of $18.41 and a 12-month high of $38.17.

Verint Systems (NASDAQ:VRNT) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Verint Systems had a net margin of 6.78% and a return on equity of 16.27%. The business had revenue of $210.17 million during the quarter, compared to analyst estimates of $212.81 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts expect that Verint Systems Inc. will post 1.99 earnings per share for the current year.

Verint Systems Company Profile

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.