Phocas Financial Corp. Has $754,000 Position in Verint Systems Inc. (NASDAQ:VRNT)

Phocas Financial Corp. cut its stake in Verint Systems Inc. (NASDAQ:VRNT) by 85.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,467 shares of the technology company’s stock after selling 155,438 shares during the quarter. Phocas Financial Corp.’s holdings in Verint Systems were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of VRNT. State Street Corp increased its position in Verint Systems by 1.5% in the 3rd quarter. State Street Corp now owns 1,573,801 shares of the technology company’s stock worth $39,864,000 after purchasing an additional 23,400 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Verint Systems by 26.5% in the 3rd quarter. Fisher Asset Management LLC now owns 1,516,409 shares of the technology company’s stock valued at $38,411,000 after buying an additional 317,804 shares in the last quarter. Geode Capital Management LLC increased its holdings in Verint Systems by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,500,087 shares of the technology company’s stock worth $38,004,000 after buying an additional 4,034 shares during the last quarter. Global Alpha Capital Management Ltd. raised its position in Verint Systems by 22.6% during the third quarter. Global Alpha Capital Management Ltd. now owns 1,231,703 shares of the technology company’s stock valued at $31,199,000 after acquiring an additional 227,000 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Verint Systems by 32.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 775,869 shares of the technology company’s stock valued at $21,298,000 after acquiring an additional 189,860 shares during the last quarter. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Verint Systems Trading Down 2.0 %

Shares of NASDAQ:VRNT opened at $23.86 on Wednesday. Verint Systems Inc. has a 52-week low of $21.27 and a 52-week high of $38.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The company has a market cap of $1.49 billion, a P/E ratio of 25.38, a P/E/G ratio of 0.97 and a beta of 1.24. The stock’s 50-day moving average is $25.92 and its 200-day moving average is $26.14.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Verint Systems in a research note on Friday, January 10th. StockNews.com cut shares of Verint Systems from a “buy” rating to a “hold” rating in a report on Sunday. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Verint Systems in a report on Wednesday, January 15th. Finally, Jefferies Financial Group upped their price target on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

Insider Buying and Selling at Verint Systems

In other news, CFO Grant A. Highlander sold 12,880 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $29.25, for a total transaction of $376,740.00. Following the completion of the transaction, the chief financial officer now owns 117,137 shares of the company’s stock, valued at approximately $3,426,257.25. This represents a 9.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Fante sold 16,233 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $27.52, for a total transaction of $446,732.16. Following the completion of the sale, the insider now owns 73,314 shares of the company’s stock, valued at approximately $2,017,601.28. The trade was a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

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.