State of New Jersey Common Pension Fund D increased its holdings in shares of Verint Systems Inc. (NASDAQ:VRNT – Get Rating) by 25.1% during the fourth quarter, Holdings Channel reports. The fund owned 60,111 shares of the technology company’s stock after acquiring an additional 12,058 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Verint Systems were worth $2,181,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the business. Point72 Hong Kong Ltd boosted its stake in Verint Systems by 1,537.2% in the 3rd quarter. Point72 Hong Kong Ltd now owns 3,520 shares of the technology company’s stock valued at $118,000 after purchasing an additional 3,305 shares during the period. Great West Life Assurance Co. Can boosted its stake in Verint Systems by 14.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 3,456 shares of the technology company’s stock valued at $190,000 after purchasing an additional 438 shares during the period. Royal Bank of Canada boosted its stake in Verint Systems by 149.5% in the 3rd quarter. Royal Bank of Canada now owns 6,280 shares of the technology company’s stock valued at $211,000 after purchasing an additional 3,763 shares during the period. Renaissance Technologies LLC bought a new stake in Verint Systems in the 1st quarter valued at $233,000. Finally, Comerica Bank boosted its stake in Verint Systems by 11.3% in the 3rd quarter. Comerica Bank now owns 6,893 shares of the technology company’s stock valued at $234,000 after purchasing an additional 700 shares during the period. 99.29% of the stock is owned by institutional investors and hedge funds.
Verint Systems Price Performance
Verint Systems stock opened at $35.76 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 1.32. Verint Systems Inc. has a 52 week low of $31.63 and a 52 week high of $55.95. The stock has a market capitalization of $2.33 billion, a P/E ratio of -357.56, a price-to-earnings-growth ratio of 2.09 and a beta of 0.99. The stock has a fifty day moving average of $37.19 and a 200-day moving average of $36.84.
Verint Systems (NASDAQ:VRNT – Get Rating) last posted its quarterly earnings results on Wednesday, March 29th. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. Verint Systems had a return on equity of 15.36% and a net margin of 1.65%. The company had revenue of $236.75 million during the quarter, compared to analysts’ expectations of $233.92 million. On average, sell-side analysts expect that Verint Systems Inc. will post 1.77 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Verint Systems in a research note on Thursday, March 30th. Royal Bank of Canada reduced their price target on Verint Systems from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, March 30th. StockNews.com started coverage on Verint Systems in a research report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Jefferies Financial Group downgraded Verint Systems from a “buy” rating to a “hold” rating and cut their target price for the company from $45.00 to $40.00 in a research report on Thursday, January 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.63.
Insider Transactions at Verint Systems
In other news, CEO Dan Bodner sold 30,555 shares of the business’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $37.19, for a total transaction of $1,136,340.45. Following the completion of the transaction, the chief executive officer now owns 1,130,422 shares of the company’s stock, valued at approximately $42,040,394.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Verint Systems news, CEO Dan Bodner sold 30,555 shares of the stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $37.19, for a total value of $1,136,340.45. Following the completion of the transaction, the chief executive officer now directly owns 1,130,422 shares in the company, valued at $42,040,394.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Grant A. Highlander sold 931 shares of the stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $38.66, for a total value of $35,992.46. Following the completion of the transaction, the chief financial officer now owns 62,899 shares of the company’s stock, valued at $2,431,675.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,583 shares of company stock valued at $6,831,027. Corporate insiders own 2.40% of the company’s stock.
About Verint Systems
Verint Systems, Inc engages in providing actionable intelligence. It operates through the following segments: Customer Engagement Solutions and Cyber Intelligence Solutions. The Customer Engagement segment includes customer-centric organizations optimize customer engagement, increase customer loyalty, and maximize revenue opportunities, while generating operational efficiencies, reducing cost, and mitigating risk.
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