California State Teachers Retirement System cut its holdings in shares of Verint Systems Inc. (NASDAQ:VRNT) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,870 shares of the technology company’s stock after selling 2,317 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Verint Systems worth $5,918,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of VRNT. Enlightenment Research LLC bought a new stake in Verint Systems during the 4th quarter worth approximately $25,000. Quantamental Technologies LLC purchased a new stake in shares of Verint Systems during the fourth quarter worth $28,000. Investors Research Corp purchased a new stake in shares of Verint Systems during the first quarter worth $30,000. Truvestments Capital LLC purchased a new stake in shares of Verint Systems during the first quarter worth $60,000. Finally, Quadrant Capital Group LLC raised its position in shares of Verint Systems by 179.5% in the first quarter. Quadrant Capital Group LLC now owns 1,311 shares of the technology company’s stock worth $78,000 after buying an additional 842 shares in the last quarter. Institutional investors own 95.61% of the company’s stock.
In related news, insider Elan Moriah sold 11,559 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $62.46, for a total value of $721,975.14. Following the sale, the insider now directly owns 82,108 shares of the company’s stock, valued at approximately $5,128,465.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Dan Bodner sold 30,097 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $63.20, for a total transaction of $1,902,130.40. Following the completion of the sale, the chief executive officer now directly owns 652,131 shares in the company, valued at $41,214,679.20. The disclosure for this sale can be found here. Insiders sold 107,724 shares of company stock valued at $6,756,296 in the last 90 days. Company insiders own 1.40% of the company’s stock.
NASDAQ:VRNT opened at $56.87 on Wednesday. The firm has a market capitalization of $3.72 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.75 and a beta of 1.15. Verint Systems Inc. has a 1-year low of $39.96 and a 1-year high of $63.94. The company has a current ratio of 1.50, a quick ratio of 1.45 and a debt-to-equity ratio of 0.68.
Verint Systems (NASDAQ:VRNT) last posted its quarterly earnings results on Wednesday, May 29th. The technology company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.10. Verint Systems had a net margin of 5.56% and a return on equity of 13.60%. The firm had revenue of $324.16 million for the quarter, compared to the consensus estimate of $317.97 million. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts predict that Verint Systems Inc. will post 2.69 EPS for the current fiscal year.
A number of research analysts recently commented on the company. TheStreet raised Verint Systems from a “c+” rating to a “b+” rating in a research note on Tuesday, February 19th. BidaskClub raised Verint Systems from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Jefferies Financial Group raised their price objective on shares of Verint Systems from $53.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Zacks Investment Research lowered shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 16th. Finally, Wedbush lifted their target price on shares of Verint Systems from $58.00 to $63.00 and gave the company a “hold” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $65.57.
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About Verint Systems
Verint Systems Inc provides actionable intelligence solutions worldwide. The company's Customer Engagement Solutions segment offers automated quality management, automated verification, branch surveillance and investigation, case management, chat engagement, coaching/learning, compliance recording, customer communities, desktop and process analytics, and digital feedback solutions.
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