abrdn plc Decreases Stake in Verint Systems Inc. (NASDAQ:VRNT)

abrdn plc lowered its position in shares of Verint Systems Inc. (NASDAQ:VRNT) by 13.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 604,963 shares of the technology company’s stock after selling 90,603 shares during the quarter. abrdn plc owned about 0.96% of Verint Systems worth $16,352,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of VRNT. CWM LLC grew its holdings in shares of Verint Systems by 241.8% during the 3rd quarter. CWM LLC now owns 1,309 shares of the technology company’s stock worth $30,000 after purchasing an additional 926 shares during the period. SG Americas Securities LLC boosted its holdings in Verint Systems by 75.5% in the 3rd quarter. SG Americas Securities LLC now owns 21,921 shares of the technology company’s stock worth $504,000 after acquiring an additional 9,433 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in Verint Systems in the 3rd quarter worth approximately $122,000. Oak Thistle LLC purchased a new position in Verint Systems in the 3rd quarter worth approximately $216,000. Finally, Bailard Inc. purchased a new position in Verint Systems in the 3rd quarter worth approximately $400,000. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Insider Activity at Verint Systems

In related news, Director Richard N. Nottenburg sold 5,274 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $31.17, for a total transaction of $164,390.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Dan Bodner sold 33,472 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $31.29, for a total value of $1,047,338.88. Following the completion of the transaction, the chief executive officer now owns 860,630 shares of the company’s stock, valued at $26,929,112.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard N. Nottenburg sold 5,274 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $31.17, for a total value of $164,390.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,360 shares of company stock valued at $6,924,875. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. TheStreet upgraded Verint Systems from a “d+” rating to a “c-” rating in a report on Wednesday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of Verint Systems in a report on Thursday, March 28th. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Verint Systems in a research note on Thursday, March 28th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Verint Systems in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Verint Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.20.

Verint Systems Stock Performance

VRNT stock opened at $31.04 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.94 billion, a P/E ratio of 107.04, a P/E/G ratio of 1.28 and a beta of 1.20. Verint Systems Inc. has a 12-month low of $18.41 and a 12-month high of $40.28. The stock’s 50 day simple moving average is $31.00 and its 200 day simple moving average is $27.26.

Verint Systems (NASDAQ:VRNT) last posted its quarterly earnings results on Wednesday, March 27th. The technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. The business had revenue of $265.22 million for the quarter, compared to analyst estimates of $261.45 million. Verint Systems had a return on equity of 16.60% and a net margin of 4.24%. As a group, equities research analysts predict that Verint Systems Inc. will post 1.97 EPS 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.