ACG Wealth trimmed its holdings in Verint Systems Inc. (NASDAQ:VRNT – Get Rating) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,585 shares of the technology company's stock after selling 400 shares during the period. ACG Wealth's holdings in Verint Systems were worth $152,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL acquired a new stake in Verint Systems in the 1st quarter worth about $429,000. GSA Capital Partners LLP acquired a new stake in Verint Systems in the 4th quarter worth about $301,000. Alpha Paradigm Partners LLC acquired a new stake in Verint Systems in the 4th quarter worth about $65,000. Geode Capital Management LLC boosted its stake in Verint Systems by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,140,499 shares of the technology company's stock worth $59,887,000 after buying an additional 4,056 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Verint Systems by 1.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,554,823 shares of the technology company's stock worth $132,085,000 after buying an additional 48,597 shares during the last quarter.
Get Verint Systems alerts:Insiders Place Their Bets
In other Verint Systems news, CEO Dan Bodner sold 81,740 shares of Verint Systems stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $38.13, for a total transaction of $3,116,746.20. Following the sale, the chief executive officer now directly owns 1,060,152 shares in the company, valued at approximately $40,423,595.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Verint Systems news, insider Peter Fante sold 6,289 shares of Verint Systems stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $43.38, for a total transaction of $272,816.82. Following the sale, the insider now directly owns 46,417 shares in the company, valued at approximately $2,013,569.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dan Bodner sold 81,740 shares of the business's stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $38.13, for a total value of $3,116,746.20. Following the completion of the sale, the chief executive officer now owns 1,060,152 shares of the company's stock, valued at $40,423,595.76. The disclosure for this sale can be found here. Insiders have sold 140,032 shares of company stock worth $5,372,437 in the last three months. 2.40% of the stock is owned by insiders.
Verint Systems Stock Down 2.0 %
Verint Systems stock opened at $34.67 on Friday. The stock's 50 day moving average price is $44.97 and its 200 day moving average price is $47.72. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.31 and a quick ratio of 1.30. Verint Systems Inc. has a one year low of $34.40 and a one year high of $56.39.Verint Systems (NASDAQ:VRNT – Get Rating) last released its quarterly earnings results on Wednesday, September 7th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. The firm had revenue of $223.63 million for the quarter, compared to analyst estimates of $225.98 million. Verint Systems had a return on equity of 12.80% and a net margin of 0.72%. Verint Systems's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. Research analysts forecast that Verint Systems Inc. will post 1.52 earnings per share for the current fiscal year.
Analysts Set New Price Targets
VRNT has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $61.00 price objective on shares of Verint Systems in a research note on Wednesday, June 8th. Evercore ISI reduced their price objective on Verint Systems to $65.00 in a research note on Thursday, June 9th. StockNews.com lowered Verint Systems from a "buy" rating to a "hold" rating in a research note on Tuesday, August 23rd. Royal Bank of Canada reduced their price objective on Verint Systems from $61.00 to $58.00 and set an "outperform" rating on the stock in a research note on Thursday, September 8th. Finally, Wedbush reduced their price objective on Verint Systems from $65.00 to $56.00 and set an "outperform" rating on the stock in a research note on Thursday, September 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Verint Systems presently has an average rating of "Moderate Buy" and a consensus price target of $59.40.
About Verint Systems
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Verint Systems Inc provides customer engagement solutions worldwide. It offers various applications for use in Forecasting and Scheduling, which understands the work needed to meet and exceed customer expectations; Quality and Compliance that uses automation and analytics for customer interactions for attended and self-service channels; Interaction Insights, which extracts insights from structured and unstructured customer interactions and activities; Real-Time Work that supports in-the-moment workforce activities; Engagement Channels, an application for messaging, social, chat, email, and interactive voice response; Conversational AI, an intelligent virtual assistant application to enable human-like conversations across every channel; Engagement Orchestration, an application that improves employee efficiency, time to resolution, compliance, and customer satisfaction with workflows; Knowledge Management, which help agents to deliver stellar service with tools.
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