Price T Rowe Associates Inc. MD raised its stake in Verint Systems Inc. (NASDAQ:VRNT) by 11.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 26,029 shares of the technology company’s stock after purchasing an additional 2,676 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Verint Systems were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in Verint Systems in the second quarter valued at $54,000. Redhawk Wealth Advisors Inc. acquired a new position in Verint Systems in the second quarter valued at $58,000. Northwestern Mutual Wealth Management Co. boosted its stake in Verint Systems by 17,200.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,038 shares of the technology company’s stock valued at $62,000 after acquiring an additional 1,032 shares in the last quarter. Quantamental Technologies LLC acquired a new position in Verint Systems in the second quarter valued at $100,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Verint Systems in the second quarter valued at $125,000. Institutional investors own 97.37% of the company’s stock.
VRNT has been the subject of several research analyst reports. BidaskClub downgraded shares of Verint Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. ValuEngine downgraded shares of Verint Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded shares of Verint Systems from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Jefferies Financial Group decreased their target price on shares of Verint Systems from $72.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. They noted that the move was a valuation call. Finally, TheStreet downgraded shares of Verint Systems from a “b-” rating to a “c+” rating in a research note on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Verint Systems currently has an average rating of “Hold” and a consensus target price of $67.67.
Shares of VRNT opened at $44.01 on Friday. Verint Systems Inc. has a fifty-two week low of $39.96 and a fifty-two week high of $63.94. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. The firm has a 50-day simple moving average of $46.92 and a 200-day simple moving average of $54.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 1.50.
Verint Systems (NASDAQ:VRNT) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. Verint Systems had a net margin of 4.58% and a return on equity of 13.44%. The business had revenue of $331.00 million during the quarter, compared to the consensus estimate of $334.56 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Verint Systems Inc. will post 2.62 EPS for the current year.
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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