Bastion Asset Management Inc. Takes $3.84 Million Position in Verint Systems Inc. (NASDAQ:VRNT)

Bastion Asset Management Inc. purchased a new position in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 144,334 shares of the technology company's stock, valued at approximately $3,841,000. Verint Systems accounts for approximately 2.5% of Bastion Asset Management Inc.'s holdings, making the stock its 12th largest holding. Bastion Asset Management Inc. owned 0.23% of Verint Systems as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of Verint Systems in the fourth quarter valued at approximately $22,528,000. Arrowstreet Capital Limited Partnership increased its stake in Verint Systems by 491.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 764,498 shares of the technology company's stock valued at $20,985,000 after buying an additional 635,334 shares during the period. Global Alpha Capital Management Ltd. raised its position in Verint Systems by 39.5% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,717,703 shares of the technology company's stock worth $47,151,000 after buying an additional 486,000 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Verint Systems by 48.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,263,502 shares of the technology company's stock worth $34,683,000 after acquiring an additional 412,655 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Verint Systems by 15.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,479,163 shares of the technology company's stock worth $68,054,000 after acquiring an additional 338,454 shares during the period. 94.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Verint Systems news, insider Peter Fante sold 9,439 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $16.50, for a total value of $155,743.50. Following the transaction, the insider now directly owns 20,450 shares in the company, valued at approximately $337,425. This represents a 31.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen J. Gold sold 2,744 shares of Verint Systems stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $16.07, for a total transaction of $44,096.08. Following the sale, the director now owns 28,473 shares of the company's stock, valued at approximately $457,561.11. This trade represents a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VRNT shares. Evercore ISI cut their price target on shares of Verint Systems from $34.00 to $23.00 and set an "in-line" rating for the company in a report on Thursday, March 27th. Wedbush cut their target price on Verint Systems from $38.00 to $30.00 and set an "outperform" rating for the company in a research note on Friday, March 28th. Needham & Company LLC restated a "buy" rating and issued a $30.00 price target on shares of Verint Systems in a research note on Friday, April 25th. StockNews.com cut Verint Systems from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Royal Bank of Canada decreased their target price on shares of Verint Systems from $36.00 to $29.00 and set an "outperform" rating on the stock in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $30.33.

Verint Systems Price Performance

VRNT stock traded down $0.14 during midday trading on Friday, hitting $17.89. 372,413 shares of the stock were exchanged, compared to its average volume of 793,390. The stock's 50-day moving average price is $18.53 and its 200-day moving average price is $23.01. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 0.97 and a beta of 1.45. Verint Systems Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $38.17.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.28). Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The firm had revenue of $253.50 million for the quarter, compared to analyst estimates of $276.82 million. During the same period last year, the firm earned $1.07 EPS. The company's quarterly revenue was down 4.4% compared to the same quarter last year. Research analysts predict that Verint Systems Inc. will post 1.92 earnings per share 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.