19,738 Shares in Verint Systems Inc. (NASDAQ:VRNT) Purchased by Cerity Partners LLC

Key Points

• Cerity Partners LLC acquired 19,738 shares in Verint Systems Inc., valued at approximately $352,000, indicating institutional interest in the company.
• Verint Systems reported a quarterly earnings miss, with earnings per share of $0.29 compared to analyst expectations of $0.41, alongside a 6% year-over-year revenue decline.
• Analysts maintain a consensus rating of "Moderate Buy" for Verint Systems, with a target price averaging around $31.71, reflecting positive sentiment despite recent performance challenges.

Cerity Partners LLC acquired a new stake in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19,738 shares of the technology company's stock, valued at approximately $352,000.

A number of other hedge funds have also modified their holdings of the stock. Marshall Wace LLP bought a new position in shares of Verint Systems in the fourth quarter valued at approximately $22,528,000. Arrowstreet Capital Limited Partnership raised its stake in shares of 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 in the last quarter. Invenomic Capital Management LP acquired a new position in shares of Verint Systems in the 4th quarter valued at $14,653,000. Massachusetts Financial Services Co. MA boosted its holdings in Verint Systems by 48.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,263,502 shares of the technology company's stock valued at $34,683,000 after purchasing an additional 412,655 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew 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 valued at $68,054,000 after purchasing an additional 338,454 shares during the period. 94.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VRNT. Needham & Company LLC reissued a "buy" rating and set a $30.00 price objective on shares of Verint Systems in a report on Thursday, June 5th. Rosenblatt Securities assumed coverage on shares of Verint Systems in a research report on Friday, July 18th. They issued a "buy" rating and a $40.00 target price for the company. Wedbush reiterated an "outperform" rating and issued a $30.00 price target on shares of Verint Systems in a research report on Wednesday, June 4th. Finally, Cowen reissued a "buy" rating on shares of Verint Systems in a report on Wednesday, June 4th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Verint Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.71.

Verint Systems Trading Down 1.2%

Verint Systems stock opened at $21.86 on Friday. Verint Systems Inc. has a 1-year low of $14.15 and a 1-year high of $37.31. The firm has a market capitalization of $1.32 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. The firm's 50 day simple moving average is $19.06 and its 200 day simple moving average is $20.44.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.12). Verint Systems had a net margin of 7.66% and a return on equity of 12.35%. The firm had revenue of $173.62 million for the quarter, compared to analysts' expectations of $194.61 million. During the same quarter last year, the firm earned $0.59 earnings per share. The firm's revenue for the quarter was down 6.0% on a year-over-year basis. Research analysts forecast that Verint Systems Inc. will post 1.92 earnings per share for the current year.

About Verint Systems

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.

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