Advisor Resource Council Makes New Investment in Verint Systems Inc. (NASDAQ:VRNT)

Advisor Resource Council acquired a new position in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 22,937 shares of the technology company's stock, valued at approximately $393,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new stake in Verint Systems during the 4th quarter worth approximately $43,000. Headlands Technologies LLC bought a new stake in Verint Systems during the 4th quarter worth approximately $52,000. Parkside Financial Bank & Trust bought a new stake in Verint Systems during the 4th quarter worth approximately $52,000. Sterling Capital Management LLC increased its holdings in Verint Systems by 808.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company's stock worth $53,000 after purchasing an additional 1,713 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Verint Systems by 45.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company's stock worth $54,000 after purchasing an additional 613 shares in the last quarter. 94.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VRNT. Evercore ISI cut their target price on Verint Systems from $34.00 to $23.00 and set an "in-line" rating on the stock in a research note on Thursday, March 27th. Cowen restated a "buy" rating on shares of Verint Systems in a research note on Wednesday, June 4th. Wedbush restated an "outperform" rating and issued a $30.00 target price on shares of Verint Systems in a research note on Wednesday, June 4th. Royal Bank Of Canada cut their target price on Verint Systems from $36.00 to $29.00 and set an "outperform" rating on the stock in a research note on Thursday, March 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $30.00 target price on shares of Verint Systems in a research note on Thursday, June 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $30.33.

Insider Activity at Verint Systems

In other Verint Systems news, insider Peter Fante sold 9,439 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $16.50, for a total transaction of $155,743.50. Following the sale, the insider now owns 20,450 shares in the company, valued at $337,425. This represents a 31.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen J. Gold sold 2,744 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $16.07, for a total value of $44,096.08. Following the sale, the director now owns 28,473 shares in the company, valued at approximately $457,561.11. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Verint Systems Trading Up 1.5%

Verint Systems stock opened at $16.67 on Monday. Verint Systems Inc. has a 12 month low of $14.15 and a 12 month high of $37.31. The business's 50 day simple moving average is $17.53 and its 200 day simple moving average is $21.70. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 0.67 and a beta of 1.41.

Verint Systems (NASDAQ:VRNT - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.29 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $194.61 million. During the same quarter in the previous year, the company posted $0.59 EPS. Verint Systems's revenue for the quarter was down 6.0% on a year-over-year basis. As a group, equities research analysts forecast that Verint Systems Inc. will post 1.92 earnings per share for the current fiscal 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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