Advisor Resource Council Acquires Shares of 22,937 Verint Systems Inc. (NASDAQ:VRNT)

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

A number of other hedge funds have also modified their holdings of the company. Plato Investment Management Ltd bought a new position in Verint Systems during the fourth quarter worth about $43,000. Parkside Financial Bank & Trust acquired a new stake in shares of Verint Systems during the fourth quarter worth about $52,000. Headlands Technologies LLC bought a new position in shares of Verint Systems during the 4th quarter valued at about $52,000. Sterling Capital Management LLC lifted its holdings in shares of Verint Systems by 808.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company's stock valued at $53,000 after purchasing an additional 1,713 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Verint Systems by 45.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company's stock valued at $54,000 after purchasing an additional 613 shares during the period. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Verint Systems Price Performance

NASDAQ:VRNT traded up $1.30 on Thursday, hitting $19.39. 3,782,143 shares of the company's stock were exchanged, compared to its average volume of 860,694. The firm has a 50-day moving average price of $17.68 and a 200-day moving average price of $21.48. Verint Systems Inc. has a 52 week low of $14.15 and a 52 week high of $37.31. The company has a market cap of $1.17 billion, a P/E ratio of 23.65, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41.

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

Analysts Set New Price Targets

VRNT has been the topic of a number of research reports. Evercore ISI cut their price target on shares of 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. Royal Bank Of Canada dropped their price objective on shares of Verint Systems from $36.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday, March 27th. Cowen reaffirmed a "buy" rating on shares of Verint Systems in a research note on Wednesday, June 4th. Wedbush reiterated an "outperform" rating and set a $30.00 target price on shares of Verint Systems in a report on Wednesday, June 4th. Finally, Needham & Company LLC restated a "buy" rating and issued a $30.00 price target on shares of Verint Systems in a report on Thursday, June 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.33.

Insider Activity

In other news, insider Peter Fante sold 9,439 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $16.50, for a total transaction of $155,743.50. Following the transaction, the insider now directly owns 20,450 shares in the company, valued at $337,425. The trade was a 31.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen J. Gold sold 2,744 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $16.07, for a total transaction of $44,096.08. Following the completion of the sale, the director now directly owns 28,473 shares in the company, valued at approximately $457,561.11. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Verint Systems 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.