Bastion Asset Management Inc. Sells 80,218 Shares of Verint Systems Inc. (NASDAQ:VRNT)

Key Points

• Bastion Asset Management Inc. significantly reduced its stake in Verint Systems by 55.6%, selling 80,218 shares and retaining approximately 0.10% ownership of the company.
• Verint Systems recently reported earnings of $0.29 per share, falling short of the expected $0.41, with a revenue decline of 6.0% year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Verint Systems, with the average price target set at $31.71.

Bastion Asset Management Inc. lessened its holdings in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 55.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,116 shares of the technology company's stock after selling 80,218 shares during the period. Bastion Asset Management Inc. owned about 0.10% of Verint Systems worth $1,260,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in VRNT. Headlands Technologies LLC bought a new stake in Verint Systems during the fourth quarter valued at about $52,000. Sterling Capital Management LLC increased its position in Verint Systems by 808.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company's stock worth $53,000 after buying an additional 1,713 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Verint Systems in the fourth quarter worth about $58,000. Parallel Advisors LLC increased its position in Verint Systems by 14,079.2% in the first quarter. Parallel Advisors LLC now owns 3,403 shares of the technology company's stock worth $61,000 after buying an additional 3,379 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in Verint Systems in the fourth quarter worth about $62,000. Institutional investors own 94.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VRNT. Rosenblatt Securities began coverage on shares of Verint Systems in a research report on Friday, July 18th. They issued a "buy" rating and a $40.00 price target for the company. Cowen reiterated a "buy" rating on shares of Verint Systems in a research report on Wednesday, June 4th. 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, Needham & Company LLC restated a "buy" rating and issued a $30.00 price objective on shares of Verint Systems in a research report on Thursday, June 5th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.71.

Verint Systems Trading Down 1.2%

Shares of VRNT stock opened at $21.86 on Friday. Verint Systems Inc. has a 12-month low of $14.15 and a 12-month high of $37.31. The stock's 50-day moving average price is $19.06 and its 200-day moving average price is $20.47. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43.

Verint Systems (NASDAQ:VRNT - Get Free Report) last issued 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). Verint Systems had a return on equity of 12.35% and a net margin of 7.66%. The firm had revenue of $173.62 million during the quarter, compared to the consensus estimate of $194.61 million. During the same period last year, the firm posted $0.59 earnings per share. The company's revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, research analysts predict that Verint Systems Inc. will post 1.92 EPS for the current fiscal 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.

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