Verint Systems Inc. $VRNT Holdings Trimmed by Comerica Bank

Key Points

• Comerica Bank reduced its stake in Verint Systems Inc. by 43.7% during the first quarter, owning approximately 35,503 shares valued at $634,000 after the sale.
• Despite a beat on earnings per share with $0.33 reported, Verint's revenue for the quarter was down 1.0% year-over-year, totaling $165.52 million.
• Several hedge funds have increased their positions in Verint, with 94.95% of the stock currently owned by institutional investors as of this quarter.

Comerica Bank lowered its holdings in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 43.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,503 shares of the technology company's stock after selling 27,503 shares during the period. Comerica Bank owned about 0.06% of Verint Systems worth $634,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Verint Systems by 54.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 173,476 shares of the technology company's stock worth $3,093,000 after acquiring an additional 61,284 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Verint Systems by 7.3% during the first quarter. Asset Management One Co. Ltd. now owns 87,780 shares of the technology company's stock worth $1,567,000 after buying an additional 6,007 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Verint Systems by 14.8% during the first quarter. Teacher Retirement System of Texas now owns 46,735 shares of the technology company's stock worth $834,000 after buying an additional 6,025 shares during the period. Parallel Advisors LLC grew its holdings in Verint Systems by 14,079.2% in the 1st 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, Northern Trust Corp grew its holdings in Verint Systems by 1.5% in the 4th quarter. Northern Trust Corp now owns 639,234 shares of the technology company's stock worth $17,547,000 after buying an additional 9,361 shares in the last quarter. Institutional investors own 94.95% of the company's stock.

Verint Systems Stock Performance

Shares of NASDAQ VRNT traded down $0.02 during trading on Friday, hitting $20.33. The company had a trading volume of 2,101,877 shares, compared to its average volume of 2,899,519. The company has a market cap of $1.23 billion, a P/E ratio of 28.63, a PEG ratio of 0.89 and a beta of 1.47. Verint Systems Inc. has a 52 week low of $14.15 and a 52 week high of $34.80. The business's 50-day moving average is $20.66 and its 200 day moving average is $19.27.

Verint Systems (NASDAQ:VRNT - Get Free Report) last posted its quarterly earnings results on Tuesday, September 2nd. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $165.52 million for the quarter, compared to analysts' expectations of $200.43 million. Verint Systems had a return on equity of 11.06% and a net margin of 6.87%.The firm's revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 earnings per share. On average, research analysts expect that Verint Systems Inc. will post 1.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on VRNT shares. TD Cowen lowered Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Needham & Company LLC lowered Verint Systems from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Royal Bank Of Canada reissued a "sector perform" rating and set a $20.50 target price (down previously from $29.00) on shares of Verint Systems in a report on Tuesday, August 26th. Wedbush cut Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Rosenblatt Securities cut Verint Systems from a "buy" rating to a "hold" rating and dropped their target price for the stock from $40.00 to $20.50 in a report on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $26.33.

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.