Federated Hermes Inc. Trims Stock Position in Verint Systems Inc. (NASDAQ:VRNT)

Key Points

• Federated Hermes Inc. significantly reduced its stake in Verint Systems Inc. by 60.3%, now owning 12,630 shares valued at $225,000.
• Verint Systems reported a missed earnings estimate with $0.29 EPS compared to an expected $0.41, alongside a 6.0% decline in revenue from the previous year.
• The stock has an average rating of "Moderate Buy" among analysts, with an average price target set at $31.71.

Federated Hermes Inc. decreased its stake in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 60.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,630 shares of the technology company's stock after selling 19,171 shares during the quarter. Federated Hermes Inc.'s holdings in Verint Systems were worth $225,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. 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 during the period. Canada Pension Plan Investment Board purchased a new stake in Verint Systems during the 4th quarter worth about $58,000. Johnson Financial Group Inc. purchased a new stake in Verint Systems during the 4th quarter worth about $62,000. Parallel Advisors LLC increased its holdings in Verint Systems by 14,079.2% during the 1st quarter. Parallel Advisors LLC now owns 3,403 shares of the technology company's stock worth $61,000 after purchasing an additional 3,379 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Verint Systems by 916.9% during the 1st quarter. GAMMA Investing LLC now owns 5,837 shares of the technology company's stock worth $104,000 after purchasing an additional 5,263 shares during the period. Hedge funds and other institutional investors own 94.95% of the company's stock.

Verint Systems Stock Performance

Shares of NASDAQ:VRNT traded down $1.04 on Monday, hitting $19.97. 910,630 shares of the company's stock were exchanged, compared to its average volume of 1,000,083. The firm's 50-day moving average is $19.91 and its 200 day moving average is $20.11. The company has a market capitalization of $1.20 billion, a PE ratio of 24.35, a P/E/G ratio of 0.84 and a beta of 1.46. Verint Systems Inc. has a 1-year low of $14.15 and a 1-year high of $34.80.

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

Analyst Ratings Changes

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

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.