Verint Systems Inc. $VRNT Stake Boosted by Invenomic Capital Management LP

Key Points

• Invenomic Capital Management LP boosted its holdings in Verint Systems by 116.5%, owning over 1.15 million shares after acquiring an additional 621,707 shares.
• Verint Systems was downgraded by several research firms, including Needham & Company and Wedbush, lowering the stock's rating from "buy" or "strong-buy" to "hold."
• Despite a quarterly earnings beat with $0.33 EPS, Verint reported a revenue decline to $165.52 million, below the analysts' expectations of $200.43 million.

Invenomic Capital Management LP grew its position in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 116.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,155,532 shares of the technology company's stock after acquiring an additional 621,707 shares during the quarter. Verint Systems comprises 1.0% of Invenomic Capital Management LP's portfolio, making the stock its 25th biggest position. Invenomic Capital Management LP owned about 1.86% of Verint Systems worth $20,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clark Capital Management Group Inc. increased its stake in Verint Systems by 0.4% during the fourth quarter. Clark Capital Management Group Inc. now owns 142,398 shares of the technology company's stock worth $3,909,000 after acquiring an additional 515 shares during the last quarter. State of Wyoming increased its stake in Verint Systems by 7.4% during the first quarter. State of Wyoming now owns 9,384 shares of the technology company's stock worth $168,000 after acquiring an additional 646 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Verint Systems during the first quarter worth about $40,000. EP Wealth Advisors LLC increased its stake in Verint Systems by 34.0% during the first quarter. EP Wealth Advisors LLC now owns 10,944 shares of the technology company's stock worth $195,000 after acquiring an additional 2,776 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Verint Systems by 6.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 53,966 shares of the technology company's stock worth $963,000 after acquiring an additional 3,174 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on VRNT shares. TD Cowen lowered Verint Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Rosenblatt Securities lowered Verint Systems from a "buy" rating to a "hold" rating and lowered their target price for the company from $40.00 to $20.50 in a research note on Monday, August 25th. Cowen reissued a "buy" rating on shares of Verint Systems in a research report on Wednesday, June 4th. Wedbush lowered Verint Systems from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $20.50 price target (down from $29.00) on shares of Verint Systems in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $26.33.

Verint Systems Price Performance

Shares of VRNT stock traded up $0.02 on Wednesday, hitting $20.35. 476,204 shares of the stock traded hands, compared to its average volume of 1,303,274. The company has a market capitalization of $1.23 billion, a PE ratio of 28.66, a PEG ratio of 0.89 and a beta of 1.47. Verint Systems Inc. has a 1-year low of $14.15 and a 1-year high of $34.80. The company's fifty day moving average is $20.71 and its 200 day moving average is $19.31.

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 business had revenue of $165.52 million for the quarter, compared to analyst estimates of $200.43 million. Verint Systems had a return on equity of 11.06% and a net margin of 6.87%.The business's revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. As a group, equities research analysts expect that Verint Systems Inc. will post 1.92 EPS for the current year.

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.