Kingstone Capital Partners Texas LLC Takes $3.31 Million Position in Verint Systems Inc. $VRNT

Key Points

• Kingstone Capital Partners Texas LLC acquired a new stake in Verint Systems Inc., purchasing 168,150 shares worth approximately $3.3 million, representing a 0.28% ownership in the company.
• Multiple brokerages recently downgraded Verint Systems' stock ratings, with Needham & Company and TD Cowen both lowering from "buy" to "hold," resulting in a consensus rating of "Hold" and a target price of $26.33.
• Verint Systems reported earnings of $0.33 per share for the last quarter, surpassing estimates, but its revenue of $165.52 million fell short of expectations, indicating a 1% year-over-year decline.

Kingstone Capital Partners Texas LLC bought a new position in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 168,150 shares of the technology company's stock, valued at approximately $3,308,000. Kingstone Capital Partners Texas LLC owned approximately 0.28% of Verint Systems as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State of Wyoming lifted its stake in Verint Systems by 7.4% during the 1st quarter. State of Wyoming now owns 9,384 shares of the technology company's stock worth $168,000 after acquiring an additional 646 shares in the last quarter. Strs Ohio acquired a new stake in Verint Systems during the 1st quarter worth $29,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Verint Systems by 14.0% in the second quarter. Harbor Capital Advisors Inc. now owns 16,536 shares of the technology company's stock valued at $325,000 after acquiring an additional 2,031 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Verint Systems during the first quarter worth about $40,000. Finally, EP Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 2,776 shares during the period. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Verint Systems Stock Up 0.0%

NASDAQ:VRNT traded up $0.01 during trading hours on Monday, hitting $20.29. 1,083,045 shares of the stock were exchanged, compared to its average volume of 3,238,375. The company's 50 day moving average is $20.55 and its two-hundred day moving average is $19.14. The company has a market capitalization of $1.22 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.47. Verint Systems Inc. has a twelve month low of $14.15 and a twelve month high of $34.80.

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

Analyst Upgrades and Downgrades

VRNT has been the topic of several recent research reports. Cowen reaffirmed a "buy" rating on shares of Verint Systems in a report on Wednesday, June 4th. Royal Bank Of Canada restated a "sector perform" rating and set a $20.50 price objective (down previously from $29.00) on shares of Verint Systems in a research note on Tuesday, August 26th. Needham & Company LLC downgraded Verint Systems from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. TD Cowen cut Verint Systems from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. Finally, Rosenblatt Securities lowered shares of Verint Systems from a "buy" rating to a "hold" rating and reduced their price objective for the company from $40.00 to $20.50 in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average 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.