Kingstone Capital Partners Texas LLC Makes New Investment 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 stake in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 168,150 shares of the technology company's stock, valued at approximately $3,308,000. Kingstone Capital Partners Texas LLC owned 0.28% of Verint Systems as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Strs Ohio acquired a new stake in Verint Systems in the first quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Verint Systems in the 1st quarter valued at $40,000. Parallel Advisors LLC increased 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 acquiring an additional 3,379 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in Verint Systems during the first quarter valued at $94,000. Finally, GAMMA Investing LLC grew its position in shares of Verint Systems by 916.9% in the first quarter. GAMMA Investing LLC now owns 5,837 shares of the technology company's stock valued at $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.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VRNT. Needham & Company LLC lowered shares of Verint Systems from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. Royal Bank Of Canada reaffirmed 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. Cowen reissued a "buy" rating on shares of Verint Systems in a research note on Wednesday, June 4th. TD Cowen lowered shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. Finally, Wedbush downgraded shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Verint Systems has a consensus rating of "Hold" and a consensus price target of $26.33.

Verint Systems Stock Performance

NASDAQ VRNT opened at $20.28 on Monday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 0.89 and a beta of 1.47. The firm has a 50 day simple moving average of $20.54 and a 200-day simple moving average of $19.15. Verint Systems Inc. has a one year low of $14.15 and a one year high of $34.80.

Verint Systems (NASDAQ:VRNT - Get Free Report) last issued its quarterly 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. The company had revenue of $165.52 million for the quarter, compared to the consensus estimate of $200.43 million. Verint Systems had a return on equity of 11.06% and a net margin of 6.87%.Verint Systems's revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 EPS. Equities 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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