MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 178,499 Shares of Verint Systems Inc. $VRNT

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Verint Systems Inc. by 73.3%, acquiring 178,499 additional shares, bringing its total to 422,128 shares valued at approximately $7.5 million.
• Multiple institutional investors also boosted their positions in Verint Systems, with Allspring Global Investments increasing their stake by 54.6%.
• Analysts have adjusted their ratings on Verint Systems, with Cowen maintaining a "buy" rating, while others like Rosenblatt Securities downgraded it from "buy" to "hold", projecting a target price of $20.50.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 73.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 422,128 shares of the technology company's stock after acquiring an additional 178,499 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.68% of Verint Systems worth $7,535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position 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 valued at $3,093,000 after purchasing an additional 61,284 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Verint Systems by 7.3% in the first quarter. Asset Management One Co. Ltd. now owns 87,780 shares of the technology company's stock valued at $1,567,000 after acquiring an additional 6,007 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Verint Systems by 14.8% in the first quarter. Teacher Retirement System of Texas now owns 46,735 shares of the technology company's stock valued at $834,000 after acquiring an additional 6,025 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Verint Systems by 14,079.2% in the first quarter. Parallel Advisors LLC now owns 3,403 shares of the technology company's stock valued at $61,000 after acquiring an additional 3,379 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Verint Systems by 1.5% in the fourth quarter. Northern Trust Corp now owns 639,234 shares of the technology company's stock valued at $17,547,000 after acquiring an additional 9,361 shares during the last quarter. Institutional investors own 94.95% of the company's stock.

Analysts Set New Price Targets

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

Verint Systems Price Performance

Shares of VRNT opened at $20.33 on Thursday. The company has a market capitalization of $1.23 billion, a P/E ratio of 28.63, a P/E/G ratio of 0.89 and a beta of 1.47. The firm's 50 day simple moving average is $20.69 and its 200 day simple moving average is $19.32. 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 quarterly earnings data on Tuesday, September 2nd. The technology company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates 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%.Verint Systems's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.49 EPS. On average, equities analysts anticipate that Verint Systems Inc. will post 1.92 earnings per share for the current 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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