Panagora Asset Management Inc. Has $2.16 Million Stake in Verint Systems Inc. $VRNT

Key Points

• Panagora Asset Management Inc. significantly increased its holdings in Verint Systems by 910.5% during the first quarter, owning 120,759 shares worth approximately $2.16 million.
• Verint Systems reported earnings of $0.33 per share, exceeding expectations, but experienced a year-over-year revenue decline of 1.0%.
• Analysts have downgraded the stock ratings, with the average rating now a Hold and a consensus price target of $27.71.

Panagora Asset Management Inc. grew its stake in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 910.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,759 shares of the technology company's stock after acquiring an additional 108,808 shares during the period. Panagora Asset Management Inc. owned 0.19% of Verint Systems worth $2,156,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of VRNT. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Verint Systems in the first quarter worth $40,000. 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 worth $61,000 after purchasing an additional 3,379 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in Verint Systems in the first quarter worth $94,000. GAMMA Investing LLC boosted its holdings in Verint Systems by 916.9% in the first 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 in the last quarter. Finally, State of Wyoming boosted its holdings in Verint Systems by 7.4% in the first quarter. State of Wyoming now owns 9,384 shares of the technology company's stock worth $168,000 after purchasing an additional 646 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors.

Verint Systems Stock Performance

Shares of NASDAQ VRNT remained flat at $20.36 during mid-day trading on Friday. 1,487,316 shares of the stock traded hands, compared to its average volume of 2,637,330. The firm has a market cap of $1.23 billion, a P/E ratio of 28.68, a P/E/G ratio of 0.89 and a beta of 1.47. The firm's fifty day moving average price is $20.67 and its two-hundred day moving average price is $19.38. Verint Systems Inc. has a 12 month low of $14.15 and a 12 month high of $34.80.

Verint Systems (NASDAQ:VRNT - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $200.43 million. Verint Systems had a net margin of 6.87% and a return on equity of 11.06%. The company's revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. Analysts forecast that Verint Systems Inc. will post 1.92 EPS for the current year.

Analysts Set New Price Targets

VRNT has been the subject of a number of recent analyst reports. Rosenblatt Securities cut shares of Verint Systems from a "buy" rating to a "hold" rating and decreased their price target for the company from $40.00 to $20.50 in a report on Monday, August 25th. Royal Bank Of Canada restated a "sector perform" rating and set a $20.50 price target (down from $29.00) on shares of Verint Systems in a report on Tuesday, August 26th. TD Cowen cut shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Wedbush cut shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, Cowen reaffirmed a "buy" rating on shares of Verint Systems in a research report on Wednesday, June 4th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price 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.