Perbak Capital Partners LLP Takes $303,000 Position in Verint Systems Inc. $VRNT

Key Points

• Perbak Capital Partners LLP has made a new investment of approximately $303,000 in Verint Systems Inc. by acquiring 16,982 shares during the 1st quarter of the year.
• Analysts have downgraded Verint Systems from "buy" to "hold," leading to a consensus rating of "Hold" with a target price of $27.71.
• Despite a decrease in quarterly revenue by 1.0%, Verint reported earnings of $0.33 per share, exceeding expectations of $0.26.

Perbak Capital Partners LLP purchased a new position in Verint Systems Inc. (NASDAQ:VRNT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,982 shares of the technology company's stock, valued at approximately $303,000.

A number of other large investors have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of Verint Systems by 54.6% during 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 buying an additional 61,284 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Verint Systems by 7.3% during 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 buying an additional 6,007 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Verint Systems by 14.8% during the first quarter. Teacher Retirement System of Texas now owns 46,735 shares of the technology company's stock valued at $834,000 after buying an additional 6,025 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Verint Systems by 14,079.2% during the first quarter. Parallel Advisors LLC now owns 3,403 shares of the technology company's stock valued at $61,000 after buying an additional 3,379 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Verint Systems by 1.5% during the fourth quarter. Northern Trust Corp now owns 639,234 shares of the technology company's stock valued at $17,547,000 after buying an additional 9,361 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Verint Systems Stock Performance

VRNT stock remained flat at $20.36 during mid-day trading on Friday. 1,487,316 shares of the company's stock traded hands, compared to its average volume of 2,637,330. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 28.68, a PEG 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. The firm's 50 day moving average is $20.67 and its two-hundred day moving average is $19.42.

Verint Systems (NASDAQ:VRNT - Get Free Report) last announced its quarterly earnings data on Tuesday, September 2nd. The technology company reported $0.33 EPS for the quarter, topping 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 net margin of 6.87% and a return on equity of 11.06%. The company's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. As a group, sell-side analysts forecast that Verint Systems Inc. will post 1.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VRNT. Wedbush cut shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. 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. Cowen restated a "buy" rating on shares of Verint Systems in a report on Wednesday, June 4th. Rosenblatt Securities cut shares of Verint Systems from a "buy" rating to a "hold" rating and cut their price target for the stock from $40.00 to $20.50 in a report on Monday, August 25th. Finally, TD Cowen cut shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.33.

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.