16,982 Shares in Verint Systems Inc. $VRNT Acquired by Perbak Capital Partners LLP

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 acquired a new position in Verint Systems Inc. (NASDAQ:VRNT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 16,982 shares of the technology company's stock, valued at approximately $303,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Verint Systems by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 7,819,401 shares of the technology company's stock worth $139,576,000 after buying an additional 55,918 shares in the last quarter. Global Alpha Capital Management Ltd. raised its stake in Verint Systems by 1.9% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 1,750,603 shares of the technology company's stock valued at $31,248,000 after purchasing an additional 32,900 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Verint Systems by 0.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,267,351 shares of the technology company's stock valued at $22,622,000 after purchasing an additional 3,849 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in Verint Systems by 8.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 840,389 shares of the technology company's stock valued at $15,001,000 after purchasing an additional 64,520 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Verint Systems by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 760,107 shares of the technology company's stock valued at $13,568,000 after purchasing an additional 54,880 shares during the last quarter. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. TD Cowen downgraded shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Cowen reissued a "buy" rating on shares of Verint Systems in a research note on Wednesday, June 4th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $20.50 target price (down previously from $29.00) on shares of Verint Systems in a research note on Tuesday, August 26th. Rosenblatt Securities downgraded shares of 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 note on Monday, August 25th. Finally, Wedbush downgraded shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. One equities research 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.com, Verint Systems has an average rating of "Hold" and an average price target of $26.33.

Verint Systems Stock Performance

VRNT traded down $0.02 on Monday, reaching $20.35. 1,193,912 shares of the company's stock were exchanged, compared to its average volume of 1,283,228. The company's 50 day moving average is $20.67 and its 200-day moving average is $19.33. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 28.66, 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.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $165.52 million during the quarter, compared to the consensus estimate 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 in the prior year, the company earned $0.49 EPS. Sell-side analysts forecast that Verint Systems Inc. will post 1.92 EPS 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.