Philosophy Capital Management LLC Invests $10.17 Million in Verint Systems Inc. $VRNT

Key Points

• Philosophy Capital Management LLC acquired 569,623 shares of Verint Systems Inc. in Q1, valued at approximately $10.2 million, making it the 25th largest position in their portfolio.
• The stock has seen significant changes from institutional investors, with a notable 54.6% increase in stake from Allspring Global Investments during the same period.
• Verint Systems reported earnings of $0.33 per share, exceeding analysts' expectations but showing a 1.0% decrease in revenue compared to last year.

Philosophy Capital Management LLC purchased a new stake in Verint Systems Inc. (NASDAQ:VRNT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 569,623 shares of the technology company's stock, valued at approximately $10,168,000. Verint Systems accounts for about 0.7% of Philosophy Capital Management LLC's holdings, making the stock its 25th biggest position. Philosophy Capital Management LLC owned 0.92% of Verint Systems as of its most recent SEC filing.

Several other large investors have also made changes to their positions in VRNT. Clark Capital Management Group Inc. grew its holdings in Verint Systems by 0.4% during the 4th quarter. Clark Capital Management Group Inc. now owns 142,398 shares of the technology company's stock worth $3,909,000 after acquiring an additional 515 shares during the last quarter. State of Wyoming grew its holdings in Verint Systems by 7.4% during the 1st quarter. State of Wyoming now owns 9,384 shares of the technology company's stock worth $168,000 after acquiring an additional 646 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Verint Systems during the 1st quarter worth about $40,000. EP Wealth Advisors LLC grew its holdings in Verint Systems by 34.0% during the 1st quarter. EP Wealth Advisors LLC now owns 10,944 shares of the technology company's stock worth $195,000 after acquiring an additional 2,776 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Verint Systems by 6.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 53,966 shares of the technology company's stock worth $963,000 after acquiring an additional 3,174 shares during the last quarter. Institutional investors own 94.95% of the company's stock.

Verint Systems Stock Performance

VRNT stock traded up $0.03 during mid-day trading on Thursday, hitting $20.36. 270,937 shares of the company were exchanged, compared to its average volume of 1,302,381. The firm has a market cap of $1.23 billion, a P/E ratio of 28.67, 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 earnings results 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 firm had revenue of $165.52 million for 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 business's quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. On average, equities research analysts predict that Verint Systems Inc. will post 1.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on VRNT. Cowen reissued a "buy" rating on shares of Verint Systems in a report on Wednesday, June 4th. Needham & Company LLC lowered shares of Verint Systems from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Royal Bank Of Canada reissued a "sector perform" rating and set a $20.50 price objective (down previously from $29.00) on shares of Verint Systems in a report on Tuesday, August 26th. Wedbush lowered shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, TD Cowen lowered shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Verint Systems currently has an average rating of "Hold" and a consensus price target of $26.33.

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.