Ameriprise Financial Inc. Has $2.86 Million Stock Position in Verint Systems Inc. (NASDAQ:VRNT)

Ameriprise Financial Inc. cut its stake in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 73.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,095 shares of the technology company's stock after selling 294,735 shares during the period. Ameriprise Financial Inc. owned 0.17% of Verint Systems worth $2,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Plato Investment Management Ltd acquired a new stake in Verint Systems in the fourth quarter worth about $43,000. Parkside Financial Bank & Trust bought a new position in shares of Verint Systems in the 4th quarter valued at about $52,000. Headlands Technologies LLC acquired a new stake in shares of Verint Systems during the 4th quarter worth approximately $52,000. Sterling Capital Management LLC grew its position in shares of Verint Systems by 808.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company's stock worth $53,000 after buying an additional 1,713 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Verint Systems by 45.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company's stock worth $54,000 after buying an additional 613 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Verint Systems Stock Down 1.5%

Shares of VRNT stock traded down $0.27 during trading hours on Friday, hitting $17.61. 1,026,623 shares of the company were exchanged, compared to its average volume of 808,962. Verint Systems Inc. has a 52 week low of $14.15 and a 52 week high of $38.17. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $17.19 and a two-hundred day moving average of $22.46. The company has a market capitalization of $1.06 billion, a PE ratio of 18.73, a PEG ratio of 0.97 and a beta of 1.45.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.28). Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The firm had revenue of $253.50 million for the quarter, compared to the consensus estimate of $276.82 million. During the same quarter last year, the company posted $1.07 EPS. Verint Systems's revenue for the quarter was down 4.4% on a year-over-year basis. Analysts anticipate that Verint Systems Inc. will post 1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Stephen J. Gold sold 2,744 shares of the business's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $16.07, for a total value of $44,096.08. Following the sale, the director now owns 28,473 shares of the company's stock, valued at $457,561.11. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Peter Fante sold 9,439 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $16.50, for a total transaction of $155,743.50. Following the transaction, the insider now owns 20,450 shares of the company's stock, valued at $337,425. The trade was a 31.58% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on VRNT. Royal Bank of Canada reduced their price objective on shares of Verint Systems from $36.00 to $29.00 and set an "outperform" rating on the stock in a research note on Thursday, March 27th. Wedbush reduced their price target on Verint Systems from $38.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, March 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 price objective on shares of Verint Systems in a research note on Friday, April 25th. Wall Street Zen lowered Verint Systems from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Evercore ISI cut their target price on shares of Verint Systems from $34.00 to $23.00 and set an "in-line" rating on the stock in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.33.

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.