Victory Capital Management Inc. Sells 1,211,317 Shares of Verint Systems Inc. (NASDAQ:VRNT)

Victory Capital Management Inc. cut its stake in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,897,741 shares of the technology company's stock after selling 1,211,317 shares during the quarter. Victory Capital Management Inc. owned 3.05% of Verint Systems worth $33,875,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Verint Systems by 54.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 173,476 shares of the technology company's stock valued at $3,093,000 after purchasing an additional 61,284 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in 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 worth $1,567,000 after buying an additional 6,007 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Verint Systems by 14.8% in 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Verint Systems in the fourth quarter valued at approximately $5,276,000. Finally, Parallel Advisors LLC raised its holdings in Verint Systems by 14,079.2% during the 1st 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 during the last quarter. 94.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VRNT has been the subject of several research reports. Wall Street Zen downgraded shares of Verint Systems from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Cowen reaffirmed a "buy" rating on shares of Verint Systems in a report on Wednesday, June 4th. Needham & Company LLC reissued a "buy" rating and issued a $30.00 target price on shares of Verint Systems in a research report on Thursday, June 5th. Rosenblatt Securities began coverage on shares of Verint Systems in a report on Friday, July 18th. They issued a "buy" rating and a $40.00 target price on the stock. Finally, Wedbush restated an "outperform" rating and set a $30.00 price objective on shares of Verint Systems in a research report on Wednesday, June 4th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.71.

Verint Systems Trading Down 0.5%

Shares of VRNT traded down $0.11 during midday trading on Thursday, reaching $22.13. The stock had a trading volume of 650,277 shares, compared to its average volume of 2,413,856. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The company's 50-day moving average is $18.99 and its 200 day moving average is $20.50. Verint Systems Inc. has a 12-month low of $14.15 and a 12-month high of $37.31.

Verint Systems (NASDAQ:VRNT - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.12). The business had revenue of $173.62 million for the quarter, compared to analysts' expectations of $194.61 million. Verint Systems had a net margin of 7.66% and a return on equity of 12.35%. The firm's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. Research analysts forecast that Verint Systems Inc. will post 1.92 EPS for the current fiscal year.

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.