Wedge Capital Management L L P NC Trims Stock Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Wedge Capital Management L L P NC cut its position in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 39.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,681 shares of the technology company's stock after selling 41,875 shares during the period. Wedge Capital Management L L P NC owned approximately 0.10% of Verint Systems worth $1,155,000 as of its most recent SEC filing.

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

Insider Activity at Verint Systems

In related news, Director Stephen J. Gold sold 2,744 shares of Verint Systems stock in a transaction that occurred 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 completion of the transaction, the director now owns 28,473 shares in the company, valued at approximately $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 is accessible through this hyperlink. Also, insider Peter Fante sold 9,439 shares of the business's 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 completion of the transaction, the insider now owns 20,450 shares of the company's stock, valued at approximately $337,425. This trade represents a 31.58% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Verint Systems Trading Down 6.3%

Shares of VRNT stock traded down $1.15 during trading on Friday, hitting $17.17. 918,856 shares of the stock traded hands, compared to its average volume of 822,151. Verint Systems Inc. has a 52-week low of $14.15 and a 52-week high of $37.31. The firm has a market capitalization of $1.03 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 0.97 and a beta of 1.41. The firm's fifty day moving average price is $17.36 and its 200-day moving average price is $22.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.29 earnings per share 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 return on equity of 15.79% and a net margin of 8.49%. The business's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. As a group, research analysts forecast that Verint Systems Inc. will post 1.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada decreased their price objective on Verint Systems from $36.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price target on shares of Verint Systems in a research note on Thursday, June 5th. Evercore ISI reduced their target price on shares of Verint Systems from $34.00 to $23.00 and set an "in-line" rating for the company in a report on Thursday, March 27th. Wall Street Zen cut shares of Verint Systems from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Finally, Wedbush reiterated an "outperform" rating and set a $30.00 price target on shares of Verint Systems in a research report on Wednesday, June 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.33.

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.