Millennium Management LLC Purchases 197,893 Shares of Verint Systems Inc. (NASDAQ:VRNT)

Millennium Management LLC boosted its holdings in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 62.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 516,438 shares of the technology company's stock after acquiring an additional 197,893 shares during the quarter. Millennium Management LLC owned 0.83% of Verint Systems worth $14,176,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Verint Systems in the 4th quarter valued at about $5,276,000. KLP Kapitalforvaltning AS acquired a new stake in Verint Systems in the 4th quarter valued at about $321,000. Fort Washington Investment Advisors Inc. OH increased its position in Verint Systems by 32.4% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 775,869 shares of the technology company's stock valued at $21,298,000 after acquiring an additional 189,860 shares in the last quarter. Northern Trust Corp increased its position in Verint Systems by 1.5% in the 4th quarter. Northern Trust Corp now owns 639,234 shares of the technology company's stock valued at $17,547,000 after acquiring an additional 9,361 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Verint Systems in the 4th quarter valued at about $1,484,000. Institutional investors and hedge funds own 94.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Evercore ISI dropped 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. Wedbush decreased their target price on shares of Verint Systems from $38.00 to $30.00 and set an "outperform" rating for the company in a research note on Friday, March 28th. Royal Bank of Canada reduced their price objective on shares of Verint Systems from $36.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, March 27th. Wall Street Zen cut shares of Verint Systems from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $30.00 target price on shares of Verint Systems in a research report on Friday, April 25th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $30.33.

Insider Activity

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

Verint Systems Price Performance

VRNT traded up $0.11 on Wednesday, hitting $17.25. 51,460 shares of the stock were exchanged, compared to its average volume of 798,134. Verint Systems Inc. has a 12 month low of $14.15 and a 12 month high of $38.17. The business has a 50-day moving average of $17.44 and a two-hundred day moving average of $22.60. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.97 and a beta of 1.45.

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

Verint Systems 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.