Verint Systems Inc. $VRNT Stake Boosted by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in Verint Systems by 113.7% in Q1, owning approximately 0.24% of the company, valued at $2.68 million.
• Brokerages have reduced ratings for Verint Systems, with TD Cowen and Wedbush downgrading their ratings from "strong-buy" to "hold" and target prices dropping significantly.
• Verint Systems reported earnings of $0.33 per share, beating estimates but showing a revenue decline of 1.0% year-over-year to $165.52 million.

Trexquant Investment LP lifted its stake in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 113.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,298 shares of the technology company's stock after acquiring an additional 79,953 shares during the quarter. Trexquant Investment LP owned about 0.24% of Verint Systems worth $2,683,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Verint Systems by 54.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 173,476 shares of the technology company's stock valued at $3,093,000 after acquiring an additional 61,284 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of 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 valued at $1,567,000 after acquiring an additional 6,007 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Verint Systems by 14.8% during the first quarter. Teacher Retirement System of Texas now owns 46,735 shares of the technology company's stock valued at $834,000 after acquiring an additional 6,025 shares during the period. Parallel Advisors LLC increased its stake in shares of Verint Systems by 14,079.2% during the first quarter. Parallel Advisors LLC now owns 3,403 shares of the technology company's stock valued at $61,000 after acquiring an additional 3,379 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Verint Systems by 1.5% during the fourth 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 during the period. Institutional investors and hedge funds own 94.95% of the company's stock.

Verint Systems Price Performance

NASDAQ VRNT traded down $0.02 on Tuesday, hitting $20.33. 344,252 shares of the stock were exchanged, compared to its average volume of 1,298,093. Verint Systems Inc. has a 52-week low of $14.15 and a 52-week high of $34.80. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 0.89 and a beta of 1.47. The company's 50-day moving average price is $20.68 and its two-hundred day moving average price is $19.31.

Verint Systems (NASDAQ:VRNT - Get Free Report) last posted its quarterly earnings data on Tuesday, September 2nd. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Verint Systems had a net margin of 6.87% and a return on equity of 11.06%. The firm had revenue of $165.52 million for the quarter, compared to analysts' expectations of $200.43 million. During the same period in the previous year, the company posted $0.49 EPS. The company's quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts predict that Verint Systems Inc. will post 1.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TD Cowen lowered shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Wedbush lowered shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Cowen restated a "buy" rating on shares of Verint Systems in a research report on Wednesday, June 4th. Rosenblatt Securities lowered shares of Verint Systems from a "buy" rating to a "hold" rating and decreased their price target for the stock from $40.00 to $20.50 in a research report on Monday, August 25th. Finally, Needham & Company LLC lowered shares of Verint Systems from a "buy" rating to a "hold" rating in a research report on Monday, August 25th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average 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.