Invesco Ltd. Purchases 20,616 Shares of Verint Systems Inc. $VRNT

Key Points

• Invesco Ltd. increased its stake in Verint Systems Inc. by 21.0% in the first quarter, owning approximately 0.19% of the company, valued at $2.1 million.
• Several hedge funds have also increased their holdings in Verint Systems, with Vanguard Group holding the largest share of 7.8 million shares, valued at $139.6 million.
• Verint reported earnings per share of $0.29, missing estimates, and announced a decrease in revenue of 6% year-over-year, indicating potential challenges ahead for the company.

Invesco Ltd. boosted its holdings in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 21.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 118,963 shares of the technology company's stock after purchasing an additional 20,616 shares during the period. Invesco Ltd. owned about 0.19% of Verint Systems worth $2,123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in 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 worth $3,093,000 after acquiring an additional 61,284 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Verint Systems by 7.3% during the 1st quarter. Asset Management One Co. Ltd. now owns 87,780 shares of the technology company's stock valued at $1,567,000 after purchasing an additional 6,007 shares during the last quarter. Teacher Retirement System of Texas increased its position in Verint Systems by 14.8% during the 1st quarter. Teacher Retirement System of Texas now owns 46,735 shares of the technology company's stock worth $834,000 after purchasing an additional 6,025 shares in the last quarter. Parallel Advisors LLC lifted its stake in Verint Systems by 14,079.2% in the 1st quarter. Parallel Advisors LLC now owns 3,403 shares of the technology company's stock valued at $61,000 after purchasing an additional 3,379 shares during the last quarter. Finally, Northern Trust Corp lifted its stake 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 purchasing an additional 9,361 shares during the last quarter. Institutional investors own 94.95% of the company's stock.

Verint Systems Price Performance

Shares of VRNT traded up $0.03 during trading hours on Wednesday, hitting $20.39. 1,365,634 shares of the stock were exchanged, compared to its average volume of 1,262,802. Verint Systems Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $34.80. The business has a 50-day moving average of $20.57 and a 200-day moving average of $19.49. The firm has a market capitalization of $1.23 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 0.82 and a beta of 1.47.

Verint Systems (NASDAQ:VRNT - Get Free Report) last issued its quarterly earnings results on Tuesday, September 2nd. The technology company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Verint Systems had a net margin of 7.66% and a return on equity of 12.35%. The business had revenue of $165.52 million for the quarter, compared to analysts' expectations of $200.43 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The business's quarterly revenue was down 1.0% compared to the same quarter last year. As a group, analysts forecast that Verint Systems Inc. will post 1.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRNT has been the topic of a number of research reports. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $20.50 target price (down previously from $29.00) on shares of Verint Systems in a research note on Tuesday, August 26th. TD Cowen downgraded Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Rosenblatt Securities cut Verint Systems from a "buy" rating to a "hold" rating and lowered their target price for the stock from $40.00 to $20.50 in a report on Monday, August 25th. Wedbush downgraded Verint Systems from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Finally, Cowen restated a "buy" rating on shares of Verint Systems in a report on Wednesday, June 4th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $27.71.

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.