UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Position in Verint Systems Inc. $VRNT

Key Points

• UBS Asset Management increased its stake in Verint Systems by 148.3%, owning 2,175,147 shares valued at approximately $38.8 million.
• Several institutional investors have also significantly altered their positions in Verint Systems, contributing to 94.95% of the stock being owned by such entities.
• Analyst ratings for Verint Systems have been largely downgraded, with a consensus rating of "Hold" and a price target reduced to $26.33.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 148.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,175,147 shares of the technology company's stock after acquiring an additional 1,299,085 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 3.61% of Verint Systems worth $38,826,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Caxton Associates LLP acquired a new position in shares of Verint Systems in the 1st quarter valued at $479,000. Goldman Sachs Group Inc. raised its holdings in Verint Systems by 6.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,589,770 shares of the technology company's stock worth $28,377,000 after purchasing an additional 93,118 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Verint Systems during the first quarter worth $572,000. Philosophy Capital Management LLC purchased a new position in Verint Systems during the first quarter worth $10,168,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Verint Systems by 73.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 422,128 shares of the technology company's stock valued at $7,535,000 after purchasing an additional 178,499 shares during the period. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wedbush cut Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Royal Bank Of Canada restated a "sector perform" rating and set a $20.50 price objective (down previously from $29.00) on shares of Verint Systems in a research note on Tuesday, August 26th. Rosenblatt Securities cut Verint Systems from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $40.00 to $20.50 in a research note on Monday, August 25th. TD Cowen cut Verint Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Cowen reiterated a "buy" rating on shares of Verint Systems in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Verint Systems presently has a consensus rating of "Hold" and a consensus target price of $26.33.

Verint Systems Stock Down 0.0%

NASDAQ VRNT traded down $0.01 on Friday, reaching $20.28. 1,924,622 shares of the stock traded hands, compared to its average volume of 3,213,350. The firm's fifty day simple moving average is $20.54 and its 200 day simple moving average is $19.19. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 0.89 and a beta of 1.47. Verint Systems Inc. has a 12 month low of $14.15 and a 12 month high of $34.80.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released 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. The business had revenue of $165.52 million during the quarter, compared to analyst estimates of $200.43 million. Verint Systems had a return on equity of 11.06% and a net margin of 6.87%.The company's revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.49 EPS. As a group, equities 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.