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

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position 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 valued at $3,093,000 after buying an additional 61,284 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Verint Systems by 7.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 87,780 shares of the technology company's stock worth $1,567,000 after purchasing an additional 6,007 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Verint Systems by 14.8% in 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 during the last quarter. Parallel Advisors LLC increased its holdings 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 worth $61,000 after buying an additional 3,379 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Verint Systems by 9,634.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 14,505 shares of the technology company's stock worth $259,000 after buying an additional 14,356 shares in the last quarter. Institutional investors own 94.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Cowen reiterated a "buy" rating on shares of Verint Systems in a research note on Wednesday, June 4th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $20.50 price target (down from $29.00) on shares of Verint Systems in a report on Tuesday, August 26th. Wedbush cut Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Needham & Company LLC cut Verint Systems from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Finally, TD Cowen cut Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Verint Systems has an average rating of "Hold" and a consensus price target of $26.33.

Verint Systems Stock Performance

VRNT stock traded down $0.01 during midday trading on Wednesday, reaching $20.31. The company's stock had a trading volume of 2,031,191 shares, compared to its average volume of 3,118,527. The stock has a fifty day simple moving average of $20.58 and a two-hundred day simple moving average of $19.22. Verint Systems Inc. has a 1 year low of $14.15 and a 1 year high of $34.80. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 0.89 and a beta of 1.47.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its earnings results on Tuesday, September 2nd. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. Verint Systems had a return on equity of 11.06% and a net margin of 6.87%.The business had revenue of $165.52 million for the quarter, compared to analyst estimates of $200.43 million. During the same quarter last year, the firm posted $0.49 earnings per share. The business's 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 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.