Clark Capital Management Group Inc. Acquires 29,716 Shares of Verint Systems Inc. $VRNT

Key Points

• Clark Capital Management Group Inc. increased its stake in Verint Systems by 20.9% in the first quarter, now owning 172,114 shares valued at approximately $3.07 million.
• Several institutional investors, including GAMMA Investing LLC and Parallel Advisors LLC, have significantly boosted their holdings in Verint Systems during the same period, underscoring increasing institutional interest.
• Verint Systems reported an earnings per share (EPS) of $0.33 for the last quarter, beating estimates, but its revenue declined by 1.0% year-over-year to $165.52 million.

Clark Capital Management Group Inc. increased its stake in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 20.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 172,114 shares of the technology company's stock after acquiring an additional 29,716 shares during the period. Clark Capital Management Group Inc. owned about 0.28% of Verint Systems worth $3,072,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in VRNT. Invenomic Capital Management LP acquired a new position in Verint Systems during the fourth quarter worth approximately $14,653,000. Nuveen LLC acquired a new position in shares of Verint Systems during the 1st quarter worth approximately $8,758,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Verint Systems in the 1st quarter valued at $6,406,000. Foundry Partners LLC bought a new position in Verint Systems during the first quarter worth $5,436,000. Finally, Millennium Management LLC boosted its position in Verint Systems by 62.1% during the fourth quarter. Millennium Management LLC now owns 516,438 shares of the technology company's stock worth $14,176,000 after purchasing an additional 197,893 shares during the period. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Verint Systems Trading Up 0.1%

NASDAQ VRNT traded up $0.02 during midday trading on Thursday, hitting $20.35. The company had a trading volume of 638,693 shares, compared to its average volume of 2,912,168. The firm has a 50-day moving average price of $20.68 and a 200-day moving average price of $19.29. The company has a market capitalization of $1.23 billion, a PE ratio of 28.66, a P/E/G ratio of 0.89 and a beta of 1.47. Verint Systems Inc. has a twelve month low of $14.15 and a twelve month high of $34.80.

Verint Systems (NASDAQ:VRNT - Get Free Report) last posted 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 return on equity of 11.06% and a net margin of 6.87%.The business had revenue of $165.52 million during the quarter, compared to the consensus estimate of $200.43 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Verint Systems's revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Verint Systems Inc. will post 1.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada restated 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. Wedbush downgraded shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a research report 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 report on Monday, August 25th. TD Cowen lowered Verint Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Needham & Company LLC downgraded Verint Systems from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Verint Systems currently has an average rating of "Hold" and a consensus 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.