Wealth Enhancement Advisory Services LLC Takes Position in Verint Systems Inc. $VRNT

Key Points

• Wealth Enhancement Advisory Services LLC purchased 13,453 shares of Verint Systems Inc., valued at approximately $289,000, marking a new stake in the company.
• Recent analyst ratings for Verint Systems have been primarily negative, with several firms downgrading the stock from "buy" to "hold" and lowering price targets significantly.
• Verint Systems reported earnings of $0.33 per share for the last quarter, surpassing expectations but showing a revenue decline of 1% year-over-year, with current projections of $1.92 EPS for the fiscal year.

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Verint Systems Inc. (NASDAQ:VRNT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 13,453 shares of the technology company's stock, valued at approximately $289,000.

Several other hedge funds have also bought and sold shares of VRNT. State of Wyoming grew its holdings in Verint Systems by 7.4% during the 1st quarter. State of Wyoming now owns 9,384 shares of the technology company's stock valued at $168,000 after buying an additional 646 shares in the last quarter. Strs Ohio bought a new stake in shares of Verint Systems during the first quarter valued at approximately $29,000. Harbor Capital Advisors Inc. grew its position in shares of Verint Systems by 14.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 16,536 shares of the technology company's stock worth $325,000 after buying an additional 2,031 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Verint Systems in the 1st quarter valued at about $40,000. Finally, EP Wealth Advisors LLC boosted its position in Verint Systems by 34.0% during the 1st quarter. EP Wealth Advisors LLC now owns 10,944 shares of the technology company's stock valued at $195,000 after acquiring an additional 2,776 shares in the last quarter. Institutional investors own 94.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VRNT. Rosenblatt Securities downgraded shares of Verint Systems from a "buy" rating to a "hold" rating and cut their price objective for the company from $40.00 to $20.50 in a report on Monday, August 25th. Wedbush cut shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Verint Systems in a research report on Wednesday. Royal Bank Of Canada reissued a "sector perform" rating and set a $20.50 target price (down previously from $29.00) on shares of Verint Systems in a report on Tuesday, August 26th. Finally, Needham & Company LLC lowered shares of Verint Systems from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $26.33.

Verint Systems Stock Up 0.0%

VRNT opened at $20.26 on Thursday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 0.89 and a beta of 1.50. The business's 50 day moving average is $20.28 and its two-hundred day moving average is $19.05. Verint Systems Inc. has a 52 week low of $14.15 and a 52 week high of $34.80.

Verint Systems (NASDAQ:VRNT - Get Free Report) last issued its quarterly earnings results 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 return on equity of 11.06% and a net margin of 6.87%.The firm had revenue of $165.52 million during the quarter, compared to the consensus estimate of $200.43 million. During the same period last year, the company earned $0.49 earnings per share. The company's revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts expect 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.

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