Wellington Management Group LLP Trims Stake in Verint Systems Inc. (NASDAQ:VRNT)

Wellington Management Group LLP lowered its stake in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 38.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,777,885 shares of the technology company's stock after selling 1,103,431 shares during the period. Wellington Management Group LLP owned approximately 2.85% of Verint Systems worth $48,803,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Verint Systems in the 4th quarter valued at about $5,276,000. KLP Kapitalforvaltning AS acquired a new position in shares of Verint Systems during the 4th quarter worth approximately $321,000. Northern Trust Corp grew its position in shares of Verint Systems by 1.5% during the 4th quarter. Northern Trust Corp now owns 639,234 shares of the technology company's stock worth $17,547,000 after purchasing an additional 9,361 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Verint Systems during the 4th quarter worth approximately $1,484,000. Finally, American Century Companies Inc. grew its position in shares of Verint Systems by 9.4% during the 4th quarter. American Century Companies Inc. now owns 109,736 shares of the technology company's stock worth $3,012,000 after purchasing an additional 9,411 shares in the last quarter. Institutional investors and hedge funds own 94.95% of the company's stock.

Wall Street Analysts Forecast Growth

VRNT has been the topic of a number of analyst reports. Evercore ISI decreased their target price on shares of Verint Systems from $34.00 to $23.00 and set an "in-line" rating on the stock in a research report on Thursday, March 27th. Wedbush lowered their price objective on shares of Verint Systems from $38.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, March 28th. Royal Bank of Canada lowered their price target on shares of Verint Systems from $36.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price target on shares of Verint Systems in a report on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Verint Systems from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $30.33.

Verint Systems Stock Up 2.7%

NASDAQ:VRNT traded up $0.47 on Tuesday, hitting $17.69. The stock had a trading volume of 207,570 shares, compared to its average volume of 807,004. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The stock has a market cap of $1.07 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45. Verint Systems Inc. has a 1 year low of $14.15 and a 1 year high of $38.17. The firm's fifty day simple moving average is $17.10 and its two-hundred day simple moving average is $22.38.

Verint Systems (NASDAQ:VRNT - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.28). Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The company had revenue of $253.50 million for the quarter, compared to analysts' expectations of $276.82 million. During the same quarter in the previous year, the business earned $1.07 EPS. The company's revenue for the quarter was down 4.4% on a year-over-year basis. Analysts predict that Verint Systems Inc. will post 1.92 earnings per share for the current year.

Insider Transactions at Verint Systems

In other news, insider Peter Fante sold 9,439 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $16.50, for a total transaction of $155,743.50. Following the completion of the sale, the insider now owns 20,450 shares in the company, valued at $337,425. This trade represents a 31.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen J. Gold sold 2,744 shares of Verint Systems stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $16.07, for a total transaction of $44,096.08. Following the completion of the transaction, the director now owns 28,473 shares of the company's stock, valued at $457,561.11. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

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.