William Blair Investment Management LLC Reduces Position in Verint Systems Inc. $VRNT

Key Points

• William Blair Investment Management LLC reduced its stake in Verint Systems by 7.6%, bringing its total holdings to 1,244,068 shares, valued at approximately $24.47 million.
• Several research analysts have downgraded Verint Systems, with Rosenblatt Securities and Needham & Company both moving from a "buy" to a "hold" rating and lowering target prices significantly.
• Verint Systems reported earnings of $0.33 per share, exceeding estimates, but its revenue of $165.52 million fell short of analysts' expectations of $200.43 million, showing a year-over-year decline.

William Blair Investment Management LLC cut its position in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,244,068 shares of the technology company's stock after selling 102,133 shares during the period. William Blair Investment Management LLC owned 2.07% of Verint Systems worth $24,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of VRNT. Strs Ohio acquired a new position in shares of Verint Systems in the 1st quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Verint Systems in the 1st quarter valued at $40,000. Wolverine Asset Management LLC acquired a new position in shares of Verint Systems in the 1st quarter valued at $94,000. GAMMA Investing LLC boosted its holdings in shares of Verint Systems by 916.9% in the 1st quarter. GAMMA Investing LLC now owns 5,837 shares of the technology company's stock valued at $104,000 after buying an additional 5,263 shares in the last quarter. Finally, State of Wyoming boosted its holdings in shares of Verint Systems by 7.4% in 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. 94.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VRNT has been the subject of several research analyst reports. Rosenblatt Securities cut shares of Verint Systems from a "buy" rating to a "hold" rating and lowered their target price for the company from $40.00 to $20.50 in a report on Monday, August 25th. Royal Bank Of Canada restated a "sector perform" rating and issued a $20.50 target price (down previously from $29.00) on shares of Verint Systems in a report on Tuesday, August 26th. Wedbush cut shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Weiss Ratings restated a "sell (d+)" rating on shares of Verint Systems in a report on Wednesday, October 8th. Finally, Needham & Company LLC cut 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 assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $26.33.

Verint Systems Price Performance

Shares of NASDAQ:VRNT opened at $20.24 on Monday. The stock has a market cap of $1.22 billion, a P/E ratio of 28.51, a P/E/G ratio of 0.88 and a beta of 1.50. The firm has a fifty day moving average price of $20.17 and a 200 day moving average price of $19.11. Verint Systems Inc. has a 1-year low of $14.15 and a 1-year 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 analysts' consensus estimates of $0.26 by $0.07. Verint Systems had a net margin of 6.87% and a return on equity of 11.06%. The firm had revenue of $165.52 million during the quarter, compared to analysts' expectations of $200.43 million. During the same quarter in the prior year, the business earned $0.49 EPS. Verint Systems's quarterly revenue was down 1.0% compared to the same quarter last year. Sell-side analysts expect that Verint Systems Inc. will post 1.92 EPS for the current fiscal year.

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.

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