XTX Topco Ltd Trims Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Key Points

• XTX Topco Ltd reduced its holdings in Verint Systems by 54.3%, owning 10,771 shares valued at $192,000 by the end of the first quarter.
• Verint Systems has received multiple buy ratings from analysts, with a current average price target of $31.71 and a consensus rating of Moderate Buy.
• The company reported earnings of $0.29 EPS, missing estimates, with a 6.0% decline in quarterly revenue compared to the previous year.

XTX Topco Ltd decreased its position in Verint Systems Inc. (NASDAQ:VRNT - Free Report) by 54.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,771 shares of the technology company's stock after selling 12,785 shares during the quarter. XTX Topco Ltd's holdings in Verint Systems were worth $192,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Clark Capital Management Group Inc. raised its holdings in Verint Systems by 0.4% during the fourth quarter. Clark Capital Management Group Inc. now owns 142,398 shares of the technology company's stock worth $3,909,000 after purchasing an additional 515 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Verint Systems by 3.5% during the fourth quarter. Wells Fargo & Company MN now owns 46,614 shares of the technology company's stock worth $1,280,000 after acquiring an additional 1,562 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Verint Systems by 808.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company's stock worth $53,000 after acquiring an additional 1,713 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Verint Systems by 5.2% during the fourth quarter. MetLife Investment Management LLC now owns 37,507 shares of the technology company's stock worth $1,030,000 after acquiring an additional 1,853 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Verint Systems during the fourth quarter worth approximately $58,000. Institutional investors and hedge funds own 94.95% of the company's stock.

Verint Systems Price Performance

Shares of NASDAQ VRNT traded down $0.29 during trading on Friday, hitting $19.49. 998,330 shares of the company were exchanged, compared to its average volume of 977,092. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 0.79 and a beta of 1.46. Verint Systems Inc. has a 1 year low of $14.15 and a 1 year high of $34.80. The firm's fifty day moving average price is $20.01 and its 200 day moving average price is $20.03.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.12). Verint Systems had a return on equity of 12.35% and a net margin of 7.66%. The business had revenue of $173.62 million during the quarter, compared to analysts' expectations of $194.61 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Verint Systems's quarterly revenue was down 6.0% on a year-over-year basis. On average, research analysts forecast that Verint Systems Inc. will post 1.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VRNT. Needham & Company LLC restated a "buy" rating and set a $30.00 target price on shares of Verint Systems in a research report on Thursday, June 5th. Rosenblatt Securities began coverage on shares of Verint Systems in a research report on Friday, July 18th. They set a "buy" rating and a $40.00 target price on the stock. Cowen restated a "buy" rating on shares of Verint Systems in a research report on Wednesday, June 4th. Finally, Wedbush restated an "outperform" rating and set a $30.00 target price on shares of Verint Systems in a research report on Wednesday, June 4th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Verint Systems has an average rating of "Moderate Buy" and an average price target of $31.71.

Verint Systems 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.