Lannebo Fonder AB Reduces Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Lannebo Fonder AB trimmed its stake in Verint Systems Inc. (NASDAQ:VRNTGet Rating) by 14.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 55,000 shares of the technology company’s stock after selling 9,000 shares during the period. Lannebo Fonder AB’s holdings in Verint Systems were worth $2,844,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. KRS Capital Management LLC purchased a new position in Verint Systems during the 4th quarter worth $36,000. Alpha Paradigm Partners LLC purchased a new position in Verint Systems during the 4th quarter worth $65,000. Strs Ohio purchased a new position in Verint Systems during the 4th quarter worth $78,000. Pinebridge Investments L.P. purchased a new position in Verint Systems during the 4th quarter worth $105,000. Finally, Gladius Capital Management LP purchased a new stake in shares of Verint Systems in the fourth quarter valued at about $149,000.

Several brokerages have recently weighed in on VRNT. The Goldman Sachs Group downgraded shares of Verint Systems from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a report on Tuesday, April 12th. StockNews.com downgraded shares of Verint Systems from a “buy” rating to a “hold” rating in a report on Friday, April 8th. TheStreet cut shares of Verint Systems from a “b-” rating to a “c” rating in a research note on Tuesday, April 12th. Evercore ISI reduced their price objective on shares of Verint Systems to $65.00 in a research note on Thursday, June 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $61.00 price objective on shares of Verint Systems in a research note on Wednesday, June 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.80.

In other Verint Systems news, CEO Dan Bodner sold 40,120 shares of the business’s stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $50.49, for a total transaction of $2,025,658.80. Following the completion of the sale, the chief executive officer now directly owns 976,483 shares in the company, valued at $49,302,626.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Elan Moriah sold 8,920 shares of the business’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $51.58, for a total transaction of $460,093.60. Following the sale, the president now owns 90,894 shares of the company’s stock, valued at $4,688,312.52. The disclosure for this sale can be found here. In the last three months, insiders sold 122,952 shares of company stock valued at $6,094,041. Company insiders own 2.40% of the company’s stock.

VRNT traded up $0.07 during midday trading on Friday, reaching $42.42. 3,737 shares of the company’s stock were exchanged, compared to its average volume of 530,442. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.22 and a quick ratio of 1.20. The stock has a market capitalization of $2.74 billion, a PE ratio of -384.97, a P/E/G ratio of 1.96 and a beta of 0.77. The business’s 50-day moving average price is $49.13 and its 200 day moving average price is $50.71. Verint Systems Inc. has a 1-year low of $39.83 and a 1-year high of $56.39.

Verint Systems (NASDAQ:VRNTGet Rating) last posted its quarterly earnings data on Tuesday, June 7th. The technology company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The business had revenue of $219.25 million during the quarter, compared to analyst estimates of $215.52 million. Verint Systems had a net margin of 1.56% and a return on equity of 13.49%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. As a group, analysts expect that Verint Systems Inc. will post 1.49 EPS for the current fiscal year.

Verint Systems Company Profile (Get Rating)

Verint Systems Inc provides customer engagement solutions worldwide. It offers various applications for use in Forecasting and Scheduling, which understands the work needed to meet and exceed customer expectations; Quality and Compliance that uses automation and analytics for customer interactions for attended and self-service channels; Interaction Insights, which extracts insights from structured and unstructured customer interactions and activities; Real-Time Work that supports in-the-moment workforce activities; Engagement Channels, an application for messaging, social, chat, email, and interactive voice response; Conversational AI, an intelligent virtual assistant application to enable human-like conversations across every channel; Engagement Orchestration, an application that improves employee efficiency, time to resolution, compliance, and customer satisfaction with workflows; Knowledge Management, which help agents to deliver stellar service with tools.

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Institutional Ownership by Quarter for Verint Systems (NASDAQ:VRNT)

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