State of New Jersey Common Pension Fund D Trims Stock Holdings in Verint Systems Inc. (NASDAQ:VRNT)

State of New Jersey Common Pension Fund D reduced its stake in Verint Systems Inc. (NASDAQ:VRNTGet Rating) by 12.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,615 shares of the technology company’s stock after selling 7,271 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.08% of Verint Systems worth $2,617,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of VRNT. Virginia Retirement Systems ET AL acquired a new position in Verint Systems in the 1st quarter valued at about $429,000. KRS Capital Management LLC acquired a new position in Verint Systems in the 4th quarter valued at about $36,000. GSA Capital Partners LLP acquired a new position in Verint Systems in the 4th quarter valued at about $301,000. Cornerstone Investment Partners LLC acquired a new position in Verint Systems in the 4th quarter valued at about $211,000. Finally, Alpha Paradigm Partners LLC acquired a new position in Verint Systems in the 4th quarter valued at about $65,000.

Verint Systems Stock Performance

Shares of Verint Systems stock opened at $45.67 on Monday. The business has a 50-day simple moving average of $45.31 and a 200-day simple moving average of $49.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.20 and a current ratio of 1.22. The company has a market cap of $2.95 billion, a PE ratio of -415.14, a P/E/G ratio of 1.98 and a beta of 0.84. Verint Systems Inc. has a one year low of $39.83 and a one year high of $56.39.

Verint Systems (NASDAQ:VRNTGet Rating) last announced its quarterly earnings results on Tuesday, June 7th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $219.25 million during the quarter, compared to the consensus estimate of $215.52 million. Verint Systems had a return on equity of 13.49% and a net margin of 1.56%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share. On average, equities research analysts forecast that Verint Systems Inc. will post 1.49 EPS for the current fiscal year.

Insider Activity at Verint Systems

In related news, President Elan Moriah sold 2,337 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $44.88, for a total value of $104,884.56. Following the completion of the transaction, the president now directly owns 118,485 shares of the company’s stock, valued at $5,317,606.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Verint Systems news, insider Peter Fante sold 6,289 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $43.38, for a total value of $272,816.82. Following the completion of the sale, the insider now owns 46,417 shares in the company, valued at $2,013,569.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Elan Moriah sold 2,337 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $44.88, for a total value of $104,884.56. Following the completion of the sale, the president now owns 118,485 shares of the company’s stock, valued at approximately $5,317,606.80. The disclosure for this sale can be found here. Insiders sold 27,701 shares of company stock valued at $1,198,489 over the last three months. 2.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, July 6th. The Goldman Sachs Group downgraded Verint Systems from a “buy” rating to a “neutral” rating and set a $57.00 target price for the company. in a research report on Tuesday, April 12th. Needham & Company LLC reissued a “buy” rating and set a $61.00 price objective on shares of Verint Systems in a research report on Wednesday, June 8th. TheStreet downgraded Verint Systems from a “b-” rating to a “c” rating in a research report on Tuesday, April 12th. Finally, Evercore ISI lowered their price objective on Verint Systems to $65.00 in a research report on Thursday, June 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $63.80.

Verint Systems Profile

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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.

See Also

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

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