Verint Systems Inc. (NASDAQ:VRNT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in Verint Systems Inc. (NASDAQ:VRNTFree Report) by 26.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 111,666 shares of the technology company’s stock after selling 40,327 shares during the period. Allspring Global Investments Holdings LLC owned about 0.17% of Verint Systems worth $3,915,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of VRNT. Raymond James & Associates boosted its holdings in shares of Verint Systems by 12.1% in the 1st quarter. Raymond James & Associates now owns 7,821 shares of the technology company’s stock valued at $404,000 after buying an additional 843 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Verint Systems by 53.6% in the 1st quarter. MetLife Investment Management LLC now owns 34,707 shares of the technology company’s stock valued at $1,794,000 after buying an additional 12,108 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of Verint Systems by 14.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 3,456 shares of the technology company’s stock valued at $190,000 after buying an additional 438 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Verint Systems by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,415,021 shares of the technology company’s stock valued at $73,156,000 after buying an additional 24,335 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Verint Systems in the 1st quarter valued at about $2,533,000.

Insider Buying and Selling

In related news, President Elan Moriah sold 2,270 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $24.94, for a total value of $56,613.80. Following the sale, the president now directly owns 99,250 shares in the company, valued at approximately $2,475,295. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Dan Bodner sold 5,829 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $24.94, for a total transaction of $145,375.26. Following the sale, the chief executive officer now owns 1,005,645 shares in the company, valued at $25,080,786.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Elan Moriah sold 2,270 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $24.94, for a total transaction of $56,613.80. Following the sale, the president now owns 99,250 shares in the company, valued at approximately $2,475,295. The disclosure for this sale can be found here. Insiders have sold 40,511 shares of company stock worth $1,237,944 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

VRNT has been the subject of a number of analyst reports. Jefferies Financial Group reduced their target price on shares of Verint Systems from $40.00 to $25.00 in a research note on Friday, September 8th. Oppenheimer lowered shares of Verint Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 7th. Royal Bank of Canada reduced their target price on shares of Verint Systems from $46.00 to $38.00 and set an “outperform” rating for the company in a research note on Thursday, September 7th. Wedbush reduced their target price on shares of Verint Systems from $45.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, September 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Verint Systems in a research note on Wednesday, September 27th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Verint Systems presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Read Our Latest Research Report on VRNT

Verint Systems Stock Up 6.6 %

NASDAQ VRNT opened at $21.08 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.27. The company’s 50 day simple moving average is $23.59 and its 200 day simple moving average is $31.46. Verint Systems Inc. has a 12 month low of $18.41 and a 12 month high of $40.71. The company has a market capitalization of $1.35 billion, a P/E ratio of -210.78, a PEG ratio of 1.63 and a beta of 1.09.

Verint Systems (NASDAQ:VRNTGet Free Report) last released its earnings results on Wednesday, September 6th. The technology company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.09). Verint Systems had a return on equity of 15.48% and a net margin of 1.61%. The business had revenue of $210.20 million during the quarter, compared to the consensus estimate of $225.10 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. Equities research analysts expect that Verint Systems Inc. will post 1.73 earnings per share for the current fiscal year.

Verint Systems Profile

(Free Report)

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; Knowledge Management, which enables humans and bots to deliver service with tools.

Further Reading

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

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