Geode Capital Management LLC Sells 6,335 Shares of Verint Systems Inc. (NASDAQ:VRNT)

Geode Capital Management LLC decreased its holdings in shares of Verint Systems Inc. (NASDAQ:VRNT) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,493,752 shares of the technology company’s stock after selling 6,335 shares during the period. Geode Capital Management LLC owned about 2.40% of Verint Systems worth $41,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Plato Investment Management Ltd bought a new stake in shares of Verint Systems during the 4th quarter valued at $43,000. Parkside Financial Bank & Trust purchased a new stake in Verint Systems in the 4th quarter worth $52,000. PNC Financial Services Group Inc. raised its holdings in Verint Systems by 45.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock valued at $54,000 after acquiring an additional 613 shares during the period. KBC Group NV lifted its position in shares of Verint Systems by 75.0% in the fourth quarter. KBC Group NV now owns 3,380 shares of the technology company’s stock valued at $93,000 after acquiring an additional 1,449 shares in the last quarter. Finally, Campbell Capital Management Inc. bought a new position in shares of Verint Systems in the fourth quarter worth about $110,000. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Verint Systems Trading Up 1.2 %

NASDAQ:VRNT opened at $16.51 on Wednesday. The firm has a 50-day simple moving average of $21.13 and a 200-day simple moving average of $23.76. Verint Systems Inc. has a one year low of $14.15 and a one year high of $38.17. The firm has a market cap of $1.03 billion, a P/E ratio of 17.56, a P/E/G ratio of 0.97 and a beta of 1.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32.

Verint Systems (NASDAQ:VRNT) last posted its earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The company had revenue of $253.50 million for the quarter, compared to analysts’ expectations of $276.82 million. During the same quarter in the prior year, the company earned $1.07 EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts anticipate that Verint Systems Inc. will post 1.92 EPS for the current fiscal year.

Insider Activity at Verint Systems

In other news, Director Stephen J. Gold sold 2,744 shares of the company’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $16.07, for a total transaction of $44,096.08. Following the transaction, the director now owns 28,473 shares in the company, valued at $457,561.11. This represents a 8.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Peter Fante sold 9,439 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $16.50, for a total transaction of $155,743.50. Following the sale, the insider now directly owns 20,450 shares in the company, valued at $337,425. This trade represents a 31.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VRNT shares. Royal Bank of Canada cut their price objective on shares of Verint Systems from $36.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, March 27th. StockNews.com cut shares of Verint Systems from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Wedbush decreased their price target on shares of Verint Systems from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, March 28th. Evercore ISI cut their price objective on Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a research report on Thursday, March 27th. Finally, Needham & Company LLC decreased their target price on Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Verint Systems presently has an average rating of “Moderate Buy” and an average target price of $30.33.

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.