Nuveen Asset Management LLC Sells 178,978 Shares of Verint Systems Inc. (NASDAQ:VRNT)

Nuveen Asset Management LLC cut its holdings in Verint Systems Inc. (NASDAQ:VRNT) by 26.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 493,338 shares of the technology company’s stock after selling 178,978 shares during the quarter. Nuveen Asset Management LLC owned about 0.79% of Verint Systems worth $13,542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VRNT. Marshall Wace LLP bought a new position in Verint Systems in the fourth quarter valued at approximately $22,528,000. Arrowstreet Capital Limited Partnership raised its holdings in Verint Systems by 491.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 764,498 shares of the technology company’s stock worth $20,985,000 after purchasing an additional 635,334 shares during the period. Invenomic Capital Management LP acquired a new stake in Verint Systems in the fourth quarter worth $14,653,000. Global Alpha Capital Management Ltd. raised its holdings in Verint Systems by 39.5% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,717,703 shares of the technology company’s stock worth $47,151,000 after purchasing an additional 486,000 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Verint Systems by 48.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,263,502 shares of the technology company’s stock worth $34,683,000 after purchasing an additional 412,655 shares during the period. 94.95% of the stock is owned by institutional investors.

Verint Systems Trading Down 1.5%

Shares of NASDAQ:VRNT opened at $16.80 on Tuesday. Verint Systems Inc. has a 12 month low of $14.15 and a 12 month high of $38.17. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $17.53 and its 200 day simple moving average is $22.64. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 0.97 and a beta of 1.45.

Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings data on Wednesday, March 26th. The technology company reported $0.99 EPS 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 analyst estimates of $276.82 million. During the same quarter in the previous year, the business earned $1.07 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. As a group, research analysts forecast that Verint Systems Inc. will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Verint Systems news, insider Peter Fante sold 9,439 shares of Verint Systems stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $16.50, for a total value of $155,743.50. Following the sale, the insider now directly owns 20,450 shares in the company, valued at approximately $337,425. The trade was a 31.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen J. Gold sold 2,744 shares of Verint Systems stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $16.07, for a total transaction of $44,096.08. Following the completion of the sale, the director now owns 28,473 shares in the company, valued at $457,561.11. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

VRNT has been the topic of several analyst reports. Wall Street Zen lowered shares of Verint Systems from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Evercore ISI cut their target price on shares of Verint Systems from $34.00 to $23.00 and set an “in-line” rating on the stock in a report on Thursday, March 27th. Wedbush cut their target price on shares of Verint Systems from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, March 28th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Verint Systems in a report on Friday, April 25th. Finally, Royal Bank of Canada cut their target price on shares of Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Verint Systems has a consensus 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.