Comerica Bank Trims Holdings in Verint Systems Inc. $VRNT

Comerica Bank cut its stake in Verint Systems Inc. (NASDAQ:VRNT) by 43.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,503 shares of the technology company’s stock after selling 27,503 shares during the quarter. Comerica Bank owned about 0.06% of Verint Systems worth $634,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in VRNT. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Verint Systems during the first quarter valued at $40,000. Parallel Advisors LLC boosted its stake in Verint Systems by 14,079.2% during the first quarter. Parallel Advisors LLC now owns 3,403 shares of the technology company’s stock valued at $61,000 after buying an additional 3,379 shares during the period. Wolverine Asset Management LLC bought a new stake in Verint Systems during the first quarter valued at $94,000. GAMMA Investing LLC boosted its stake in Verint Systems by 916.9% during the first quarter. GAMMA Investing LLC now owns 5,837 shares of the technology company’s stock valued at $104,000 after buying an additional 5,263 shares during the period. Finally, Cetera Investment Advisers bought a new stake in Verint Systems during the fourth quarter valued at $201,000. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Verint Systems Price Performance

Shares of VRNT stock opened at $20.36 on Monday. The business has a 50-day moving average price of $20.67 and a two-hundred day moving average price of $19.33. Verint Systems Inc. has a 12-month low of $14.15 and a 12-month high of $34.80. The firm has a market cap of $1.23 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.47.

Verint Systems (NASDAQ:VRNT) last released its earnings results on Tuesday, September 2nd. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. Verint Systems had a return on equity of 11.06% and a net margin of 6.87%.The company had revenue of $165.52 million during the quarter, compared to analyst estimates of $200.43 million. During the same quarter in the previous year, the company posted $0.49 EPS. Verint Systems’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, research analysts expect that Verint Systems Inc. will post 1.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VRNT shares. Royal Bank Of Canada reissued a “sector perform” rating and set a $20.50 price objective (down previously from $29.00) on shares of Verint Systems in a research note on Tuesday, August 26th. Cowen reissued a “buy” rating on shares of Verint Systems in a research note on Wednesday, June 4th. Wedbush lowered Verint Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. TD Cowen lowered Verint Systems from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. Finally, Rosenblatt Securities lowered Verint Systems from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $20.50 in a research note on Monday, August 25th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $26.33.

About Verint Systems

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.