AlphaQuest LLC Trims Stock Position in Verint Systems Inc. $VRNT

AlphaQuest LLC lowered its position in shares of Verint Systems Inc. (NASDAQ:VRNT) by 33.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,933 shares of the technology company’s stock after selling 5,075 shares during the period. AlphaQuest LLC’s holdings in Verint Systems were worth $195,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its stake in Verint Systems by 2,180.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,642 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,570 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Verint Systems by 3.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 189,512 shares of the technology company’s stock worth $3,515,000 after buying an additional 5,695 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Verint Systems by 29.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 224,963 shares of the technology company’s stock worth $4,182,000 after buying an additional 51,487 shares in the last quarter. CWM LLC grew its stake in Verint Systems by 552.0% in the 2nd quarter. CWM LLC now owns 20,552 shares of the technology company’s stock worth $404,000 after buying an additional 17,400 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Verint Systems by 19.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 45,480 shares of the technology company’s stock worth $895,000 after buying an additional 7,513 shares in the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Verint Systems Stock Performance

NASDAQ:VRNT opened at $20.28 on Monday. The firm has a market cap of $1.23 billion, a P/E ratio of 28.56, a P/E/G ratio of 0.89 and a beta of 1.50. Verint Systems Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $34.80. The firm has a 50-day simple moving average of $20.29 and a two-hundred day simple moving average of $19.46.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on VRNT shares. Needham & Company LLC cut shares of Verint Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 25th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.50 price target (down previously from $29.00) on shares of Verint Systems in a research note on Tuesday, August 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Verint Systems in a report on Wednesday, October 8th. Rosenblatt Securities cut shares of Verint Systems from a “buy” rating to a “hold” rating and cut their price objective for the company from $40.00 to $20.50 in a research note on Monday, August 25th. Finally, TD Cowen cut shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.33.

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.