Connor Clark & Lunn Investment Management Ltd. Buys Shares of 23,807 Verint Systems Inc. $VRNT

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Verint Systems Inc. (NASDAQ:VRNT) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 23,807 shares of the technology company’s stock, valued at approximately $468,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in VRNT. Envestnet Asset Management Inc. boosted its stake in Verint Systems by 7.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 78,316 shares of the technology company’s stock valued at $1,398,000 after acquiring an additional 5,707 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Verint Systems in the 1st quarter valued at about $352,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Verint Systems during the first quarter worth about $6,406,000. Mackenzie Financial Corp lifted its position in shares of Verint Systems by 53.6% during the first quarter. Mackenzie Financial Corp now owns 150,190 shares of the technology company’s stock worth $2,681,000 after purchasing an additional 52,433 shares during the last quarter. Finally, Picton Mahoney Asset Management grew its stake in Verint Systems by 113,733.3% in the first quarter. Picton Mahoney Asset Management now owns 51,225 shares of the technology company’s stock worth $914,000 after purchasing an additional 51,180 shares in the last quarter. Institutional investors own 94.95% of the company’s stock.

Analyst Ratings Changes

VRNT has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $20.50 target price (down previously from $29.00) on shares of Verint Systems in a report on Tuesday, August 26th. Needham & Company LLC cut Verint Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 25th. TD Cowen downgraded shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Wedbush lowered shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, Rosenblatt Securities downgraded shares of Verint Systems from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $20.50 in a research report on Monday, August 25th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.33.

Verint Systems Price Performance

Shares of NASDAQ VRNT opened at $20.17 on Friday. Verint Systems Inc. has a 1-year low of $14.15 and a 1-year high of $34.80. The business’s fifty day moving average price is $20.27 and its two-hundred day moving average price is $19.73. The firm has a market capitalization of $1.22 billion, a PE ratio of 28.41, a P/E/G ratio of 0.89 and a beta of 1.52.

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

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.