Massachusetts Financial Services Co. MA Reduces Stock Position in Verint Systems Inc. (NASDAQ:VRNT)

Massachusetts Financial Services Co. MA lessened its position in shares of Verint Systems Inc. (NASDAQ:VRNT) by 31.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 850,847 shares of the technology company’s stock after selling 383,823 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Verint Systems were worth $21,552,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in VRNT. Quarry LP grew its stake in Verint Systems by 160.9% during the 2nd quarter. Quarry LP now owns 793 shares of the technology company’s stock valued at $26,000 after purchasing an additional 489 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Verint Systems in the second quarter worth about $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Verint Systems in the second quarter worth about $43,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Verint Systems in the second quarter worth about $138,000. Finally, CWM LLC boosted its stake in shares of Verint Systems by 135.0% in the third quarter. CWM LLC now owns 5,660 shares of the technology company’s stock worth $143,000 after buying an additional 3,251 shares during the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Insider Buying and Selling at Verint Systems

In other Verint Systems news, CFO Grant A. Highlander sold 3,389 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.85, for a total transaction of $87,605.65. Following the completion of the transaction, the chief financial officer now owns 131,267 shares of the company’s stock, valued at $3,393,251.95. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dan Bodner sold 16,932 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.85, for a total value of $437,692.20. Following the transaction, the chief executive officer now directly owns 592,832 shares of the company’s stock, valued at $15,324,707.20. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,811 shares of company stock valued at $874,014 over the last quarter. 1.70% of the stock is currently owned by insiders.

Verint Systems Stock Performance

NASDAQ VRNT opened at $24.82 on Tuesday. The stock has a 50-day moving average of $23.72 and a 200 day moving average of $29.20. Verint Systems Inc. has a twelve month low of $21.27 and a twelve month high of $38.17. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 1.03 and a beta of 1.25. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.49.

Verint Systems (NASDAQ:VRNT) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Verint Systems had a net margin of 6.78% and a return on equity of 16.17%. The firm had revenue of $210.17 million for the quarter, compared to analyst estimates of $212.81 million. During the same period in the previous year, the company earned $0.22 EPS. Verint Systems’s revenue was up .0% compared to the same quarter last year. Sell-side analysts anticipate that Verint Systems Inc. will post 1.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VRNT. Evercore ISI lowered their target price on Verint Systems from $34.00 to $30.00 and set an “in-line” rating on the stock in a research note on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Verint Systems in a research note on Wednesday, September 25th. Jefferies Financial Group lowered their target price on Verint Systems from $32.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Verint Systems in a report on Thursday, September 26th. Finally, TD Cowen reduced their price target on Verint Systems from $40.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.67.

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.