Wedge Capital Management L L P NC Lowers Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Wedge Capital Management L L P NC lowered its holdings in Verint Systems Inc. (NASDAQ:VRNT) by 16.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,402 shares of the technology company’s stock after selling 14,290 shares during the quarter. Wedge Capital Management L L P NC owned 0.12% of Verint Systems worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Verint Systems by 2.6% in the first quarter. Vanguard Group Inc. now owns 7,367,685 shares of the technology company’s stock worth $244,239,000 after purchasing an additional 185,105 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Verint Systems in the fourth quarter worth $34,172,000. Global Alpha Capital Management Ltd. grew its holdings in shares of Verint Systems by 23.3% in the first quarter. Global Alpha Capital Management Ltd. now owns 968,303 shares of the technology company’s stock worth $32,099,000 after acquiring an additional 182,800 shares during the period. Norges Bank bought a new stake in shares of Verint Systems in the fourth quarter worth $18,601,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Verint Systems by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 616,463 shares of the technology company’s stock worth $16,663,000 after acquiring an additional 24,952 shares during the period. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Verint Systems Price Performance

Shares of NASDAQ VRNT traded up $1.59 during mid-day trading on Thursday, reaching $33.09. The company’s stock had a trading volume of 535,777 shares, compared to its average volume of 623,476. The firm has a market capitalization of $2.04 billion, a PE ratio of 68.94, a P/E/G ratio of 1.35 and a beta of 1.26. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a fifty day moving average of $33.53 and a two-hundred day moving average of $31.89. Verint Systems Inc. has a 52 week low of $18.41 and a 52 week high of $38.17.

Verint Systems (NASDAQ:VRNT) last released its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The business had revenue of $221.28 million during the quarter, compared to the consensus estimate of $214.71 million. Verint Systems had a return on equity of 16.56% and a net margin of 5.52%. As a group, sell-side analysts anticipate that Verint Systems Inc. will post 1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on VRNT. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Verint Systems in a report on Wednesday, June 5th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of Verint Systems in a report on Wednesday, July 24th. Finally, StockNews.com lowered Verint Systems from a “buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.20.

Insider Transactions at Verint Systems

In related news, insider Peter Fante sold 4,417 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $36.60, for a total value of $161,662.20. Following the sale, the insider now directly owns 98,975 shares in the company, valued at $3,622,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Dan Bodner sold 375,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.76, for a total value of $12,660,000.00. Following the sale, the chief executive officer now directly owns 609,764 shares in the company, valued at $20,585,632.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Fante sold 4,417 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $36.60, for a total value of $161,662.20. Following the completion of the sale, the insider now owns 98,975 shares in the company, valued at $3,622,485. The disclosure for this sale can be found here. Insiders sold a total of 381,527 shares of company stock valued at $12,898,762 over the last 90 days. Company insiders own 1.70% of the company’s stock.

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.