Legal & General Group Plc grew its position in shares of Verint Systems Inc. (NASDAQ:VRNT) by 27.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 208,348 shares of the technology company’s stock after purchasing an additional 44,319 shares during the quarter. Legal & General Group Plc’s holdings in Verint Systems were worth $9,240,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Sun Life Financial INC purchased a new position in Verint Systems during the 2nd quarter worth $205,000. Martingale Asset Management L P boosted its holdings in Verint Systems by 1.3% during the 2nd quarter. Martingale Asset Management L P now owns 178,782 shares of the technology company’s stock worth $7,929,000 after acquiring an additional 2,306 shares during the last quarter. US Bancorp DE boosted its holdings in Verint Systems by 9.1% during the 2nd quarter. US Bancorp DE now owns 47,068 shares of the technology company’s stock worth $2,088,000 after acquiring an additional 3,907 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Verint Systems by 24.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 600,691 shares of the technology company’s stock worth $26,641,000 after acquiring an additional 118,185 shares during the last quarter. Finally, Systematic Financial Management LP boosted its holdings in Verint Systems by 1.8% during the 2nd quarter. Systematic Financial Management LP now owns 439,419 shares of the technology company’s stock worth $19,488,000 after acquiring an additional 7,671 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.
Shares of NASDAQ:VRNT opened at $48.05 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $3.17 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.19 and a beta of 1.08. Verint Systems Inc. has a fifty-two week low of $37.10 and a fifty-two week high of $52.45.
Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings results on Wednesday, September 5th. The technology company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.14. The company had revenue of $306.30 million for the quarter, compared to the consensus estimate of $295.84 million. Verint Systems had a net margin of 3.29% and a return on equity of 11.69%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. analysts expect that Verint Systems Inc. will post 2.23 EPS for the current year.
A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Verint Systems from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. They noted that the move was a valuation call. BidaskClub raised shares of Verint Systems from a “strong sell” rating to a “sell” rating in a report on Saturday, May 26th. Imperial Capital raised shares of Verint Systems from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $47.00 to $49.50 in a report on Thursday, May 31st. Zacks Investment Research downgraded shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 9th. Finally, ValuEngine downgraded shares of Verint Systems from a “buy” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $54.30.
In related news, Director Richard N. Nottenburg sold 5,000 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $48.75, for a total value of $243,750.00. Following the transaction, the director now directly owns 27,310 shares of the company’s stock, valued at approximately $1,331,362.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dan Bodner sold 61,298 shares of the business’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $48.66, for a total transaction of $2,982,760.68. Following the completion of the transaction, the chief executive officer now directly owns 663,615 shares in the company, valued at $32,291,505.90. The disclosure for this sale can be found here. Insiders sold a total of 103,199 shares of company stock worth $5,029,683 over the last three months. 1.40% of the stock is owned by insiders.
Verint Systems Profile
Verint Systems Inc provides actionable intelligence solutions and value-added services worldwide. Its Customer Engagement Solutions segment provides automated quality management, automated verification, branch surveillance and investigation, case management, chat engagement, coaching/learning, compliance recording, customer communities, desktop and process analytics, digital feedback, email engagement, employee desktop, enterprise feedback, financial compliance, full-time recording, gamification, identity analytics, internal communities, knowledge management, mobile workforce, performance management, robotic process automation, social analytics, speech and text analytics, virtual assistant, voice self-service, voice self-service fraud detection, Web/mobile self-service, work manager, and workforce management solutions.
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