Verint Systems Inc. (NASDAQ:VRNT) Shares Purchased by Comerica Bank

Comerica Bank boosted its stake in shares of Verint Systems Inc. (NASDAQ:VRNT) by 7.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 63,006 shares of the technology company’s stock after acquiring an additional 4,558 shares during the period. Comerica Bank owned about 0.10% of Verint Systems worth $1,730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VRNT. Plato Investment Management Ltd purchased a new stake in shares of Verint Systems during the fourth quarter worth approximately $43,000. Parkside Financial Bank & Trust acquired a new stake in Verint Systems during the 4th quarter worth $52,000. Headlands Technologies LLC purchased a new stake in shares of Verint Systems during the fourth quarter worth $52,000. Sterling Capital Management LLC raised its position in shares of Verint Systems by 808.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company’s stock valued at $53,000 after buying an additional 1,713 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Verint Systems by 45.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock worth $54,000 after buying an additional 613 shares in the last quarter. 94.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on VRNT. Wedbush cut their price objective on shares of Verint Systems from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, March 28th. Royal Bank of Canada cut their price target on Verint Systems from $36.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, March 27th. StockNews.com lowered Verint Systems from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Evercore ISI cut their target price on Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a research note on Thursday, March 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Verint Systems in a research report on Friday, April 25th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

Verint Systems Price Performance

NASDAQ:VRNT opened at $17.90 on Friday. Verint Systems Inc. has a 52 week low of $14.15 and a 52 week high of $38.17. The stock’s fifty day moving average is $18.44 and its two-hundred day moving average is $22.99. The company has a market capitalization of $1.11 billion, a P/E ratio of 19.04, a P/E/G ratio of 0.97 and a beta of 1.45. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47.

Verint Systems (NASDAQ:VRNT) last posted its earnings results on Wednesday, March 26th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The company had revenue of $253.50 million during the quarter, compared to analyst estimates of $276.82 million. During the same period in the previous year, the company earned $1.07 EPS. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities analysts expect that Verint Systems Inc. will post 1.92 EPS for the current year.

Insider Buying and Selling

In other news, insider Peter Fante sold 9,439 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $16.50, for a total transaction of $155,743.50. Following the sale, the insider now owns 20,450 shares of the company’s stock, valued at approximately $337,425. This represents a 31.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen J. Gold sold 2,744 shares of Verint Systems stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $16.07, for a total transaction of $44,096.08. Following the completion of the transaction, the director now owns 28,473 shares of the company’s stock, valued at $457,561.11. This trade represents a 8.79 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Verint Systems Company 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.