RS Investment Management Co. LLC Has $35,871,000 Stake in Verint Systems Inc. (VRNT)
RS Investment Management Co. LLC raised its position in shares of Verint Systems Inc. (NASDAQ:VRNT) by 72.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,082,747 shares of the company’s stock after buying an additional 455,365 shares during the period. RS Investment Management Co. LLC’s holdings in Verint Systems were worth $35,871,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Verint Systems by 13.4% in the first quarter. Legal & General Group Plc now owns 13,979 shares of the company’s stock worth $463,000 after buying an additional 1,647 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Verint Systems by 3.4% in the first quarter. Envestnet Asset Management Inc. now owns 69,541 shares of the company’s stock worth $2,321,000 after buying an additional 2,299 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in Verint Systems during the first quarter worth $110,000. Bayesian Capital Management LP purchased a new position in Verint Systems during the first quarter worth $203,000. Finally, Royal Bank of Canada raised its position in Verint Systems by 83.5% in the first quarter. Royal Bank of Canada now owns 21,956 shares of the company’s stock worth $733,000 after buying an additional 9,988 shares during the last quarter. Hedge funds and other institutional investors own 93.83% of the company’s stock.
Verint Systems Inc. (NASDAQ:VRNT) traded up 0.66% during trading on Thursday, hitting $38.30. 675,185 shares of the stock traded hands. The firm has a 50-day moving average price of $35.89 and a 200 day moving average price of $34.63. The company’s market cap is $2.42 billion. Verint Systems Inc. has a 52-week low of $29.76 and a 52-week high of $49.70.
Verint Systems (NASDAQ:VRNT) last released its earnings results on Wednesday, September 7th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.03. The firm had revenue of $264.20 million for the quarter. Verint Systems had a negative net margin of 0.38% and a positive return on equity of 10.61%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share. On average, equities analysts expect that Verint Systems Inc. will post $2.85 EPS for the current year.
A number of research analysts recently weighed in on the stock. Deutsche Bank AG raised their price target on shares of Verint Systems from $35.00 to $37.00 and gave the company a “hold” rating in a research report on Thursday, September 8th. Zacks Investment Research lowered shares of Verint Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. Credit Suisse Group AG reissued a “sell” rating on shares of Verint Systems in a research report on Wednesday, June 29th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Verint Systems in a research report on Tuesday. Finally, Imperial Capital raised their price target on shares of Verint Systems from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, September 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. Verint Systems currently has an average rating of “Hold” and a consensus target price of $42.43.
In other news, Director Larry F. Myers sold 4,243 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $37.51, for a total value of $159,154.93. Following the sale, the director now directly owns 8,778 shares of the company’s stock, valued at approximately $329,262.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.
Verint Systems Company Profile
Verint Systems Inc offers Actionable Intelligence solutions. The Company’s Actionable Intelligence solutions address Customer Engagement Optimization, Security Intelligence, and Fraud, Risk and Compliance. It offers services, such as strategic consulting, implementation services, training, maintenance and round the clock support, as well as a range of deployment models.
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