NGAM Advisors L.P. Sells 71,917 Shares of Verint Systems Inc. (NASDAQ:VRNT)
NGAM Advisors L.P. decreased its position in Verint Systems Inc. (NASDAQ:VRNT) by 62.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,009 shares of the technology company’s stock after selling 71,917 shares during the period. NGAM Advisors L.P.’s holdings in Verint Systems were worth $1,750,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Verint Systems during the fourth quarter valued at $148,000. Teachers Advisors LLC raised its position in Verint Systems by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 470,749 shares of the technology company’s stock valued at $16,594,000 after buying an additional 2,655 shares during the last quarter. Bank of Montreal Can raised its position in Verint Systems by 43.1% in the first quarter. Bank of Montreal Can now owns 3,080 shares of the technology company’s stock valued at $134,000 after buying an additional 927 shares during the last quarter. Atria Investments LLC purchased a new position in Verint Systems during the first quarter valued at $210,000. Finally, Fox Run Management L.L.C. purchased a new position in Verint Systems during the first quarter valued at $311,000. Hedge funds and other institutional investors own 97.18% of the company’s stock.
Shares of Verint Systems Inc. (NASDAQ:VRNT) opened at 38.00 on Monday. The stock’s market capitalization is $2.38 billion. The stock has a 50 day moving average of $39.58 and a 200-day moving average of $39.65. Verint Systems Inc. has a 1-year low of $33.40 and a 1-year high of $44.70.
Verint Systems (NASDAQ:VRNT) last announced its quarterly earnings results on Wednesday, June 7th. The technology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11. The firm had revenue of $265.70 million for the quarter, compared to analysts’ expectations of $259.97 million. Verint Systems had a negative net margin of 2.94% and a positive return on equity of 9.76%. Verint Systems’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. Equities research analysts predict that Verint Systems Inc. will post $2.72 earnings per share for the current fiscal year.
VRNT has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. Imperial Capital reiterated an “in-line” rating and issued a $47.00 target price (up from $45.00) on shares of Verint Systems in a report on Friday, June 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $48.00 target price (up from $44.00) on shares of Verint Systems in a report on Thursday, June 8th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of Verint Systems in a report on Friday, June 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Verint Systems presently has an average rating of “Hold” and a consensus price target of $44.38.
In other Verint Systems news, Director Richard N. Nottenburg sold 3,846 shares of Verint Systems stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $40.95, for a total transaction of $157,493.70. Following the transaction, the director now directly owns 18,178 shares of the company’s stock, valued at $744,389.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Larry F. Myers sold 3,103 shares of Verint Systems stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $41.40, for a total transaction of $128,464.20. Following the transaction, the director now directly owns 10,751 shares in the company, valued at $445,091.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,584 shares of company stock worth $393,624. 1.30% of the stock is currently owned by corporate insiders.
Verint Systems Company Profile
Verint Systems Inc offers Actionable Intelligence solutions. The Company delivers its Actionable Intelligence solutions through two operating segments: Customer Engagement Solutions and Cyber Intelligence Solutions. It is a provider of customer engagement software and services that can be deployed on-premises or in the cloud.
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