Massachusetts Financial Services Co. MA Sells 383,823 Shares of Verint Systems Inc. (NASDAQ:VRNT)

Massachusetts Financial Services Co. MA lowered its stake in Verint Systems Inc. (NASDAQ:VRNT) by 31.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 850,847 shares of the technology company’s stock after selling 383,823 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.37% of Verint Systems worth $21,552,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. 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 buying an additional 185,105 shares during the period. Victory Capital Management Inc. raised its stake in Verint Systems by 5.9% during the 2nd quarter. Victory Capital Management Inc. now owns 4,143,227 shares of the technology company’s stock valued at $133,412,000 after purchasing an additional 232,499 shares during the period. Dimensional Fund Advisors LP raised its stake in Verint Systems by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,925 shares of the technology company’s stock valued at $61,792,000 after purchasing an additional 73,441 shares during the period. Global Alpha Capital Management Ltd. raised its stake in Verint Systems by 22.6% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 1,231,703 shares of the technology company’s stock valued at $31,199,000 after purchasing an additional 227,000 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in Verint Systems by 35.1% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 814,959 shares of the technology company’s stock valued at $26,242,000 after purchasing an additional 211,570 shares during the period. Institutional investors own 94.95% of the company’s stock.

Verint Systems Trading Up 1.6 %

Shares of NASDAQ VRNT opened at $24.82 on Tuesday. The firm has a market cap of $1.54 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 1.03 and a beta of 1.25. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 0.49. Verint Systems Inc. has a twelve month low of $21.27 and a twelve month high of $38.17. The business has a fifty day simple moving average of $23.72 and a two-hundred day simple moving average of $29.20.

Verint Systems (NASDAQ:VRNT) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $210.17 million during the quarter, compared to the consensus estimate of $212.81 million. Verint Systems had a return on equity of 16.17% and a net margin of 6.78%. The company’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. Analysts expect that Verint Systems Inc. will post 1.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on VRNT shares. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of Verint Systems in a research note on Wednesday, September 25th. TD Cowen decreased their target price on Verint Systems from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Evercore ISI decreased their target price on Verint Systems from $34.00 to $30.00 and set an “in-line” rating on the stock in a research note on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Verint Systems in a research note on Thursday, September 5th. Finally, StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.67.

Insider Transactions at Verint Systems

In related news, President Elan Moriah sold 7,160 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.85, for a total transaction of $185,086.00. Following the transaction, the president now directly owns 139,251 shares of the company’s stock, valued at $3,599,638.35. This represents a 4.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Grant A. Highlander sold 3,389 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.85, for a total value of $87,605.65. Following the transaction, the chief financial officer now directly owns 131,267 shares in the company, valued at $3,393,251.95. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,811 shares of company stock valued at $874,014. Corporate insiders own 1.70% of the company’s stock.

About Verint Systems

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.