Cornercap Investment Counsel Inc. Sells 7,900 Shares of Verint Systems Inc. (NASDAQ:VRNT)

Cornercap Investment Counsel Inc. lessened its stake in shares of Verint Systems Inc. (NASDAQ:VRNT) by 49.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,135 shares of the technology company’s stock after selling 7,900 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Verint Systems were worth $206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP grew its stake in shares of Verint Systems by 160.9% during the second quarter. Quarry LP now owns 793 shares of the technology company’s stock worth $26,000 after buying an additional 489 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Verint Systems during the second quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Verint Systems during the second quarter worth $43,000. SG Americas Securities LLC acquired a new stake in Verint Systems in the first quarter valued at $128,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Verint Systems during the 2nd quarter worth $138,000. Institutional investors own 94.95% of the company’s stock.

Insider Transactions at Verint Systems

In other Verint Systems news, President Elan Moriah sold 7,160 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.85, for a total transaction of $185,086.00. Following the completion of the sale, the president now 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 the SEC website. Also, CFO Grant A. Highlander sold 3,389 shares of Verint Systems stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.85, for a total transaction of $87,605.65. Following the completion of the sale, the chief financial officer now owns 131,267 shares in the company, valued at approximately $3,393,251.95. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,811 shares of company stock worth $874,014. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VRNT. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of Verint Systems in a research note on Thursday, September 26th. Jefferies Financial Group cut their target price on shares of Verint Systems from $32.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. TD Cowen dropped their price objective on shares of Verint Systems from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, Evercore ISI dropped their price target 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.67.

Verint Systems Trading Down 0.9 %

Shares of Verint Systems stock opened at $23.26 on Tuesday. The company’s 50-day moving average price is $23.92 and its 200-day moving average price is $29.47. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.49. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 0.99 and a beta of 1.25. Verint Systems Inc. has a 12-month low of $21.27 and a 12-month high of $38.17.

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

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.