Massachusetts Financial Services Co. MA Lowers Stock Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Massachusetts Financial Services Co. MA cut its holdings in Verint Systems Inc. (NASDAQ:VRNT) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,234,670 shares of the technology company’s stock after selling 11,816 shares during the period. Massachusetts Financial Services Co. MA owned 2.00% of Verint Systems worth $39,756,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in VRNT. Charles Schwab Investment Management Inc. lifted its position in Verint Systems by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 616,463 shares of the technology company’s stock worth $16,663,000 after buying an additional 24,952 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Verint Systems by 210.0% during the 4th quarter. Teacher Retirement System of Texas now owns 27,894 shares of the technology company’s stock valued at $754,000 after acquiring an additional 18,895 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Verint Systems during the 4th quarter worth about $980,000. Brown Advisory Inc. acquired a new stake in shares of Verint Systems in the fourth quarter worth approximately $292,000. Finally, Norges Bank purchased a new stake in Verint Systems in the fourth quarter valued at approximately $18,601,000. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Wall Street Analyst Weigh In

VRNT has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price target 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 reduced their target price on Verint Systems from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of Verint Systems in a report on Thursday, September 5th. Finally, Evercore ISI dropped their target price on shares of Verint Systems from $34.00 to $30.00 and set an “in-line” rating for the company in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Buying and Selling

In other Verint Systems news, CFO Grant A. Highlander sold 3,389 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was 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. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Grant A. Highlander sold 3,389 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.85, for a total transaction of $87,605.65. Following the completion of the transaction, the chief financial officer now directly owns 131,267 shares in the company, valued at approximately $3,393,251.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Elan Moriah sold 7,160 shares of Verint Systems stock in a transaction on Monday, September 16th. The stock was 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 approximately $3,599,638.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,811 shares of company stock worth $874,014. 1.70% of the stock is currently owned by corporate insiders.

Verint Systems Stock Performance

Verint Systems stock opened at $26.10 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.36 and a current ratio of 1.41. Verint Systems Inc. has a one year low of $18.41 and a one year high of $38.17. The stock’s 50 day moving average price is $31.58 and its 200 day moving average price is $31.66. The firm has a market capitalization of $1.62 billion, a PE ratio of 54.42, a price-to-earnings-growth ratio of 1.12 and a beta of 1.24.

Verint Systems (NASDAQ:VRNT) last released its quarterly earnings results 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). Verint Systems had a net margin of 6.78% and a return on equity of 16.17%. The firm had revenue of $210.17 million for the quarter, compared to analyst estimates of $212.81 million. During the same period in the previous year, the business posted $0.22 earnings per share. Verint Systems’s revenue for the quarter was up .0% on a year-over-year basis. As a group, sell-side analysts expect that Verint Systems Inc. will post 1.97 EPS for the current fiscal year.

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.