Seven Eight Capital LP Acquires New Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Seven Eight Capital LP purchased a new stake in shares of Verint Systems Inc. (NASDAQ:VRNT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,329 shares of the technology company’s stock, valued at approximately $300,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Verint Systems by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 616,463 shares of the technology company’s stock valued at $16,663,000 after purchasing an additional 24,952 shares during the last quarter. Nomura Holdings Inc. grew its stake in shares of Verint Systems by 565.7% in the fourth quarter. Nomura Holdings Inc. now owns 58,250 shares of the technology company’s stock valued at $1,574,000 after buying an additional 49,500 shares in the last quarter. Norges Bank purchased a new stake in shares of Verint Systems in the 4th quarter valued at $18,601,000. Vanguard Group Inc. lifted its stake in Verint Systems by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,182,580 shares of the technology company’s stock worth $194,145,000 after acquiring an additional 73,592 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Verint Systems during the 4th quarter worth about $34,172,000. 94.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VRNT. Evercore ISI cut their price target on shares of 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. 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. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Verint Systems in a research note on Thursday, September 5th. Finally, Jefferies Financial Group lowered their target price on Verint Systems from $32.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Buying and Selling at Verint Systems

In other news, President Elan Moriah sold 7,160 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.85, for a total value of $185,086.00. Following the completion of the sale, the president now directly owns 139,251 shares of the company’s stock, valued at approximately $3,599,638.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Elan Moriah sold 7,160 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 value of $185,086.00. Following the transaction, the president now directly owns 139,251 shares of the company’s stock, valued at approximately $3,599,638.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Fante sold 6,330 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.85, for a total transaction of $163,630.50. Following the sale, the insider now owns 91,334 shares of the company’s stock, valued at approximately $2,360,983.90. The disclosure for this sale can be found here. Insiders sold 33,811 shares of company stock worth $874,014 over the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Verint Systems Price Performance

Verint Systems stock opened at $25.09 on Monday. 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 fifty day simple moving average of $31.33 and a 200-day simple moving average of $31.59. The stock has a market cap of $1.55 billion, a P/E ratio of 52.27, a price-to-earnings-growth ratio of 1.12 and a beta of 1.24. Verint Systems Inc. has a 12-month low of $18.41 and a 12-month high of $38.17.

Verint Systems (NASDAQ:VRNT) last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The business had revenue of $210.17 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 earnings per share. Equities 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.