Magnetar Financial LLC Makes New Investment in Verint Systems Inc. (NASDAQ:VRNT)

Magnetar Financial LLC bought a new position in Verint Systems Inc. (NASDAQ:VRNT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,053 shares of the technology company’s stock, valued at approximately $453,000.

A number of other institutional investors have also recently added to or reduced their stakes in VRNT. Wellington Management Group LLP acquired a new stake in Verint Systems in the fourth quarter worth approximately $34,172,000. Norges Bank acquired a new stake in Verint Systems in the fourth quarter worth approximately $18,601,000. Mesirow Institutional Investment Management Inc. acquired a new stake in Verint Systems in the first quarter worth approximately $14,675,000. Victory Capital Management Inc. lifted its position in Verint Systems by 5.9% in the second quarter. Victory Capital Management Inc. now owns 4,143,227 shares of the technology company’s stock worth $133,412,000 after purchasing an additional 232,499 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in Verint Systems by 35.1% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 814,959 shares of the technology company’s stock worth $26,242,000 after purchasing an additional 211,570 shares during the period. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Verint Systems Price Performance

Shares of NASDAQ:VRNT opened at $24.91 on Wednesday. The company’s fifty day moving average is $31.01 and its two-hundred day moving average is $31.51. 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 12-month low of $18.41 and a 12-month high of $38.17. The company has a market cap of $1.54 billion, a P/E ratio of 51.90, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24.

Verint Systems (NASDAQ:VRNT) last announced its earnings results 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). 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 last year, the firm earned $0.22 earnings per share. Verint Systems’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts expect that Verint Systems Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VRNT has been the topic of several research reports. TD Cowen dropped their price target on Verint Systems from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Verint Systems in a report on Thursday, September 5th. Jefferies Financial Group dropped their price target on Verint Systems from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating 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 report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Transactions at Verint Systems

In other news, CFO Grant A. Highlander sold 3,389 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $3,393,251.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Dan Bodner sold 16,932 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.85, for a total value of $437,692.20. Following the transaction, the chief executive officer now directly owns 592,832 shares of the company’s stock, valued at $15,324,707.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Grant A. Highlander sold 3,389 shares of the company’s stock in a transaction 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 $3,393,251.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,811 shares of company stock valued at $874,014. 1.70% of the stock is owned by insiders.

Verint Systems 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.