JPMorgan Chase & Co. lessened its holdings in shares of Verint Systems Inc. (NASDAQ:VRNT – Free Report) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 290,763 shares of the technology company’s stock after selling 19,774 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.47% of Verint Systems worth $7,365,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp boosted its position in Verint Systems by 1.5% during the 3rd quarter. State Street Corp now owns 1,573,801 shares of the technology company’s stock valued at $39,864,000 after acquiring an additional 23,400 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its stake in shares of Verint Systems by 22.6% in 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. Geode Capital Management LLC lifted its stake in shares of Verint Systems by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,500,087 shares of the technology company’s stock valued at $38,004,000 after purchasing an additional 4,034 shares during the period. L & S Advisors Inc bought a new stake in shares of Verint Systems during the second quarter valued at approximately $1,603,000. Finally, Quantbot Technologies LP purchased a new stake in Verint Systems in the third quarter worth $58,000. Hedge funds and other institutional investors own 94.95% of the company’s stock.
Analysts Set New Price Targets
VRNT has been the subject of a number of analyst reports. Jefferies Financial Group raised their target price on shares of Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Wedbush reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Verint Systems in a research report on Thursday, September 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Verint Systems in a report on Thursday, December 5th. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a report on Monday, January 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Verint Systems in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.
Verint Systems Stock Up 3.9 %
NASDAQ:VRNT opened at $25.88 on Wednesday. Verint Systems Inc. has a 1-year low of $21.27 and a 1-year high of $38.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28. The firm has a market cap of $1.61 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.25 and a beta of 1.24. The company has a 50-day moving average of $26.27 and a 200 day moving average of $27.81.
Insider Buying and Selling
In other Verint Systems news, insider Peter Fante sold 16,233 shares of Verint Systems stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $27.52, for a total transaction of $446,732.16. Following the completion of the sale, the insider now owns 73,314 shares of the company’s stock, valued at approximately $2,017,601.28. The trade was a 18.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Grant A. Highlander sold 12,880 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $29.25, for a total transaction of $376,740.00. Following the transaction, the chief financial officer now directly owns 117,137 shares of the company’s stock, valued at $3,426,257.25. This represents a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company 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.
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