Palouse Capital Management Inc. Decreases Stock Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Palouse Capital Management Inc. reduced its position in Verint Systems Inc. (NASDAQ:VRNT) by 35.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,142 shares of the technology company’s stock after selling 1,202 shares during the period. Palouse Capital Management Inc.’s holdings in Verint Systems were worth $69,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trexquant Investment LP purchased a new position in Verint Systems in the fourth quarter worth $3,352,000. Charles Schwab Investment Management Inc. grew its stake in Verint Systems by 4.2% during the 4th 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 last quarter. Nomura Holdings Inc. increased its position in Verint Systems by 565.7% during the 4th 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 acquired a new stake in Verint Systems in the fourth quarter worth about $18,601,000. Finally, Vanguard Group Inc. boosted its holdings in Verint Systems by 1.0% in the fourth 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. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Verint Systems Price Performance

Shares of VRNT opened at $26.20 on Thursday. The business’s 50-day moving average is $31.67 and its two-hundred day moving average is $31.70. The company has a market capitalization of $1.62 billion, a P/E ratio of 54.58, a P/E/G ratio of 1.12 and a beta of 1.24. Verint Systems Inc. has a fifty-two week low of $18.41 and a fifty-two week high of $38.17. 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 (NASDAQ:VRNT) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.49 earnings per share 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 company had revenue of $210.17 million for the quarter, compared to analysts’ expectations of $212.81 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. Research analysts predict that Verint Systems Inc. will post 1.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on VRNT shares. TD Cowen decreased their price objective on shares of Verint Systems from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Jefferies Financial Group dropped their price objective on shares of Verint Systems from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Verint Systems in a research report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Verint Systems in a research report on Thursday, September 5th. Finally, Evercore ISI cut their price objective 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 stock. Based on data from MarketBeat, Verint Systems currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Insider Activity at Verint Systems

In other Verint Systems news, 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 value of $87,605.65. Following the completion of the transaction, the chief financial officer now owns 131,267 shares of the company’s stock, valued at $3,393,251.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Dan Bodner sold 16,932 shares of the company’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 $437,692.20. Following the completion of the transaction, the chief executive officer now directly owns 592,832 shares of the company’s stock, valued at approximately $15,324,707.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Grant A. Highlander sold 3,389 shares of the stock in a transaction that occurred 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 owns 131,267 shares in the company, valued at approximately $3,393,251.95. The disclosure for this sale can be found here. Insiders sold a total of 33,811 shares of company stock worth $874,014 in the last three months. Company insiders own 1.70% of the company’s stock.

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.