SG Capital Management LLC Makes New $9.06 Million Investment in Verint Systems Inc. $VRNT

SG Capital Management LLC acquired a new position in Verint Systems Inc. (NASDAQ:VRNT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 460,774 shares of the technology company’s stock, valued at approximately $9,063,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Strs Ohio bought a new position in Verint Systems in the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd raised its holdings in Verint Systems by 2,180.6% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,642 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,570 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Verint Systems in the first quarter valued at about $40,000. Parkside Financial Bank & Trust boosted its stake in shares of Verint Systems by 30.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,606 shares of the technology company’s stock worth $51,000 after acquiring an additional 613 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Verint Systems during the first quarter worth about $94,000. 94.95% of the stock is currently owned by institutional investors.

Verint Systems Stock Performance

Shares of VRNT opened at $20.31 on Friday. The company’s fifty day moving average is $20.28 and its 200 day moving average is $19.66. Verint Systems Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $34.80. The stock has a market capitalization of $1.23 billion, a PE ratio of 28.61, a P/E/G ratio of 0.89 and a beta of 1.52.

Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings data on Tuesday, September 2nd. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Verint Systems had a net margin of 6.87% and a return on equity of 11.06%. The business had revenue of $165.52 million during the quarter, compared to analysts’ expectations of $200.43 million. During the same period last year, the company posted $0.49 EPS. The business’s revenue was down 1.0% on a year-over-year basis. As a group, research analysts forecast that Verint Systems Inc. will post 1.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on VRNT shares. Rosenblatt Securities cut Verint Systems from a “buy” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $20.50 in a report on Monday, August 25th. TD Cowen cut shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.50 target price (down previously from $29.00) on shares of Verint Systems in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Verint Systems in a research note on Wednesday, October 8th. Finally, Wedbush cut shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.33.

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.