Clal Insurance Enterprises Holdings Ltd Decreases Stake in Verint Systems Inc. (VRNT)
Clal Insurance Enterprises Holdings Ltd decreased its stake in Verint Systems Inc. (NASDAQ:VRNT) by 22.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 365,161 shares of the technology company’s stock after selling 108,424 shares during the period. Clal Insurance Enterprises Holdings Ltd owned about 0.58% of Verint Systems worth $14,862,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank increased its position in Verint Systems by 3.4% in the first quarter. Swiss National Bank now owns 104,100 shares of the technology company’s stock valued at $4,515,000 after buying an additional 3,400 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Verint Systems during the first quarter valued at about $331,000. Vista Equity Partners Management LLC purchased a new position in Verint Systems during the first quarter valued at about $15,743,000. Fisher Asset Management LLC increased its position in Verint Systems by 2.9% in the second quarter. Fisher Asset Management LLC now owns 2,127,041 shares of the technology company’s stock valued at $86,571,000 after buying an additional 60,275 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in Verint Systems during the first quarter valued at about $19,108,000. 94.65% of the stock is owned by institutional investors and hedge funds.
Shares of Verint Systems Inc. (NASDAQ:VRNT) opened at 39.80 on Friday. The stock’s market cap is $2.49 billion. Verint Systems Inc. has a 52-week low of $33.40 and a 52-week high of $44.70. The company’s 50-day moving average price is $38.84 and its 200-day moving average price is $39.82.
Verint Systems (NASDAQ:VRNT) last announced its earnings results on Wednesday, June 7th. The technology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.38 by $0.11. Verint Systems had a positive return on equity of 9.76% and a negative net margin of 2.94%. The business had revenue of $265.70 million during the quarter, compared to the consensus estimate of $259.97 million. During the same period in the prior year, the business posted $0.46 earnings per share. Verint Systems’s revenue was up 6.7% compared to the same quarter last year. Analysts expect that Verint Systems Inc. will post $2.72 earnings per share for the current year.
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Several research analysts have recently issued reports on VRNT shares. Zacks Investment Research downgraded Verint Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $50.00 price objective (up previously from $48.00) on shares of Verint Systems in a research report on Friday, June 9th. Royal Bank Of Canada reiterated a “buy” rating and set a $48.00 price objective on shares of Verint Systems in a research report on Tuesday, August 15th. Finally, Imperial Capital reiterated an “in-line” rating and set a $47.00 price objective (up previously from $45.00) on shares of Verint Systems in a research report on Friday, June 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.38.
In other news, Director Larry F. Myers sold 3,103 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $41.40, for a total transaction of $128,464.20. Following the completion of the sale, the director now directly owns 10,751 shares of the company’s stock, valued at $445,091.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard N. Nottenburg sold 3,846 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $40.95, for a total value of $157,493.70. Following the sale, the director now directly owns 18,178 shares of the company’s stock, valued at $744,389.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,584 shares of company stock valued at $393,624. 1.30% of the stock is currently owned by company insiders.
About Verint Systems
Verint Systems Inc offers Actionable Intelligence solutions. The Company delivers its Actionable Intelligence solutions through two operating segments: Customer Engagement Solutions and Cyber Intelligence Solutions. It is a provider of customer engagement software and services that can be deployed on-premises or in the cloud.
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