Wellington Management Group LLP Sells 1,103,431 Shares of Verint Systems Inc. (NASDAQ:VRNT)

Wellington Management Group LLP cut its holdings in Verint Systems Inc. (NASDAQ:VRNT) by 38.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,777,885 shares of the technology company’s stock after selling 1,103,431 shares during the period. Wellington Management Group LLP’s holdings in Verint Systems were worth $48,803,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of VRNT. State Street Corp grew its position in shares of Verint Systems by 1.5% in the 3rd quarter. State Street Corp now owns 1,573,801 shares of the technology company’s stock worth $39,864,000 after buying an additional 23,400 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Verint Systems in the fourth quarter valued at $5,276,000. Geode Capital Management LLC increased its position in Verint Systems by 0.3% during 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. Quantbot Technologies LP bought a new position in Verint Systems in the 3rd quarter worth $58,000. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in Verint Systems by 32.4% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 775,869 shares of the technology company’s stock worth $21,298,000 after purchasing an additional 189,860 shares in the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VRNT. Evercore ISI cut their target price on shares of Verint Systems from $34.00 to $23.00 and set an “in-line” rating on the stock in a research note on Thursday, March 27th. StockNews.com downgraded Verint Systems from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Wedbush lowered their target price on Verint Systems from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, March 28th. Royal Bank of Canada dropped their price target on Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, March 27th. Finally, Needham & Company LLC lowered their price objective on Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Verint Systems currently has a consensus rating of “Moderate Buy” and an average price target of $30.33.

Verint Systems Stock Down 4.9 %

Shares of NASDAQ:VRNT opened at $15.20 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $22.94 and a two-hundred day simple moving average of $24.36. Verint Systems Inc. has a 12-month low of $14.16 and a 12-month high of $38.17. The stock has a market capitalization of $944.50 million, a price-to-earnings ratio of 16.17, a PEG ratio of 0.97 and a beta of 1.29.

Verint Systems (NASDAQ:VRNT) last announced its quarterly earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). The firm had revenue of $253.50 million during the quarter, compared to the consensus estimate of $276.82 million. Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 EPS. On average, research analysts anticipate that Verint Systems Inc. will post 1.92 earnings per share for the current fiscal year.

Verint Systems Company 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.