William Blair Investment Management LLC Lowers Stake in Verint Systems Inc. $VRNT

William Blair Investment Management LLC cut its position in shares of Verint Systems Inc. (NASDAQ:VRNT) by 7.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,244,068 shares of the technology company’s stock after selling 102,133 shares during the quarter. William Blair Investment Management LLC’s holdings in Verint Systems were worth $24,471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Verint Systems by 29.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 224,963 shares of the technology company’s stock worth $4,182,000 after buying an additional 51,487 shares in the last quarter. CWM LLC grew its holdings in shares of Verint Systems by 552.0% during the second quarter. CWM LLC now owns 20,552 shares of the technology company’s stock worth $404,000 after buying an additional 17,400 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Verint Systems by 19.8% in the second quarter. Janney Montgomery Scott LLC now owns 45,480 shares of the technology company’s stock worth $895,000 after acquiring an additional 7,513 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Verint Systems by 6.9% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 898,328 shares of the technology company’s stock worth $17,670,000 after acquiring an additional 57,939 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of Verint Systems in the second quarter worth approximately $3,308,000. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRNT has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Verint Systems in a research report on Wednesday, October 8th. Rosenblatt Securities cut shares of Verint Systems from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $20.50 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 from $29.00) on shares of Verint Systems in a research report on Tuesday, August 26th. Needham & Company LLC cut shares of Verint Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 25th. Finally, Wedbush cut shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.33.

Verint Systems Stock Up 0.0%

Shares of VRNT stock opened at $20.24 on Monday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 0.88 and a beta of 1.50. Verint Systems Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $34.80. The firm’s 50 day moving average price is $20.17 and its two-hundred day moving average price is $19.11.

Verint Systems (NASDAQ:VRNT) last announced its quarterly earnings results on Tuesday, September 2nd. The technology company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $165.52 million for the quarter, compared to analysts’ expectations of $200.43 million. Verint Systems had a net margin of 6.87% and a return on equity of 11.06%. Verint Systems’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. On average, equities analysts forecast that Verint Systems Inc. will post 1.92 EPS for the current fiscal year.

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.