Connor Clark & Lunn Investment Management Ltd. Takes Position in Verint Systems Inc. (NASDAQ:VRNT)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Verint Systems Inc. (NASDAQ:VRNT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,825 shares of the technology company’s stock, valued at approximately $206,000.

A number of other institutional investors have also recently added to or reduced their stakes in VRNT. Northwestern Mutual Wealth Management Co. increased its stake in shares of Verint Systems by 17,200.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,038 shares of the technology company’s stock valued at $62,000 after acquiring an additional 1,032 shares in the last quarter. Quadrant Capital Group LLC grew its position in Verint Systems by 179.5% in the 1st quarter. Quadrant Capital Group LLC now owns 1,311 shares of the technology company’s stock valued at $78,000 after purchasing an additional 842 shares during the period. Insight 2811 Inc. acquired a new stake in Verint Systems in the 1st quarter valued at $237,000. Bowling Portfolio Management LLC acquired a new stake in Verint Systems in the 2nd quarter valued at $302,000. Finally, Moors & Cabot Inc. acquired a new stake in Verint Systems in the 1st quarter valued at $372,000. Hedge funds and other institutional investors own 98.86% of the company’s stock.

In other news, CFO Douglas Robinson sold 1,529 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $55.28, for a total transaction of $84,523.12. Following the completion of the transaction, the chief financial officer now owns 183,891 shares of the company’s stock, valued at $10,165,494.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dan Bodner sold 6,240 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $55.28, for a total value of $344,947.20. Following the transaction, the chief executive officer now directly owns 747,953 shares of the company’s stock, valued at approximately $41,346,841.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,690 shares of company stock worth $701,225. Company insiders own 1.40% of the company’s stock.

Verint Systems stock traded down $0.49 during midday trading on Friday, reaching $45.29. The stock had a trading volume of 403,720 shares, compared to its average volume of 700,404. Verint Systems Inc. has a 12 month low of $39.96 and a 12 month high of $63.94. The firm’s 50-day moving average price is $53.64 and its 200 day moving average price is $56.12. The firm has a market capitalization of $3.05 billion, a PE ratio of 19.52, a P/E/G ratio of 1.45 and a beta of 1.04. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 0.68.

Verint Systems (NASDAQ:VRNT) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. Verint Systems had a return on equity of 13.44% and a net margin of 4.58%. The business had revenue of $331.00 million for the quarter, compared to analysts’ expectations of $334.56 million. During the same period in the previous year, the business posted $0.76 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that Verint Systems Inc. will post 2.62 EPS for the current year.

Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Verint Systems from a “hold” rating to a “sell” rating in a research report on Friday. Jefferies Financial Group cut their price objective on shares of Verint Systems from $72.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. They noted that the move was a valuation call. Oppenheimer lifted their price objective on shares of Verint Systems from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Wedbush reaffirmed a “buy” rating and set a $70.00 price objective on shares of Verint Systems in a report on Thursday, September 5th. Finally, ValuEngine downgraded shares of Verint Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $67.67.

About Verint Systems

Verint Systems Inc provides actionable intelligence solutions worldwide. The company's Customer Engagement Solutions segment offers automated quality management, automated verification, branch surveillance and investigation, case management, chat engagement, coaching/learning, compliance recording, customer communities, desktop and process analytics, and digital feedback solutions.

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Institutional Ownership by Quarter for Verint Systems (NASDAQ:VRNT)

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