California State Teachers Retirement System Decreases Stake in Verint Systems Inc. (NASDAQ:VRNT)

California State Teachers Retirement System cut its position in shares of Verint Systems Inc. (NASDAQ:VRNT) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,870 shares of the technology company’s stock after selling 2,317 shares during the period. California State Teachers Retirement System’s holdings in Verint Systems were worth $5,918,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Strs Ohio raised its stake in shares of Verint Systems by 39.6% in the fourth quarter. Strs Ohio now owns 6,700 shares of the technology company’s stock worth $283,000 after purchasing an additional 1,900 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Verint Systems during the fourth quarter worth $28,000. Xact Kapitalforvaltning AB raised its position in shares of Verint Systems by 37.4% in the fourth quarter. Xact Kapitalforvaltning AB now owns 13,588 shares of the technology company’s stock worth $575,000 after buying an additional 3,700 shares in the last quarter. Rhumbline Advisers raised its position in shares of Verint Systems by 44.6% in the fourth quarter. Rhumbline Advisers now owns 95,782 shares of the technology company’s stock worth $4,053,000 after buying an additional 29,552 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Verint Systems by 160.2% in the fourth quarter. SG Americas Securities LLC now owns 45,032 shares of the technology company’s stock worth $1,905,000 after buying an additional 27,726 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors.

Verint Systems stock opened at $56.87 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.45 and a current ratio of 1.50. Verint Systems Inc. has a 1-year low of $39.96 and a 1-year high of $63.94. The stock has a market capitalization of $3.72 billion, a P/E ratio of 24.51, a PEG ratio of 1.75 and a beta of 1.15.

Verint Systems (NASDAQ:VRNT) last issued its earnings results on Wednesday, May 29th. The technology company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. Verint Systems had a net margin of 5.56% and a return on equity of 13.60%. The business had revenue of $324.16 million for the quarter, compared to the consensus estimate of $317.97 million. During the same period in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Verint Systems Inc. will post 2.69 EPS for the current fiscal year.

In other news, insider Elan Moriah sold 5,514 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $63.20, for a total transaction of $348,484.80. Following the transaction, the insider now directly owns 82,108 shares in the company, valued at $5,189,225.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Douglas Robinson sold 8,252 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $62.46, for a total transaction of $515,419.92. Following the transaction, the chief financial officer now owns 169,078 shares in the company, valued at $10,560,611.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,724 shares of company stock worth $6,756,296. Insiders own 1.40% of the company’s stock.

A number of brokerages have recently issued reports on VRNT. BidaskClub cut Verint Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Oppenheimer lifted their price objective on Verint Systems from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. TheStreet raised Verint Systems from a “c+” rating to a “b+” rating in a research report on Tuesday, February 19th. Jefferies Financial Group lifted their target price on shares of Verint Systems from $53.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Imperial Capital lifted their target price on shares of Verint Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, March 29th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $65.57.

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Verint Systems Profile

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.

Further Reading: What is the Current Ratio?

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

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