Phocas Financial Corp. Cuts Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Phocas Financial Corp. cut its stake in shares of Verint Systems Inc. (NASDAQ:VRNT) by 5.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 182,905 shares of the technology company’s stock after selling 11,509 shares during the period. Phocas Financial Corp. owned about 0.29% of Verint Systems worth $4,633,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Verint Systems by 46.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 104,984 shares of the technology company’s stock worth $3,481,000 after purchasing an additional 33,303 shares during the last quarter. Acadian Asset Management LLC increased its stake in Verint Systems by 4,185,900.0% during the 2nd quarter. Acadian Asset Management LLC now owns 41,860 shares of the technology company’s stock worth $1,345,000 after buying an additional 41,859 shares in the last quarter. L & S Advisors Inc acquired a new position in shares of Verint Systems during the second quarter valued at approximately $1,603,000. Vanguard Group Inc. lifted its position in shares of Verint Systems by 2.6% in the first quarter. Vanguard Group Inc. now owns 7,367,685 shares of the technology company’s stock valued at $244,239,000 after acquiring an additional 185,105 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of Verint Systems by 572.8% in the first quarter. Comerica Bank now owns 44,694 shares of the technology company’s stock worth $1,482,000 after acquiring an additional 38,051 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Verint Systems Price Performance

VRNT opened at $23.26 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 0.99 and a beta of 1.25. The stock’s 50-day moving average price is $23.92 and its 200 day moving average price is $29.47. Verint Systems Inc. has a 12-month low of $21.27 and a 12-month high of $38.17.

Verint Systems (NASDAQ:VRNT) last released its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The business had revenue of $210.17 million during the quarter, compared to analysts’ expectations of $212.81 million. Verint Systems had a net margin of 6.78% and a return on equity of 16.17%. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. As a group, sell-side analysts expect that Verint Systems Inc. will post 1.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Jefferies Financial Group reduced their price objective on Verint Systems from $32.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. TD Cowen reduced their target price on shares of Verint Systems from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Verint Systems in a research note on Thursday, September 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective on shares of Verint Systems in a research note on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.67.

Insider Buying and Selling at Verint Systems

In related news, CFO Grant A. Highlander sold 3,389 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.85, for a total value of $87,605.65. Following the sale, the chief financial officer now directly owns 131,267 shares in the company, valued at $3,393,251.95. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter Fante sold 6,330 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.85, for a total transaction of $163,630.50. Following the completion of the sale, the insider now directly owns 91,334 shares in the company, valued at approximately $2,360,983.90. The trade was a 6.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,811 shares of company stock valued at $874,014. Corporate insiders own 1.70% of the company’s stock.

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.