Wellington Management Group LLP Decreases Holdings in Verint Systems Inc. (NASDAQ:VRNT)

Wellington Management Group LLP trimmed its holdings in shares of Verint Systems Inc. (NASDAQ:VRNT) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,881,316 shares of the technology company’s stock after selling 26,109 shares during the period. Wellington Management Group LLP’s holdings in Verint Systems were worth $72,984,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its position in Verint Systems by 1.5% during the 3rd quarter. State Street Corp now owns 1,573,801 shares of the technology company’s stock worth $39,864,000 after purchasing an additional 23,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Verint Systems by 18.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,858 shares of the technology company’s stock worth $376,000 after buying an additional 2,272 shares in the last quarter. FORA Capital LLC acquired a new position in Verint Systems in the 3rd quarter worth $300,000. Westport Asset Management Inc. lifted its holdings in Verint Systems by 28.6% in the 3rd quarter. Westport Asset Management Inc. now owns 22,500 shares of the technology company’s stock worth $570,000 after buying an additional 5,000 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Verint Systems by 141.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 151,266 shares of the technology company’s stock worth $3,832,000 after buying an additional 88,616 shares in the last quarter. 94.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Grant A. Highlander sold 3,389 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 $87,605.65. Following the sale, the chief financial officer now owns 131,267 shares in the company, valued at $3,393,251.95. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dan Bodner sold 16,932 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.85, for a total transaction of $437,692.20. Following the sale, the chief executive officer now owns 592,832 shares in the company, valued at approximately $15,324,707.20. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,811 shares of company stock worth $874,014 over the last quarter. 1.70% of the stock is owned by company insiders.

Verint Systems Price Performance

VRNT opened at $30.05 on Wednesday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.28. Verint Systems Inc. has a fifty-two week low of $21.27 and a fifty-two week high of $38.17. The company’s 50-day moving average price is $24.07 and its 200 day moving average price is $28.84. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47.

Analyst Upgrades and Downgrades

VRNT has been the topic of a number of recent analyst reports. TD Cowen cut their price objective on shares of Verint Systems from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Jefferies Financial Group boosted their price objective on shares of Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Verint Systems in a report on Thursday, December 5th. Evercore ISI cut their target price on shares of Verint Systems from $34.00 to $30.00 and set an “in-line” rating on the stock in a research note on Thursday, September 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Verint Systems in a research note on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.67.

About Verint Systems

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.