By otakuyassine3@gmail.com 
Verint Systems Inc. (NASDAQ:VRNT – Get Free Report) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 2,950,000 shares, a decrease of 15.7% from the December 31st total of 3,500,000 shares. Approximately 4.8% of the shares of the company are short sold. Based on an average trading volume of 838,800 shares, the days-to-cover ratio is presently 3.5 days.
Insider Transactions at Verint Systems
In other news, CFO Grant A. Highlander sold 12,880 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $29.25, for a total transaction of $376,740.00. Following the completion of the transaction, the chief financial officer now directly owns 117,137 shares of the company’s stock, valued at $3,426,257.25. This represents a 9.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Peter Fante sold 16,233 shares of Verint Systems stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $27.52, for a total transaction of $446,732.16. Following the completion of the sale, the insider now directly owns 73,314 shares in the company, valued at $2,017,601.28. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
Institutional Investors Weigh In On Verint Systems
Institutional investors have recently modified their holdings of the company. Quarry LP boosted its holdings in Verint Systems by 160.9% in the second quarter. Quarry LP now owns 793 shares of the technology company’s stock valued at $26,000 after purchasing an additional 489 shares during the period. Lingohr Asset Management GmbH lifted its position in shares of Verint Systems by 3.7% during the 3rd quarter. Lingohr Asset Management GmbH now owns 20,012 shares of the technology company’s stock worth $507,000 after purchasing an additional 712 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Verint Systems by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 35,427 shares of the technology company’s stock worth $1,141,000 after purchasing an additional 1,295 shares in the last quarter. KBC Group NV increased its holdings in Verint Systems by 75.0% in the fourth quarter. KBC Group NV now owns 3,380 shares of the technology company’s stock valued at $93,000 after buying an additional 1,449 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in Verint Systems by 29.9% in the fourth quarter. Central Pacific Bank Trust Division now owns 7,075 shares of the technology company’s stock valued at $194,000 after buying an additional 1,630 shares in the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.
Verint Systems Trading Down 1.1 %
Shares of NASDAQ VRNT traded down $0.29 during mid-day trading on Friday, reaching $25.38. 635,210 shares of the company’s stock were exchanged, compared to its average volume of 608,286. The company’s 50-day moving average is $26.60 and its 200-day moving average is $27.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 1.11 and a beta of 1.24. Verint Systems has a 52-week low of $21.27 and a 52-week high of $38.17.
Wall Street Analysts Forecast Growth
VRNT has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Verint Systems in a research report on Wednesday, January 15th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Verint Systems in a research note on Friday, January 10th. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Jefferies Financial Group lifted their price objective on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.
Check Out Our Latest Stock Analysis on VRNT
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.
Further Reading
Receive News & Ratings for Verint Systems Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Verint Systems and related companies with MarketBeat.com’s FREE daily email newsletter.