An issue of Verint Systems Inc. (NASDAQ:VRNT) debt fell 0.8% as a percentage of its face value during trading on Wednesday. The high-yield debt issue has a 1.5% coupon and will mature on June 1, 2021. The bonds in the issue are now trading at $97.00 and were trading at $98.18 last week. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
VRNT has been the subject of several recent research reports. Zacks Investment Research downgraded Verint Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $48.00 target price (up from $44.00) on shares of Verint Systems in a report on Thursday, June 8th. Imperial Capital reiterated an “in-line” rating and issued a $47.00 target price (up from $45.00) on shares of Verint Systems in a report on Friday, June 9th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of Verint Systems in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $44.38.
Verint Systems Inc. (NASDAQ VRNT) traded up 0.13% during trading on Friday, hitting $39.70. 251,040 shares of the stock traded hands. Verint Systems Inc. has a 12 month low of $33.40 and a 12 month high of $44.70. The company’s 50 day moving average price is $40.40 and its 200 day moving average price is $39.60. The company’s market cap is $2.49 billion.
Verint Systems (NASDAQ:VRNT) last issued its earnings results on Wednesday, June 7th. The technology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.11. Verint Systems had a positive return on equity of 9.76% and a negative net margin of 2.94%. The business had revenue of $265.70 million for the quarter, compared to analyst estimates of $259.97 million. During the same quarter last year, the company earned $0.46 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities research analysts anticipate that Verint Systems Inc. will post $2.71 EPS for the current fiscal year.
In other news, CFO Douglas Robinson sold 2,635 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $40.86, for a total transaction of $107,666.10. Following the sale, the chief financial officer now owns 159,818 shares of the company’s stock, valued at approximately $6,530,163.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Larry F. Myers sold 3,103 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $41.40, for a total value of $128,464.20. Following the sale, the director now directly owns 10,751 shares in the company, valued at approximately $445,091.40. The disclosure for this sale can be found here. Insiders have sold a total of 9,584 shares of company stock worth $393,624 in the last three months. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio raised its position in Verint Systems by 61.5% in the first quarter. Strs Ohio now owns 4,200 shares of the technology company’s stock valued at $182,000 after buying an additional 1,600 shares during the period. First Mercantile Trust Co. raised its position in Verint Systems by 8.7% in the first quarter. First Mercantile Trust Co. now owns 8,790 shares of the technology company’s stock valued at $381,000 after buying an additional 700 shares during the period. American Capital Management Inc. raised its position in Verint Systems by 10.1% in the first quarter. American Capital Management Inc. now owns 757,815 shares of the technology company’s stock valued at $32,870,000 after buying an additional 69,220 shares during the period. Simplex Trading LLC raised its position in Verint Systems by 386.7% in the first quarter. Simplex Trading LLC now owns 12,985 shares of the technology company’s stock valued at $563,000 after buying an additional 10,317 shares during the period. Finally, Columbus Circle Investors purchased a new position in Verint Systems during the first quarter valued at approximately $295,000. 95.46% of the stock is currently owned by institutional investors.
Verint Systems Company Profile
Verint Systems Inc offers Actionable Intelligence solutions. The Company delivers its Actionable Intelligence solutions through two operating segments: Customer Engagement Solutions and Cyber Intelligence Solutions. It is a provider of customer engagement software and services that can be deployed on-premises or in the cloud.
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