Ieq Capital LLC Takes Position in Verint Systems Inc. (NASDAQ:VRNT)

Ieq Capital LLC acquired a new position in shares of Verint Systems Inc. (NASDAQ:VRNT) during the fourth quarter, HoldingsChannel reports. The fund acquired 22,528 shares of the technology company’s stock, valued at approximately $618,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in shares of Verint Systems during the 3rd quarter valued at approximately $58,000. KBC Group NV raised its holdings in Verint Systems by 75.0% during the fourth quarter. KBC Group NV now owns 3,380 shares of the technology company’s stock worth $93,000 after purchasing an additional 1,449 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in Verint Systems during the fourth quarter worth $154,000. Central Pacific Bank Trust Division boosted its position in Verint Systems by 29.9% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,075 shares of the technology company’s stock worth $194,000 after purchasing an additional 1,630 shares in the last quarter. Finally, FMR LLC grew its holdings in Verint Systems by 312.3% in the third quarter. FMR LLC now owns 10,065 shares of the technology company’s stock valued at $255,000 after purchasing an additional 7,624 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Verint Systems Stock Performance

Shares of NASDAQ VRNT opened at $23.86 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28. The company has a market cap of $1.49 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24. The company has a 50-day simple moving average of $25.92 and a 200-day simple moving average of $26.14. Verint Systems Inc. has a 12 month low of $21.27 and a 12 month high of $38.17.

Insiders Place Their Bets

In other news, insider Peter Fante sold 16,233 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $27.52, for a total transaction of $446,732.16. Following the sale, the insider now owns 73,314 shares in the company, valued at $2,017,601.28. This trade represents a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Grant A. Highlander sold 12,880 shares of Verint Systems stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $29.25, for a total value of $376,740.00. Following the completion of the sale, the chief financial officer now directly owns 117,137 shares of the company’s stock, valued at approximately $3,426,257.25. This represents a 9.91 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on VRNT. Jefferies Financial Group lifted their price target on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. StockNews.com downgraded shares of Verint Systems from a “buy” rating to a “hold” rating in a report on Sunday. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Verint Systems in a research report on Wednesday, January 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Verint Systems in a research report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.67.

Verint Systems 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.