Vestcor Inc Takes $628,000 Position in Verint Systems Inc. (NASDAQ:VRNT)

Vestcor Inc acquired a new stake in Verint Systems Inc. (NASDAQ:VRNT) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 22,877 shares of the technology company’s stock, valued at approximately $628,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. raised its stake in Verint Systems by 39.5% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,717,703 shares of the technology company’s stock valued at $47,151,000 after purchasing an additional 486,000 shares during the last quarter. State Street Corp raised its stake in Verint Systems by 1.5% in the 3rd quarter. State Street Corp now owns 1,573,801 shares of the technology company’s stock valued at $39,864,000 after purchasing an additional 23,400 shares during the last quarter. Fisher Asset Management LLC raised its stake in Verint Systems by 26.5% in the 3rd quarter. Fisher Asset Management LLC now owns 1,516,409 shares of the technology company’s stock valued at $38,411,000 after purchasing an additional 317,804 shares during the last quarter. Geode Capital Management LLC raised its stake in Verint Systems by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,500,087 shares of the technology company’s stock valued at $38,004,000 after purchasing an additional 4,034 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in Verint Systems by 32.4% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 775,869 shares of the technology company’s stock valued at $21,298,000 after purchasing an additional 189,860 shares during the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Verint Systems

In related news, CFO Grant A. Highlander sold 12,880 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,426,257.25. This trade represents a 9.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Fante sold 16,233 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $27.52, for a total value of $446,732.16. Following the transaction, the insider now owns 73,314 shares of the company’s stock, valued at $2,017,601.28. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

VRNT has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Verint Systems in a research note on Wednesday, January 15th. Jefferies Financial Group raised their target price on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Verint Systems in a research note on Friday, January 10th. Finally, StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.67.

Verint Systems Stock Performance

NASDAQ VRNT opened at $21.75 on Monday. The stock has a market cap of $1.35 billion, a PE ratio of 23.14, a P/E/G ratio of 0.97 and a beta of 1.29. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. Verint Systems Inc. has a twelve month low of $20.67 and a twelve month high of $38.17. The stock has a fifty day simple moving average of $24.54 and a 200-day simple moving average of $25.19.

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.