Destrier Capital Management Lowers stake in Verint Systems (VRNT)

Verint Systems (VRNT) : Destrier Capital Management reduced its stake in Verint Systems by 25.55% during the most recent quarter end. The investment management company now holds a total of 144,000 shares of Verint Systems which is valued at $4.7 Million after selling 49,416 shares in Verint Systems , the firm said in a disclosure report filed with the SEC on May 13, 2016.Verint Systems makes up approximately 3.28% of Destrier Capital Management’s portfolio.

Other Hedge Funds, Including , North Run Capital Lp added VRNT to its portfolio by purchasing 37,326 company shares during the most recent quarter which is valued at $1.2 Million. Verint Systems makes up approx 0.16% of North Run Capital Lp’s portfolio. Trexquant Investment Lp added VRNT to its portfolio by purchasing 39,400 company shares during the most recent quarter which is valued at $1.3 Million. Verint Systems makes up approx 0.15% of Trexquant Investment Lp’s portfolio.Rs Investment Management Co reduced its stake in VRNT by selling 31,220 shares or 4.74% in the most recent quarter. The Hedge Fund company now holds 627,382 shares of VRNT which is valued at $20.3 Million. Verint Systems makes up approx 0.20% of Rs Investment Management Co’s portfolio.Schwab Charles Investment Management Inc reduced its stake in VRNT by selling 10,422 shares or 4.49% in the most recent quarter. The Hedge Fund company now holds 221,945 shares of VRNT which is valued at $7.3 Million. Verint Systems makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio.

Verint Systems opened for trading at $33.2 and hit $33.64 on the upside on Wednesday, eventually ending the session at $33.42, with a gain of 0.75% or 0.25 points. The heightened volatility saw the trading volume jump to 12,91,828 shares. Company has a market cap of $2,081 M.

On the company’s financial health, Verint Systems reported $0.90 EPS for the quarter, missing the analyst consensus estimate by $ -0.26 based on the information available during the earnings call on Mar 29, 2016. Analyst had a consensus of $1.16. The company had revenue of $281.80 million for the quarter, compared to analysts expectations of $318.09 million. The company’s revenue was down -10.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.19 EPS.

Many Wall Street Analysts have commented on Verint Systems. Shares were Reiterated by Imperial Capital on Apr 5, 2016 to “Outperform” and Lowered the Price Target to $ 40 from a previous price target of $55 .Shares were Downgraded by Deutsche Bank on Mar 30, 2016 to ” Hold” and Lowered the Price Target to $ 35 from a previous price target of $50 .Verint Systems was Downgraded by Credit Suisse to ” Underperform” on Mar 30, 2016.

Verint Systems Inc. is a company engaged in Actionable Intelligence solutions. The Company’s Actionable Intelligence solutions address: Customer Engagement Optimization; Security Intelligence; and Fraud Risk and Compliance. The Company offers services such as strategic consulting implementation services training maintenance and 24 x 7 support as well as deployment models including on premises hosted managed services and software as a service (SaaS). The Company has three operating segments. The Company addresses the Customer Engagement Optimization market opportunity through solutions from its Enterprise Intelligence Solution segment. It addresses the Security Intelligence market opportunity through solutions from its Communications and Cyber Intelligence Solutions and Video and Situation Intelligence Solutions and it addresses the Fraud Risk and Compliance market opportunity through solutions from all the three operating segments.

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