Ion Asset Management Ltd. Lowers stake in Verint Systems (VRNT)

Verint Systems (VRNT) : Ion Asset Management Ltd. reduced its stake in Verint Systems by 24.57% during the most recent quarter end. The investment management company now holds a total of 364,549 shares of Verint Systems which is valued at $11.8 Million after selling 118,727 shares in Verint Systems , the firm said in a disclosure report filed with the SEC on May 13, 2016.Verint Systems makes up approximately 6.01% of Ion Asset Management Ltd.’s portfolio.

Other Hedge Funds, Including , Loomis Sayles Co L P reduced its stake in VRNT by selling 414,496 shares or 59.43% in the most recent quarter. The Hedge Fund company now holds 282,954 shares of VRNT which is valued at $9.2 Million. Verint Systems makes up approx 0.03% of Loomis Sayles Co L P’s portfolio.Blackrock Institutional Trust Company N.a. reduced its stake in VRNT by selling 74,484 shares or 4.08% in the most recent quarter. The Hedge Fund company now holds 1,749,353 shares of VRNT which is valued at $56.6 Million. Verint Systems makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio.Tealwood Asset Management Inc boosted its stake in VRNT in the latest quarter, The investment management firm added 1,470 additional shares and now holds a total of 51,035 shares of Verint Systems which is valued at $1.7 Million. Verint Systems makes up approx 0.74% of Tealwood Asset Management Inc’s portfolio.Bronfman E.l. Rothschild boosted its stake in VRNT in the latest quarter, The investment management firm added 148 additional shares and now holds a total of 1,831 shares of Verint Systems which is valued at $59,819. Verint Systems makes up approx 0.01% of Bronfman E.l. Rothschild’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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