Verint Systems (NASDAQ:VRNT) Stock Price Down 5% – Here’s Why

Verint Systems Inc. (NASDAQ:VRNT) fell 5% on Monday . The stock traded as low as $23.90 and last traded at $23.95. 235,420 shares were traded during trading, a decline of 65% from the average session volume of 666,378 shares. The stock had previously closed at $25.20.

Analysts Set New Price Targets

A number of brokerages have recently commented on VRNT. TD Cowen lowered their price objective on Verint Systems from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Verint Systems in a research report on Wednesday, September 25th. StockNews.com raised shares of Verint Systems from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Jefferies Financial Group dropped their target price on Verint Systems from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Verint Systems in a report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Verint Systems has a consensus rating of “Moderate Buy” and an average target price of $34.67.

Verint Systems Trading Down 2.9 %

The business’s 50-day moving average is $23.62 and its two-hundred day moving average is $29.00. The stock has a market capitalization of $1.52 billion, a PE ratio of 35.69, a PEG ratio of 1.07 and a beta of 1.28. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 0.49.

Verint Systems (NASDAQ:VRNT) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $210.17 million during the quarter, compared to analyst estimates of $212.81 million. Verint Systems had a net margin of 6.78% and a return on equity of 16.17%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. On average, analysts anticipate that Verint Systems Inc. will post 1.97 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Grant A. Highlander sold 3,389 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.85, for a total value of $87,605.65. Following the transaction, the chief financial officer now owns 131,267 shares in the company, valued at $3,393,251.95. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Dan Bodner sold 16,932 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.85, for a total value of $437,692.20. Following the sale, the chief executive officer now directly owns 592,832 shares of the company’s stock, valued at $15,324,707.20. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,811 shares of company stock valued at $874,014 in the last ninety days. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Verint Systems

Several institutional investors have recently bought and sold shares of VRNT. Quarry LP lifted its stake in shares of Verint Systems by 160.9% in the 2nd quarter. Quarry LP now owns 793 shares of the technology company’s stock worth $26,000 after acquiring an additional 489 shares during the period. Innealta Capital LLC acquired a new position in Verint Systems during the 2nd quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Verint Systems during the 2nd quarter worth approximately $43,000. Quantbot Technologies LP acquired a new stake in shares of Verint Systems in the 3rd quarter valued at approximately $58,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Verint Systems in the 2nd quarter valued at approximately $138,000. 94.95% of the stock is owned by institutional investors and hedge funds.

Verint Systems Company 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.