Verint Systems (NASDAQ:VRNT) Trading Down 3.6% – Here’s Why

Shares of Verint Systems Inc. (NASDAQ:VRNT) dropped 3.6% on Wednesday . The company traded as low as $24.95 and last traded at $24.96. Approximately 310,633 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 729,726 shares. The stock had previously closed at $25.88.

Analyst Ratings Changes

Several brokerages have commented on VRNT. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Verint Systems in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $38.00 target price on shares of Verint Systems in a research note on Thursday, September 26th. StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a research note on Monday, January 6th. Jefferies Financial Group lifted their price objective on shares of Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Verint Systems in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

Verint Systems Trading Down 2.3 %

The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $26.34 and a 200-day moving average price of $27.77. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.25 and a beta of 1.24.

Insider Activity

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

Institutional Investors Weigh In On Verint Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRNT. Quarry LP grew 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 valued at $26,000 after buying an additional 489 shares in the last quarter. Quantbot Technologies LP bought a new stake in Verint Systems in the third quarter worth approximately $58,000. CWM LLC grew its position in Verint Systems by 135.0% in the third quarter. CWM LLC now owns 5,660 shares of the technology company’s stock worth $143,000 after acquiring an additional 3,251 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in shares of Verint Systems by 29.9% during the 4th 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 during the last quarter. Finally, Algert Global LLC bought a new position in shares of Verint Systems during the 2nd quarter valued at $202,000. Hedge funds and other institutional investors own 94.95% of the company’s stock.

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.