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

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on VRNT. Evercore ISI lowered their price objective on shares of Verint Systems from $34.00 to $30.00 and set an “in-line” rating on the stock in a research report on Thursday, September 5th. StockNews.com raised shares of Verint Systems from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. TD Cowen lowered their price objective on shares of Verint Systems from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Verint Systems in a research note on Wednesday, September 25th. Finally, Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Verint Systems in a research note on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Verint Systems presently has an average rating of “Moderate Buy” and an average target price of $34.67.

Verint Systems Price Performance

The firm’s 50 day moving average price is $23.60 and its two-hundred day moving average price is $28.89. The stock has a market cap of $1.51 billion, a PE ratio of 36.24, a P/E/G ratio of 1.05 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.41 and a quick ratio of 1.36.

Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). The firm had revenue of $210.17 million for the quarter, compared to analysts’ expectations of $212.81 million. Verint Systems had a net margin of 6.78% and a return on equity of 16.17%. Verint Systems’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. On average, research analysts expect that Verint Systems Inc. will post 1.97 earnings per share for the current year.

Insider Activity at Verint Systems

In other Verint Systems news, CEO Dan Bodner sold 16,932 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.85, for a total value of $437,692.20. Following the completion of the transaction, the chief executive officer now owns 592,832 shares of the company’s stock, valued at $15,324,707.20. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Grant A. Highlander sold 3,389 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.85, for a total transaction of $87,605.65. Following the completion of the transaction, the chief financial officer now directly owns 131,267 shares of the company’s stock, valued at approximately $3,393,251.95. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,811 shares of company stock valued at $874,014. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Verint Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Stanley Laman Group Ltd. lifted its holdings in shares of Verint Systems by 0.4% in the 2nd quarter. Stanley Laman Group Ltd. now owns 124,470 shares of the technology company’s stock worth $4,008,000 after acquiring an additional 478 shares during the last quarter. Quarry LP raised its holdings in Verint Systems by 160.9% during 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 during the last quarter. Lingohr Asset Management GmbH raised its holdings in Verint Systems by 3.7% during the 3rd quarter. Lingohr Asset Management GmbH now owns 20,012 shares of the technology company’s stock valued at $507,000 after buying an additional 712 shares during the last quarter. Innealta Capital LLC bought a new stake in Verint Systems during the 2nd quarter valued at $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Verint Systems by 11.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,586 shares of the technology company’s stock valued at $405,000 after purchasing an additional 1,272 shares during the period. 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.