Traders Purchase High Volume of Call Options on Verint Systems (NASDAQ:VRNT)

Key Points

• Traders significantly increased their activity in Verint Systems by purchasing 10,768 call options, a 454% increase from the average daily volume.
• Analysts maintain a "Moderate Buy" consensus rating for Verint Systems, with a price target averaging $31.71, supported by multiple upgrades from firms like Needham & Company and Cowen.
• Despite trading up 0.9% to $21.14, Verint reported a loss of $0.12 per share in its last earnings, falling short of estimates and showing a 6% decline in revenue year-over-year.

Verint Systems Inc. (NASDAQ:VRNT - Get Free Report) was the recipient of some unusual options trading on Wednesday. Traders bought 10,768 call options on the stock. Thisisanincreaseof454% compared to the average daily volume of 1,942 call options.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on VRNT shares. Needham & Company LLC reiterated a "buy" rating and issued a $30.00 target price on shares of Verint Systems in a research note on Thursday, June 5th. Wedbush restated an "outperform" rating and set a $30.00 price objective on shares of Verint Systems in a research report on Wednesday, June 4th. Cowen reaffirmed a "buy" rating on shares of Verint Systems in a report on Wednesday, June 4th. Finally, Rosenblatt Securities began coverage on shares of Verint Systems in a research report on Friday, July 18th. They issued a "buy" rating and a $40.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.71.

Verint Systems Trading Up 0.9%

Shares of NASDAQ:VRNT traded up $0.18 during trading on Wednesday, hitting $21.14. 163,739 shares of the stock were exchanged, compared to its average volume of 1,087,595. The company has a market cap of $1.27 billion, a PE ratio of 25.76, a P/E/G ratio of 0.85 and a beta of 1.46. The company has a fifty day moving average price of $19.63 and a two-hundred day moving average price of $20.26. Verint Systems has a 12-month low of $14.15 and a 12-month high of $34.80.

Verint Systems (NASDAQ:VRNT - Get Free Report) last posted its earnings results on Wednesday, June 4th. The technology company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.12). Verint Systems had a return on equity of 12.35% and a net margin of 7.66%. The firm had revenue of $173.62 million for the quarter, compared to analysts' expectations of $194.61 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. Equities research analysts anticipate that Verint Systems will post 1.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verint Systems

Several hedge funds have recently added to or reduced their stakes in the business. Clark Capital Management Group Inc. grew its holdings in shares of Verint Systems by 0.4% during the fourth quarter. Clark Capital Management Group Inc. now owns 142,398 shares of the technology company's stock worth $3,909,000 after buying an additional 515 shares in the last quarter. State of Wyoming grew its stake in Verint Systems by 7.4% in the 1st quarter. State of Wyoming now owns 9,384 shares of the technology company's stock worth $168,000 after acquiring an additional 646 shares during the period. Philadelphia Trust Co. raised its holdings in Verint Systems by 0.9% in the 4th quarter. Philadelphia Trust Co. now owns 106,800 shares of the technology company's stock valued at $2,932,000 after acquiring an additional 1,000 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Verint Systems by 3.5% during the 4th quarter. Wells Fargo & Company MN now owns 46,614 shares of the technology company's stock worth $1,280,000 after purchasing an additional 1,562 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Verint Systems by 2,180.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,642 shares of the technology company's stock worth $32,000 after purchasing an additional 1,570 shares during the period. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

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.

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