Verint Systems (NASDAQ:VRNT) Sees Large Volume Increase - Should You Buy?

Key Points

• Verint Systems experienced a 42% increase in trading volume, with approximately 1.9 million shares changing hands, while the stock price has remained stable around $20.26.
• Recent analyst ratings have been largely negative, with most ratings shifting to "Hold" and target prices being lowered significantly, affecting investor sentiment.
• The company reported earnings of $0.33 per share, exceeding expectations but showing a 1.0% decline in revenue compared to the previous year, indicating potential ongoing challenges.

Shares of Verint Systems Inc. (NASDAQ:VRNT - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,927,283 shares traded hands during trading, an increase of 42% from the previous session's volume of 1,353,718 shares.The stock last traded at $20.26 and had previously closed at $20.28.

Analyst Ratings Changes

Several equities analysts have recently commented on VRNT shares. Needham & Company LLC lowered Verint Systems from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $20.50 target price (down from $29.00) on shares of Verint Systems in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Verint Systems in a report on Wednesday, October 8th. Rosenblatt Securities lowered Verint Systems from a "buy" rating to a "hold" rating and lowered their target price for the company from $40.00 to $20.50 in a report on Monday, August 25th. Finally, Wedbush downgraded Verint Systems from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $26.33.

Verint Systems Stock Down 0.1%

The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 0.89 and a beta of 1.50. The business has a 50-day simple moving average of $20.19 and a two-hundred day simple moving average of $19.15.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its earnings results on Tuesday, September 2nd. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $165.52 million during the quarter, compared to the consensus estimate of $200.43 million. Verint Systems had a return on equity of 11.06% and a net margin of 6.87%.The firm's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, analysts forecast that Verint Systems Inc. will post 1.92 EPS for the current year.

Institutional Investors Weigh In On Verint Systems

A number of institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its position in Verint Systems by 30.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,606 shares of the technology company's stock worth $51,000 after purchasing an additional 613 shares during the period. State of Wyoming increased its holdings in shares of Verint Systems by 7.4% in the first quarter. State of Wyoming now owns 9,384 shares of the technology company's stock valued at $168,000 after buying an additional 646 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Verint Systems by 2.0% in the second quarter. Raymond James Financial Inc. now owns 42,462 shares of the technology company's stock valued at $835,000 after buying an additional 815 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Verint Systems by 114.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company's stock valued at $40,000 after buying an additional 1,098 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Verint Systems by 11.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 14,333 shares of the technology company's stock valued at $282,000 after buying an additional 1,500 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

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.

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