Verint Systems (NASDAQ:VRNT) Sees Strong Trading Volume - Here's What Happened

Shares of Verint Systems Inc. (NASDAQ:VRNT - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 3,936,321 shares traded hands during mid-day trading, an increase of 347% from the previous session's volume of 879,651 shares.The stock last traded at $18.66 and had previously closed at $19.67.

Analysts Set New Price Targets

A number of research analysts have weighed in on VRNT shares. Royal Bank Of Canada reduced their target price on Verint Systems from $36.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday, March 27th. Evercore ISI decreased their target price on shares of Verint Systems from $34.00 to $23.00 and set an "in-line" rating on the stock in a report on Thursday, March 27th. Wall Street Zen downgraded shares of Verint Systems from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Wedbush reaffirmed an "outperform" rating and issued a $30.00 price target on shares of Verint Systems in a report on Wednesday, June 4th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $30.00 price objective on shares of Verint Systems in a research report on Thursday, June 5th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.33.

Verint Systems Stock Down 1.3%

The company has a market capitalization of $1.27 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 0.86 and a beta of 1.43. The firm's 50-day moving average is $18.02 and its 200-day moving average is $21.14.

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

Insider Buying and Selling at Verint Systems

In other Verint Systems news, Director Stephen J. Gold sold 2,744 shares of the business's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $16.07, for a total value of $44,096.08. Following the transaction, the director owned 28,473 shares in the company, valued at approximately $457,561.11. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Fante sold 9,439 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $16.50, for a total transaction of $155,743.50. Following the transaction, the insider directly owned 20,450 shares of the company's stock, valued at approximately $337,425. This trade represents a 31.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Verint Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Clark Capital Management Group Inc. increased its stake 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 valued at $3,909,000 after buying an additional 515 shares during the period. PNC Financial Services Group Inc. increased its position in Verint Systems by 45.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company's stock valued at $54,000 after purchasing an additional 613 shares during the period. State of Wyoming lifted its position in shares of 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 purchasing an additional 646 shares during the period. Philadelphia Trust Co. boosted its stake in shares of Verint Systems by 0.9% during the 4th quarter. Philadelphia Trust Co. now owns 106,800 shares of the technology company's stock valued at $2,932,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Verint Systems by 1.2% during the fourth quarter. Swiss National Bank now owns 121,900 shares of the technology company's stock valued at $3,346,000 after buying an additional 1,400 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.