Verint Systems (NASDAQ:VRNT) Shares Down 3.3% - Time to Sell?

Verint Systems Inc. (NASDAQ:VRNT - Get Free Report)'s stock price dropped 3.3% during mid-day trading on Wednesday . The stock traded as low as $16.65 and last traded at $16.63. Approximately 540,662 shares changed hands during trading, a decline of 35% from the average daily volume of 825,913 shares. The stock had previously closed at $17.20.

Analysts Set New Price Targets

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

Verint Systems Trading Down 4.5%

The company has a market cap of $988.43 million, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 0.70 and a beta of 1.41. The company's fifty day moving average is $17.49 and its 200 day moving average is $21.95.

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

Insider Transactions at Verint Systems

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

Institutional Investors Weigh In On Verint Systems

Several hedge funds have recently bought and sold shares of the business. Clark Capital Management Group Inc. boosted its position in shares of Verint Systems by 0.4% in the 4th quarter. Clark Capital Management Group Inc. now owns 142,398 shares of the technology company's stock worth $3,909,000 after purchasing an additional 515 shares in the last quarter. PNC Financial Services Group Inc. increased its stake 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 in the last quarter. State of Wyoming lifted its stake 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 worth $168,000 after buying an additional 646 shares in the last quarter. Philadelphia Trust Co. grew its holdings in shares of Verint Systems by 0.9% during the fourth quarter. Philadelphia Trust Co. now owns 106,800 shares of the technology company's stock valued at $2,932,000 after buying an additional 1,000 shares during 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 acquiring an additional 1,400 shares in the last quarter. 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.

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