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

Verint Systems Inc. (NASDAQ:VRNT - Get Free Report) shares dropped 3.3% 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VRNT shares. Cowen reiterated a "buy" rating on shares of Verint Systems in a research report on Wednesday, June 4th. Wall Street Zen cut Verint Systems from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. Royal Bank Of Canada lowered their target price on Verint Systems from $36.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday, March 27th. Needham & Company LLC restated a "buy" rating and issued a $30.00 price target on shares of Verint Systems in a research report on Thursday, June 5th. Finally, Wedbush reaffirmed an "outperform" rating and set a $30.00 price target on shares of Verint Systems in a research note on Wednesday, June 4th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Verint Systems currently has an average rating of "Moderate Buy" and a consensus price target of $30.33.

Verint Systems Stock Performance

The business has a fifty day simple moving average of $17.53 and a 200 day simple moving average of $21.77. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 0.67 and a beta of 1.41.

Verint Systems (NASDAQ:VRNT - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $194.61 million. Verint Systems had a net margin of 7.66% and a return on equity of 12.35%. The firm's revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. On average, equities research analysts anticipate that Verint Systems Inc. will post 1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephen J. Gold sold 2,744 shares of Verint Systems stock in a transaction 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 sale, the director now owns 28,473 shares of the company's stock, valued at $457,561.11. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Fante sold 9,439 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $16.50, for a total transaction of $155,743.50. Following the completion of the sale, the insider now owns 20,450 shares of the company's stock, valued at approximately $337,425. The trade was a 31.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Verint Systems in the 4th quarter worth about $5,276,000. Parallel Advisors LLC increased its position in Verint Systems by 14,079.2% during the 1st quarter. Parallel Advisors LLC now owns 3,403 shares of the technology company's stock worth $61,000 after purchasing an additional 3,379 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Verint Systems in the fourth quarter valued at approximately $321,000. Northern Trust Corp raised its holdings in Verint Systems by 1.5% in the fourth quarter. Northern Trust Corp now owns 639,234 shares of the technology company's stock valued at $17,547,000 after buying an additional 9,361 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in Verint Systems by 9,634.9% during the first quarter. Harbor Capital Advisors Inc. now owns 14,505 shares of the technology company's stock valued at $259,000 after buying an additional 14,356 shares in the last quarter. Institutional investors and hedge funds 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.