Verint Systems (NASDAQ:VRNT) Shares Gap Up - Here's Why

Verint Systems Inc. (NASDAQ:VRNT - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $18.59, but opened at $19.51. Verint Systems shares last traded at $20.03, with a volume of 1,851,156 shares trading hands.

Wall Street Analyst Weigh In

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

Verint Systems Stock Up 15.3%

The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 0.74 and a beta of 1.43. The firm has a 50 day moving average price of $17.87 and a two-hundred day moving average price of $21.19.

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 for the quarter, missing analysts' consensus estimates of $0.41 by ($0.12). The business had revenue of $173.62 million for the quarter, compared to analyst estimates of $194.61 million. Verint Systems had a net margin of 7.66% and a return on equity of 12.35%. Verint Systems's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 EPS. Analysts predict that Verint Systems Inc. will post 1.92 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephen J. Gold sold 2,744 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $16.07, for a total transaction of $44,096.08. Following the sale, the director owned 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 company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $16.50, for a total value of $155,743.50. Following the completion of the sale, the insider owned 20,450 shares of the company's stock, valued at approximately $337,425. This trade represents a 31.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Verint Systems

Hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new stake in shares of Verint Systems in the 1st quarter valued at approximately $29,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Verint Systems by 148.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,175,147 shares of the technology company's stock valued at $38,826,000 after purchasing an additional 1,299,085 shares during the period. Caxton Associates LLP purchased a new stake in shares of Verint Systems in the first quarter valued at $479,000. Goldman Sachs Group Inc. lifted its holdings in shares of Verint Systems by 6.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,589,770 shares of the technology company's stock valued at $28,377,000 after purchasing an additional 93,118 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Verint Systems in the first quarter worth $572,000. 94.95% of the stock is currently owned by institutional investors and hedge funds.

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.