Verint Systems (NASDAQ:VRNT) Shares Gap Up - Should You Buy?

Verint Systems Inc. (NASDAQ:VRNT - Get Free Report) shares 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 Analysts Forecast Growth

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

Verint Systems Stock Down 1.3%

The firm has a market capitalization of $1.27 billion, a P/E ratio of 25.80, a PEG ratio of 0.86 and a beta of 1.43. The firm has a 50 day moving average of $18.08 and a 200-day moving average of $21.08.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its 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 net margin of 7.66% and a return on equity of 12.35%. The firm had revenue of $173.62 million during the quarter, compared to the consensus estimate of $194.61 million. During the same period in the prior year, the business earned $0.59 earnings per share. Verint Systems's quarterly revenue was down 6.0% compared to the same quarter last year. As a group, research analysts expect 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 the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $16.50, for a total value of $155,743.50. Following the completion of the transaction, the insider directly owned 20,450 shares in the company, valued at approximately $337,425. This trade represents a 31.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen J. Gold sold 2,744 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $16.07, for a total value of $44,096.08. Following the sale, the director owned 28,473 shares in the company, valued at approximately $457,561.11. This trade represents a 8.79% 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.

Hedge Funds Weigh In On Verint Systems

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Verint Systems by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 7,819,401 shares of the technology company's stock worth $139,576,000 after purchasing an additional 55,918 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Verint Systems by 15.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,479,163 shares of the technology company's stock valued at $68,054,000 after buying an additional 338,454 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Verint Systems by 148.3% during the first 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 worth $38,826,000 after acquiring an additional 1,299,085 shares during the last quarter. Global Alpha Capital Management Ltd. raised its position in shares of Verint Systems by 1.9% during the first quarter. Global Alpha Capital Management Ltd. now owns 1,750,603 shares of the technology company's stock worth $31,248,000 after acquiring an additional 32,900 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake 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 worth $28,377,000 after acquiring an additional 93,118 shares during the period. 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.