Verint Systems (NASDAQ:VRNT) Shares Gap Up - What's Next?

Verint Systems Inc. (NASDAQ:VRNT - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $20.56, but opened at $21.59. Verint Systems shares last traded at $21.11, with a volume of 144,804 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on VRNT shares. Needham & Company LLC reiterated a "buy" rating and issued a $30.00 price target on shares of Verint Systems in a report on Thursday, June 5th. Cowen reaffirmed a "buy" rating on shares of Verint Systems in a research report on Wednesday, June 4th. Royal Bank Of Canada decreased their target price on Verint Systems from $36.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, March 27th. Wall Street Zen lowered Verint Systems from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Rosenblatt Securities initiated coverage on Verint Systems in a research report on Friday. They set a "buy" rating and a $40.00 target price for the company. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.71.

Verint Systems Stock Performance

The stock has a fifty day moving average price of $18.70 and a 200-day moving average price of $20.54. The firm has a market capitalization of $1.29 billion, a PE ratio of 26.07, a P/E/G ratio of 0.83 and a beta of 1.43.

Verint Systems (NASDAQ:VRNT - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. During the same quarter in the prior year, the business posted $0.59 earnings per share. The company's revenue was down 6.0% compared to the same quarter last year. Research analysts expect that Verint Systems Inc. will post 1.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Verint Systems during the fourth quarter valued at $5,276,000. PNC Financial Services Group Inc. lifted 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 worth $54,000 after acquiring an additional 613 shares during the period. Swiss National Bank lifted its position in Verint Systems by 1.2% during the 4th quarter. Swiss National Bank now owns 121,900 shares of the technology company's stock worth $3,346,000 after acquiring an additional 1,400 shares during the period. Teacher Retirement System of Texas lifted its position in Verint Systems by 30.6% during the 4th quarter. Teacher Retirement System of Texas now owns 40,710 shares of the technology company's stock worth $1,117,000 after acquiring an additional 9,541 shares during the period. Finally, Quantbot Technologies LP lifted its position in Verint Systems by 626.6% during the 4th quarter. Quantbot Technologies LP now owns 16,524 shares of the technology company's stock worth $454,000 after acquiring an additional 14,250 shares during the period. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

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.