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

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 changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VRNT shares. Cowen restated a "buy" rating on shares of Verint Systems in a research report on Wednesday, June 4th. Wedbush restated an "outperform" rating and issued a $30.00 target price on shares of Verint Systems in a research report on Wednesday, June 4th. Wall Street Zen downgraded Verint Systems from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Rosenblatt Securities began coverage on Verint Systems in a research report on Friday. They set a "buy" rating and a $40.00 price objective on the stock. Finally, Evercore ISI reduced their price objective on Verint Systems from $34.00 to $23.00 and set an "in-line" rating on the stock in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Verint Systems currently has an average rating of "Moderate Buy" and a consensus price target of $31.71.

Verint Systems Stock Up 1.2%

The stock has a market cap of $1.25 billion, a PE ratio of 25.38, a P/E/G ratio of 0.82 and a beta of 1.43. The stock has a 50-day moving average of $18.70 and a 200 day moving average of $20.63.

Verint Systems (NASDAQ:VRNT - Get Free Report) last posted its 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 business had revenue of $173.62 million for the quarter, compared to analyst estimates 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 period last year, the business earned $0.59 EPS. Research analysts forecast that Verint Systems Inc. will post 1.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Verint Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRNT. Charles Schwab Investment Management Inc. increased its stake in Verint Systems by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 705,227 shares of the technology company's stock worth $19,358,000 after acquiring an additional 53,486 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Verint Systems during the fourth quarter worth $5,276,000. PNC Financial Services Group Inc. increased its stake in Verint Systems by 45.7% during the fourth 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 last quarter. Swiss National Bank increased its stake in Verint Systems by 1.2% during the fourth 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 last quarter. Finally, Boston Partners increased its stake in Verint Systems by 52.2% during the fourth quarter. Boston Partners now owns 858,171 shares of the technology company's stock worth $23,257,000 after acquiring an additional 294,381 shares during 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.