Verint Systems (NASDAQ:VRNT) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Verint Systems Inc. shares have recently surpassed their 200-day moving average, trading at $20.26, which is above the average of $19.03.
• Analyst ratings for Verint Systems vary, with the consensus being a "Hold" rating and a reduced average price target of $26.33, down from previous estimates.
• The company reported earnings per share of $0.33 for the last quarter, exceeding expectations, but its revenue of $165.52 million fell short of the forecast of $200.43 million.

Verint Systems Inc. (NASDAQ:VRNT - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.03 and traded as high as $20.28. Verint Systems shares last traded at $20.26, with a volume of 1,400,676 shares.

Analyst Ratings Changes

VRNT has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (d+)" rating on shares of Verint Systems in a report on Saturday, September 27th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $20.50 target price (down from $29.00) on shares of Verint Systems in a research note on Tuesday, August 26th. Wedbush lowered shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Rosenblatt Securities downgraded shares of Verint Systems from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $40.00 to $20.50 in a research report on Monday, August 25th. Finally, TD Cowen lowered shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 25th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.33.

Verint Systems Price Performance

The company's fifty day simple moving average is $20.33 and its 200-day simple moving average is $19.03. The firm has a market capitalization of $1.22 billion, a PE ratio of 28.54, a P/E/G ratio of 0.89 and a beta of 1.50.

Verint Systems (NASDAQ:VRNT - Get Free Report) last released its quarterly earnings results on Tuesday, September 2nd. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Verint Systems had a net margin of 6.87% and a return on equity of 11.06%. The firm had revenue of $165.52 million during the quarter, compared to the consensus estimate of $200.43 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The company's revenue for the quarter was down 1.0% on a year-over-year basis. Analysts forecast that Verint Systems Inc. will post 1.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRNT. Osaic Holdings Inc. boosted its stake in Verint Systems by 1,306.2% during the 2nd quarter. Osaic Holdings Inc. now owns 13,415 shares of the technology company's stock worth $241,000 after purchasing an additional 12,461 shares during the last quarter. Pitcairn Co. boosted its position in Verint Systems by 20.4% during the second quarter. Pitcairn Co. now owns 18,607 shares of the technology company's stock worth $366,000 after acquiring an additional 3,159 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Verint Systems by 171.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,069 shares of the technology company's stock valued at $139,000 after acquiring an additional 4,466 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Verint Systems by 6.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 424,439 shares of the technology company's stock valued at $8,349,000 after acquiring an additional 26,271 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Verint Systems by 371.7% in the 2nd quarter. Bridgeway Capital Management LLC now owns 449,041 shares of the technology company's stock worth $8,833,000 after purchasing an additional 353,841 shares in the last quarter. 94.95% of the stock is 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.

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