Verint Systems (NASDAQ:VRNT) Shares Down 4.3% - What's Next?

Verint Systems Inc. (NASDAQ:VRNT - Get Free Report)'s stock price dropped 4.3% during mid-day trading on Thursday . The company traded as low as $20.25 and last traded at $20.53. Approximately 1,722,646 shares changed hands during mid-day trading, an increase of 83% from the average daily volume of 939,967 shares. The stock had previously closed at $21.44.

Analysts Set New Price Targets

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

Verint Systems Stock Down 1.3%

The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 0.86 and a beta of 1.43. The business's fifty day moving average is $18.08 and its two-hundred day moving average is $20.99.

Verint Systems (NASDAQ:VRNT - Get Free Report) last issued its quarterly earnings results 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). Verint Systems had a net margin of 7.66% and a return on equity of 12.35%. The company had revenue of $173.62 million during the quarter, compared to analyst estimates of $194.61 million. During the same period in the prior year, the business earned $0.59 EPS. The business's revenue for the quarter was down 6.0% on a year-over-year basis. Research analysts forecast that Verint Systems Inc. will post 1.92 EPS for the current year.

Insiders Place Their Bets

In other news, Director Stephen J. Gold sold 2,744 shares of Verint Systems stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $16.07, for a total transaction of $44,096.08. Following the transaction, the director directly owned 28,473 shares of the company's stock, valued at $457,561.11. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Peter Fante sold 9,439 shares of Verint Systems stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $16.50, for a total transaction of $155,743.50. Following the transaction, the insider directly owned 20,450 shares in the company, valued at approximately $337,425. This represents a 31.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Verint Systems

Several institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 worth $38,826,000 after buying an additional 1,299,085 shares in the last quarter. Marshall Wace LLP bought a new stake in Verint Systems during the 4th quarter worth about $22,528,000. Arrowstreet Capital Limited Partnership lifted its position in Verint Systems by 491.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 764,498 shares of the technology company's stock worth $20,985,000 after buying an additional 635,334 shares in the last quarter. Invenomic Capital Management LP lifted its position in Verint Systems by 116.5% during the 1st quarter. Invenomic Capital Management LP now owns 1,155,532 shares of the technology company's stock worth $20,626,000 after buying an additional 621,707 shares in the last quarter. Finally, Philosophy Capital Management LLC bought a new stake in Verint Systems during the 1st quarter worth about $10,168,000. 94.95% of the stock is owned by 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.