Verint Systems (NASDAQ:VRNT) Trading Up 8.4% - Here's What Happened

Shares of Verint Systems Inc. (NASDAQ:VRNT - Get Free Report) shot up 8.4% during trading on Thursday . The stock traded as high as $19.62 and last traded at $19.61. 2,527,252 shares were traded during trading, an increase of 195% from the average session volume of 857,386 shares. The stock had previously closed at $18.09.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VRNT shares. Needham & Company LLC restated a "buy" rating and issued a $30.00 target price on shares of Verint Systems in a research note on Thursday, June 5th. Wedbush reaffirmed an "outperform" rating and issued a $30.00 target price on shares of Verint Systems in a research note on Wednesday, June 4th. Wall Street Zen cut shares of Verint Systems from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Cowen reissued a "buy" rating on shares of Verint Systems in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada dropped 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.33.

Verint Systems Price Performance

The company's 50 day simple moving average is $17.74 and its 200 day simple moving average is $21.27. The stock has a market cap of $1.13 billion, a P/E ratio of 22.90, a P/E/G ratio of 0.75 and a beta of 1.41.

Verint Systems (NASDAQ:VRNT - Get Free Report) last issued its quarterly earnings data 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 return on equity of 12.35% and a net margin of 7.66%. The business had revenue of $173.62 million for the quarter, compared to analyst estimates of $194.61 million. During the same period in the previous year, the business posted $0.59 EPS. The business's quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities research analysts predict that Verint Systems Inc. will post 1.92 earnings per share for the current year.

Insider Activity at Verint Systems

In other Verint Systems news, insider Peter Fante sold 9,439 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 20,450 shares of the company's stock, valued at $337,425. This represents a 31.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen J. Gold sold 2,744 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $16.07, for a total transaction of $44,096.08. Following the transaction, the director now directly owns 28,473 shares of the company's stock, valued at $457,561.11. This 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 insiders.

Institutional Trading of Verint Systems

Institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new stake in Verint Systems in the 4th quarter valued at $43,000. Strs Ohio bought a new position in shares of Verint Systems in the 1st quarter valued at about $29,000. Headlands Technologies LLC acquired a new stake in shares of Verint Systems in the fourth quarter valued at about $52,000. Parkside Financial Bank & Trust bought a new stake in Verint Systems during the fourth quarter worth about $52,000. Finally, Sterling Capital Management LLC raised its holdings in Verint Systems by 808.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company's stock worth $53,000 after acquiring an additional 1,713 shares in the last quarter. Institutional investors 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.