Verint Systems (NASDAQ:VRNT) Trading Down 5% – Here’s Why

Verint Systems Inc. (NASDAQ:VRNT)’s stock price fell 5% during mid-day trading on Monday . The company traded as low as $23.90 and last traded at $23.95. 235,420 shares were traded during trading, a decline of 65% from the average session volume of 666,378 shares. The stock had previously closed at $25.20.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VRNT. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Jefferies Financial Group decreased their target price on shares of Verint Systems from $32.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Wedbush restated an “outperform” rating and set a $38.00 target price on shares of Verint Systems in a research report on Thursday, September 26th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Verint Systems in a research report on Thursday, September 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of Verint Systems in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Verint Systems currently has an average rating of “Moderate Buy” and a consensus target price of $34.67.

Verint Systems Price Performance

The company’s 50 day moving average price is $23.60 and its 200-day moving average price is $28.89. The stock has a market cap of $1.51 billion, a P/E ratio of 36.24, a P/E/G ratio of 1.05 and a beta of 1.28. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 0.49.

Verint Systems (NASDAQ:VRNT) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.04). Verint Systems had a return on equity of 16.17% and a net margin of 6.78%. The firm had revenue of $210.17 million for the quarter, compared to analyst estimates of $212.81 million. During the same quarter last year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts expect that Verint Systems Inc. will post 1.97 earnings per share for the current year.

Insider Transactions at Verint Systems

In other Verint Systems news, CFO Grant A. Highlander sold 3,389 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.85, for a total value of $87,605.65. Following the transaction, the chief financial officer now directly owns 131,267 shares of the company’s stock, valued at approximately $3,393,251.95. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dan Bodner sold 16,932 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.85, for a total transaction of $437,692.20. Following the completion of the transaction, the chief executive officer now directly owns 592,832 shares in the company, valued at $15,324,707.20. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,811 shares of company stock worth $874,014 over the last three months. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quarry LP lifted its position in shares of Verint Systems by 160.9% during the second quarter. Quarry LP now owns 793 shares of the technology company’s stock valued at $26,000 after purchasing an additional 489 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Verint Systems during the second quarter valued at about $36,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Verint Systems during the second quarter valued at about $43,000. Quantbot Technologies LP bought a new position in shares of Verint Systems during the third quarter valued at about $58,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Verint Systems during the second quarter valued at about $138,000. 94.95% of the stock is owned by institutional investors.

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.