Verint Systems (NASDAQ:VRNT) Sees Unusually-High Trading Volume – Here’s What Happened

Verint Systems Inc. (NASDAQ:VRNT) saw unusually-high trading volume on Tuesday . Approximately 6,164,822 shares traded hands during trading, an increase of 340% from the previous session’s volume of 1,400,259 shares.The stock last traded at $20.5050 and had previously closed at $20.24.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRNT. Wedbush lowered shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. TD Cowen downgraded Verint Systems from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Rosenblatt Securities lowered Verint Systems from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $20.50 in a research report on Monday, August 25th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Verint Systems in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.50 target price (down from $29.00) on shares of Verint Systems in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.33.

Verint Systems Stock Up 1.3%

The stock’s 50 day moving average price is $20.27 and its 200-day moving average price is $19.79. The stock has a market capitalization of $1.24 billion, a PE ratio of 28.88, a PEG ratio of 0.89 and a beta of 1.52.

Verint Systems (NASDAQ:VRNT) last released its quarterly earnings data on Tuesday, September 2nd. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The firm had revenue of $165.52 million during the quarter, compared to analyst estimates of $200.43 million. Verint Systems had a return on equity of 11.06% and a net margin of 6.87%.The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 earnings per share. On average, analysts forecast that Verint Systems Inc. will post 1.92 earnings per share for the current year.

Institutional Investors Weigh In On Verint Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in Verint Systems during the first quarter valued at $29,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Verint Systems by 2,180.6% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,642 shares of the technology company’s stock worth $32,000 after acquiring an additional 1,570 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Verint Systems by 114.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock valued at $40,000 after acquiring an additional 1,098 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Verint Systems during the first quarter worth $40,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Verint Systems during the third quarter valued at $50,000. 94.95% of the stock is currently owned by hedge funds and other 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.