Verint Systems (NASDAQ:VRNT) Hits New 12-Month Low – Here’s Why

Verint Systems Inc. (NASDAQ:VRNT) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $15.87 and last traded at $16.28, with a volume of 339258 shares. The stock had previously closed at $18.02.

Analyst Ratings Changes

VRNT has been the topic of a number of research analyst reports. Evercore ISI reduced their price target on Verint Systems from $34.00 to $23.00 and set an “in-line” rating on the stock in a report on Thursday, March 27th. Jefferies Financial Group boosted their target price on Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, December 6th. StockNews.com cut shares of Verint Systems from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Wedbush decreased their price objective on shares of Verint Systems from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, March 28th. Finally, Royal Bank of Canada cut their target price on shares of Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.33.

Verint Systems Stock Performance

The company has a market capitalization of $944.50 million, a PE ratio of 16.17, a PEG ratio of 0.97 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The business’s 50-day moving average is $22.94 and its 200-day moving average is $24.38.

Verint Systems (NASDAQ:VRNT) last released its earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.28). The business had revenue of $253.50 million for the quarter, compared to analysts’ expectations of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. Verint Systems’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 earnings per share. On average, research analysts anticipate that Verint Systems Inc. will post 1.92 earnings per share for the current year.

Institutional Trading of Verint Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mackenzie Financial Corp boosted its stake in Verint Systems by 142.6% during the 4th quarter. Mackenzie Financial Corp now owns 97,757 shares of the technology company’s stock valued at $2,683,000 after purchasing an additional 57,465 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new position in shares of Verint Systems during the fourth quarter valued at approximately $768,000. ProShare Advisors LLC lifted its position in Verint Systems by 32.4% during the fourth quarter. ProShare Advisors LLC now owns 22,769 shares of the technology company’s stock valued at $625,000 after purchasing an additional 5,571 shares during the period. Man Group plc purchased a new stake in Verint Systems in the fourth quarter worth approximately $221,000. Finally, Millennium Management LLC grew its position in Verint Systems by 62.1% in the 4th quarter. Millennium Management LLC now owns 516,438 shares of the technology company’s stock worth $14,176,000 after purchasing an additional 197,893 shares during the period. 94.95% of the stock is currently 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.