Verint Systems (NASDAQ:VRNT) Sees Large Volume Increase – Should You Buy?

Verint Systems Inc. (NASDAQ:VRNT) shares saw strong trading volume on Tuesday . 6,164,822 shares traded hands during mid-day 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VRNT shares. Rosenblatt Securities lowered Verint Systems from a “buy” rating to a “hold” rating and dropped their price target for the company from $40.00 to $20.50 in a research report on Monday, August 25th. Needham & Company LLC lowered Verint Systems from a “buy” rating to a “hold” rating in a report on Monday, August 25th. TD Cowen cut shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 25th. Weiss Ratings restated a “sell (d+)” rating on shares of Verint Systems in a research report on Wednesday, October 8th. Finally, Wedbush lowered shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Verint Systems has an average rating of “Hold” and a consensus price target of $26.33.

Verint Systems Price Performance

The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 0.89 and a beta of 1.52. The stock has a 50 day moving average price of $20.28 and a two-hundred day moving average price of $19.82.

Verint Systems (NASDAQ:VRNT) last released its earnings results on Tuesday, September 2nd. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The company had revenue of $165.52 million during the quarter, compared to the consensus estimate of $200.43 million. Verint Systems had a return on equity of 11.06% and a net margin of 6.87%.Verint Systems’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. As a group, research analysts expect that Verint Systems Inc. will post 1.92 earnings per share for the current fiscal year.

Institutional Trading of Verint Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its position in shares of Verint Systems by 7.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 78,316 shares of the technology company’s stock worth $1,398,000 after acquiring an additional 5,707 shares in the last quarter. Mackenzie Financial Corp raised its position in Verint Systems by 53.6% in the 1st quarter. Mackenzie Financial Corp now owns 150,190 shares of the technology company’s stock valued at $2,681,000 after purchasing an additional 52,433 shares during the last quarter. Picton Mahoney Asset Management boosted its stake in Verint Systems by 113,733.3% during the 1st quarter. Picton Mahoney Asset Management now owns 51,225 shares of the technology company’s stock worth $914,000 after purchasing an additional 51,180 shares during the period. Banque Cantonale Vaudoise purchased a new position in Verint Systems during the 1st quarter worth $944,000. Finally, Vanguard Group Inc. grew its position in Verint Systems by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 7,819,401 shares of the technology company’s stock worth $139,576,000 after purchasing an additional 55,918 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

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.