Verint Systems (NASDAQ:VRNT) Sets New 12-Month Low – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VRNT. Jefferies Financial Group raised their price target on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Evercore ISI reduced their price target on shares of Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a report on Thursday, March 27th. Needham & Company LLC cut their price objective on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. StockNews.com cut shares of Verint Systems from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, Royal Bank of Canada cut their price target on Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.33.

Verint Systems Stock Down 11.3 %

The business’s 50 day moving average is $23.33 and its 200 day moving average is $24.51. 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 stock has a market cap of $992.97 million, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29.

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

Institutional Investors Weigh In On Verint Systems

Several institutional investors have recently made changes to their positions in VRNT. Mackenzie Financial Corp grew its position in Verint Systems by 142.6% in the fourth quarter. Mackenzie Financial Corp now owns 97,757 shares of the technology company’s stock worth $2,683,000 after acquiring an additional 57,465 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in Verint Systems in the fourth quarter worth $768,000. ProShare Advisors LLC boosted its holdings in Verint Systems by 32.4% in the fourth quarter. ProShare Advisors LLC now owns 22,769 shares of the technology company’s stock worth $625,000 after purchasing an additional 5,571 shares in the last quarter. Man Group plc acquired a new position in Verint Systems during the fourth quarter worth $221,000. Finally, Millennium Management LLC raised its holdings in Verint Systems by 62.1% during the fourth quarter. Millennium Management LLC now owns 516,438 shares of the technology company’s stock valued at $14,176,000 after buying an additional 197,893 shares in 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.