Verint Systems (NASDAQ:VRNT) Sets New 1-Year Low - Here's What Happened

Verint Systems Inc. (NASDAQ:VRNT - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $21.22 and last traded at $21.29, with a volume of 360703 shares. The stock had previously closed at $22.21.

Analysts Set New Price Targets

VRNT has been the topic of several research reports. StockNews.com upgraded shares of Verint Systems from a "hold" rating to a "buy" rating in a report on Wednesday. Jefferies Financial Group upped their price objective on shares of Verint Systems from $28.00 to $34.00 and gave the stock a "hold" rating in a report on Friday, December 6th. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 target price on shares of Verint Systems in a report on Friday, January 10th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $36.00 target price on shares of Verint Systems in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.67.

Verint Systems Trading Up 3.6 %

The firm has a market cap of $1.34 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47. The firm's 50-day simple moving average is $24.76 and its 200 day simple moving average is $25.39.

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Insider Transactions at Verint Systems

In other news, CFO Grant A. Highlander sold 12,880 shares of Verint Systems stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $29.25, for a total value of $376,740.00. Following the completion of the transaction, the chief financial officer now owns 117,137 shares in the company, valued at $3,426,257.25. This trade represents a 9.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Fante sold 16,233 shares of Verint Systems stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $27.52, for a total transaction of $446,732.16. Following the completion of the transaction, the insider now owns 73,314 shares of the company's stock, valued at $2,017,601.28. The trade was a 18.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Verint Systems

Several hedge funds have recently bought and sold shares of VRNT. State Street Corp grew its stake in Verint Systems by 1.5% in the 3rd quarter. State Street Corp now owns 1,573,801 shares of the technology company's stock worth $39,864,000 after buying an additional 23,400 shares in the last quarter. Global Alpha Capital Management Ltd. grew its stake in Verint Systems by 22.6% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 1,231,703 shares of the technology company's stock worth $31,199,000 after buying an additional 227,000 shares in the last quarter. Geode Capital Management LLC grew its stake in Verint Systems by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,500,087 shares of the technology company's stock worth $38,004,000 after buying an additional 4,034 shares in the last quarter. Quantbot Technologies LP purchased a new position in Verint Systems in the 3rd quarter worth approximately $58,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Verint Systems by 32.4% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 775,869 shares of the technology company's stock worth $21,298,000 after acquiring an additional 189,860 shares during the last quarter. Hedge funds and other institutional investors own 94.95% of the company's stock.

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.