Verint Systems (NASDAQ:VRNT) Price Target Lowered to $28.00 at Jefferies Financial Group

Verint Systems (NASDAQ:VRNT) had its target price reduced by investment analysts at Jefferies Financial Group from $32.00 to $28.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 5.42% from the stock’s current price.

Other analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Verint Systems in a report on Thursday. Evercore ISI lowered their price objective on Verint Systems from $34.00 to $30.00 and set an “in-line” rating on the stock in a research report on Thursday. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Verint Systems in a report on Wednesday, June 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Verint Systems Stock Performance

Shares of NASDAQ:VRNT traded down $3.31 during trading on Thursday, hitting $26.56. 1,389,837 shares of the company were exchanged, compared to its average volume of 624,865. The company has a market cap of $1.64 billion, a PE ratio of 55.33, a P/E/G ratio of 1.32 and a beta of 1.26. Verint Systems has a 52-week low of $18.41 and a 52-week high of $38.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a 50 day moving average of $32.70 and a 200 day moving average of $32.03.

Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $210.17 million for the quarter, compared to analysts’ expectations of $212.81 million. Verint Systems had a return on equity of 16.56% and a net margin of 5.52%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. As a group, equities research analysts predict that Verint Systems will post 1.99 EPS for the current year.

Insider Transactions at Verint Systems

In related news, insider Peter Fante sold 4,417 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $36.60, for a total value of $161,662.20. Following the completion of the sale, the insider now owns 98,975 shares in the company, valued at approximately $3,622,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director William Kurtz sold 2,110 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $36.54, for a total transaction of $77,099.40. Following the transaction, the director now directly owns 20,193 shares of the company’s stock, valued at $737,852.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Fante sold 4,417 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $36.60, for a total value of $161,662.20. Following the completion of the sale, the insider now directly owns 98,975 shares of the company’s stock, valued at approximately $3,622,485. The disclosure for this sale can be found here. In the last three months, insiders sold 381,527 shares of company stock worth $12,898,762. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Verint Systems

A number of large investors have recently bought and sold shares of VRNT. Wellington Management Group LLP purchased a new position in shares of Verint Systems in the fourth quarter worth $34,172,000. Norges Bank purchased a new stake in Verint Systems during the 4th quarter valued at $18,601,000. Mesirow Institutional Investment Management Inc. bought a new stake in Verint Systems in the 1st quarter worth $14,675,000. Victory Capital Management Inc. increased its position in shares of Verint Systems by 5.9% in the second quarter. Victory Capital Management Inc. now owns 4,143,227 shares of the technology company’s stock valued at $133,412,000 after acquiring an additional 232,499 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in shares of Verint Systems by 35.1% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 814,959 shares of the technology company’s stock valued at $26,242,000 after acquiring an additional 211,570 shares during the last quarter. 94.95% of the stock is 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.