Brokerages Set Verint Systems Inc. (NASDAQ:VRNT) Target Price at $35.67

Shares of Verint Systems Inc. (NASDAQ:VRNT) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $35.67.

VRNT has been the subject of several recent analyst reports. StockNews.com downgraded Verint Systems from a “buy” rating to a “hold” rating in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Verint Systems in a research report on Friday, January 10th. Jefferies Financial Group raised their target price 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Verint Systems in a report on Wednesday, January 15th.

Verint Systems Price Performance

Shares of VRNT stock opened at $25.68 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47. Verint Systems has a 12-month low of $21.27 and a 12-month high of $38.17. The firm has a fifty day moving average of $26.71 and a 200-day moving average of $26.86. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 1.00 and a beta of 1.24.

Insider Activity

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

Hedge Funds Weigh In On Verint Systems

Several hedge funds and other institutional investors have recently made changes to their positions in VRNT. Quarry LP raised its position in Verint Systems by 160.9% during the second quarter. Quarry LP now owns 793 shares of the technology company’s stock worth $26,000 after acquiring an additional 489 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of Verint Systems in the 4th quarter valued at about $43,000. Parkside Financial Bank & Trust acquired a new stake in Verint Systems in the 4th quarter valued at about $52,000. PNC Financial Services Group Inc. lifted its stake in Verint Systems by 45.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock valued at $54,000 after purchasing an additional 613 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Verint Systems during the third quarter worth about $58,000. 94.95% of the stock is 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.