Verint Systems (NASDAQ:VRNT) Price Target Lowered to $23.00 at Evercore ISI

Verint Systems (NASDAQ:VRNT) had its target price dropped by Evercore ISI from $34.00 to $23.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “in-line” rating on the technology company’s stock. Evercore ISI’s target price would indicate a potential upside of 19.42% from the stock’s current price.

Several other equities analysts also recently weighed in on VRNT. Needham & Company LLC cut their price target on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Verint Systems in a research note on Wednesday, January 15th. Jefferies Financial Group boosted their target price on shares of Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Finally, StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Verint Systems presently has an average rating of “Moderate Buy” and a consensus target price of $31.67.

Verint Systems Stock Performance

Verint Systems stock traded down $2.36 during mid-day trading on Thursday, reaching $19.26. 1,237,226 shares of the company traded hands, compared to its average volume of 738,970. Verint Systems has a fifty-two week low of $18.97 and a fifty-two week high of $38.17. The firm’s fifty day moving average is $23.99 and its two-hundred day moving average is $24.79. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 20.49, 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 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). The firm had revenue of $253.50 million for the quarter, compared to analyst estimates of $276.82 million. Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. On average, equities research analysts expect that Verint Systems will post 1.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VRNT. Plato Investment Management Ltd purchased a new position in Verint Systems during the fourth quarter worth approximately $43,000. Headlands Technologies LLC purchased a new position in shares of Verint Systems during the 4th quarter valued at approximately $52,000. Parkside Financial Bank & Trust acquired a new stake in Verint Systems in the 4th quarter valued at $52,000. Sterling Capital Management LLC increased its holdings in Verint Systems by 808.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company’s stock worth $53,000 after acquiring an additional 1,713 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Verint Systems by 45.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock worth $54,000 after acquiring an additional 613 shares during the period. Institutional investors and hedge funds 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.