Verint Systems’ (VRNT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Verint Systems (NASDAQ:VRNT) in a research note released on Thursday,Benzinga reports. They currently have a $30.00 price target on the technology company’s stock.

A number of other brokerages have also recently commented on VRNT. Wall Street Zen cut Verint Systems from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Cowen reissued a “buy” rating on shares of Verint Systems in a report on Wednesday. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of Verint Systems in a report on Wednesday. Royal Bank of Canada decreased their price objective on Verint Systems from $36.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, March 27th. Finally, Evercore ISI decreased their price objective on Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a report on Thursday, March 27th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.33.

Verint Systems Stock Performance

Shares of VRNT opened at $19.09 on Thursday. The stock has a 50-day moving average of $17.13 and a two-hundred day moving average of $22.26. Verint Systems has a one year low of $14.15 and a one year high of $38.17. 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 $1.15 billion, a P/E ratio of 20.31, a P/E/G ratio of 0.97 and a beta of 1.41.

Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings results on Wednesday, June 4th. The technology company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The firm had revenue of $173.62 million for the quarter, compared to analyst estimates of $194.61 million. During the same period in the prior year, the firm posted $0.59 EPS. The business’s revenue was down 6.0% compared to the same quarter last year. As a group, research analysts predict that Verint Systems will post 1.92 EPS for the current year.

Insider Activity

In related news, Director Stephen J. Gold sold 2,744 shares of Verint Systems stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $16.07, for a total value of $44,096.08. Following the completion of the transaction, the director now owns 28,473 shares in the company, valued at $457,561.11. The trade was a 8.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Fante sold 9,439 shares of Verint Systems stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $16.50, for a total value of $155,743.50. Following the completion of the transaction, the insider now owns 20,450 shares of the company’s stock, valued at approximately $337,425. This represents a 31.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Verint Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Plato Investment Management Ltd purchased a new position in shares of Verint Systems in the 4th quarter valued at about $43,000. Strs Ohio purchased a new stake in Verint Systems during the 1st quarter worth approximately $29,000. Headlands Technologies LLC purchased a new stake in Verint Systems during the 4th quarter worth approximately $52,000. Parkside Financial Bank & Trust purchased a new stake in Verint Systems during the 4th quarter worth approximately $52,000. Finally, Sterling Capital Management LLC increased its stake in Verint Systems by 808.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company’s stock worth $53,000 after buying an additional 1,713 shares in 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.