Verint Systems (NASDAQ:VRNT) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Verint Systems (NASDAQ:VRNT) in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $40.00 price objective on the technology company’s stock.

Several other analysts have also recently commented on the company. Royal Bank of Canada reiterated an outperform rating and set a $36.00 price target on shares of Verint Systems in a research report on Wednesday, June 5th. Oppenheimer reiterated a market perform rating on shares of Verint Systems in a research report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Verint Systems currently has an average rating of Moderate Buy and an average price target of $35.20.

Verint Systems Trading Down 0.6 %

Shares of VRNT stock opened at $35.25 on Wednesday. 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 company has a market cap of $2.18 billion, a price-to-earnings ratio of 73.44, a PEG ratio of 1.48 and a beta of 1.26. The stock has a 50 day simple moving average of $32.93 and a 200-day simple moving average of $31.41. Verint Systems has a 1-year low of $18.41 and a 1-year high of $38.17.

Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). Verint Systems had a return on equity of 16.56% and a net margin of 5.52%. The firm had revenue of $221.28 million for the quarter, compared to analysts’ expectations of $214.71 million. On average, equities research analysts expect that Verint Systems will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Verint Systems

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

Hedge Funds Weigh In On Verint Systems

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in Verint Systems in the 4th quarter valued at about $34,172,000. Norges Bank acquired a new stake in Verint Systems in the 4th quarter valued at about $18,601,000. Mesirow Institutional Investment Management Inc. acquired a new stake in Verint Systems in the 1st quarter valued at about $14,675,000. Fort Washington Investment Advisors Inc. OH raised its position in Verint Systems by 56.0% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 657,489 shares of the technology company’s stock valued at $17,772,000 after purchasing an additional 235,900 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Verint Systems by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 7,367,685 shares of the technology company’s stock valued at $244,239,000 after purchasing an additional 185,105 shares in the last quarter. 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.