Verint Systems’ (VRNT) “Buy” Rating Reaffirmed at Needham & Company LLC

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

A number of other brokerages also recently weighed in on VRNT. Evercore ISI cut their price target on shares of Verint Systems from $34.00 to $30.00 and set an in-line rating on the stock in a report on Thursday, September 5th. Jefferies Financial Group reduced their target price on shares of Verint Systems from $32.00 to $28.00 and set a hold rating for the company in a research report on Thursday, September 5th. TD Cowen lowered their price target on shares of Verint Systems from $40.00 to $36.00 and set a buy rating on the stock in a report on Thursday, September 5th. 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 Thursday, September 5th. Finally, StockNews.com raised Verint Systems from a hold rating to a buy rating in a research report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $34.67.

Verint Systems Price Performance

Verint Systems stock opened at $25.57 on Wednesday. Verint Systems has a 52 week low of $18.41 and a 52 week high of $38.17. The company’s 50 day moving average price is $30.51 and its two-hundred day moving average price is $31.39. The stock has a market cap of $1.58 billion, a P/E ratio of 53.27, a P/E/G ratio of 1.05 and a beta of 1.24. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 0.49.

Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). Verint Systems had a return on equity of 16.17% and a net margin of 6.78%. The business had revenue of $210.17 million for the quarter, compared to the consensus estimate of $212.81 million. During the same quarter last year, the business posted $0.22 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. On average, equities analysts predict that Verint Systems will post 1.97 earnings per share for the current year.

Insider Activity at Verint Systems

In related news, President Elan Moriah sold 7,160 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.85, for a total transaction of $185,086.00. Following the sale, the president now directly owns 139,251 shares in the company, valued at approximately $3,599,638.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Peter Fante sold 6,330 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.85, for a total transaction of $163,630.50. Following the sale, the insider now owns 91,334 shares of the company’s stock, valued at approximately $2,360,983.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Elan Moriah sold 7,160 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.85, for a total transaction of $185,086.00. Following the completion of the sale, the president now owns 139,251 shares in the company, valued at $3,599,638.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,811 shares of company stock worth $874,014. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in VRNT. Quarry LP boosted its stake in Verint Systems by 160.9% during the second quarter. Quarry LP now owns 793 shares of the technology company’s stock valued at $26,000 after buying an additional 489 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Verint Systems by 764.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,037 shares of the technology company’s stock valued at $28,000 after acquiring an additional 917 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Verint Systems during the 1st quarter valued at about $30,000. Innealta Capital LLC purchased a new position in shares of Verint Systems during the second quarter worth about $36,000. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of Verint Systems by 173.7% during the first quarter. FinTrust Capital Advisors LLC now owns 1,188 shares of the technology company’s stock worth $39,000 after purchasing an additional 754 shares in the last quarter. 94.95% of the stock is currently 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.