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

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

Other equities research analysts have also issued research reports about the company. StockNews.com upgraded Verint Systems from a hold rating to a buy rating 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 for the company in a report on Thursday, September 5th. Jefferies Financial Group reduced their price objective on shares of Verint Systems from $32.00 to $28.00 and set a hold rating on the stock in a research note on Thursday, September 5th. Evercore ISI decreased their price objective on shares of Verint Systems from $34.00 to $30.00 and set an in-line rating for the company in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $36.00 price target on shares of Verint Systems in a research report on Thursday, September 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Verint Systems currently has a consensus rating of Moderate Buy and a consensus target price of $34.67.

Verint Systems Price Performance

Shares of VRNT opened at $25.57 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 0.49. The stock has a market cap of $1.58 billion, a PE ratio of 53.27, a PEG ratio of 1.05 and a beta of 1.24. Verint Systems has a 12-month low of $18.41 and a 12-month high of $38.17. The business has a 50-day simple moving average of $30.51 and a two-hundred day simple moving average of $31.39.

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

Insiders Place Their Bets

In other news, insider Peter Fante sold 6,330 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.85, for a total transaction of $163,630.50. Following the transaction, 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 available through the SEC website. In other news, insider Peter Fante sold 6,330 shares of the business’s 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 $163,630.50. Following the completion of the sale, the insider now owns 91,334 shares in the company, valued at $2,360,983.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Grant A. Highlander sold 3,389 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $25.85, for a total value of $87,605.65. Following the completion of the transaction, the chief financial officer now owns 131,267 shares in the company, valued at $3,393,251.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,811 shares of company stock worth $874,014. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC bought a new position in Verint Systems in the 4th quarter valued at about $980,000. Norges Bank bought a new position in shares of Verint Systems in the fourth quarter valued at approximately $18,601,000. Quest Partners LLC purchased a new position in shares of Verint Systems during the fourth quarter valued at approximately $68,000. Hsbc Holdings PLC grew its holdings in Verint Systems by 276.4% during the fourth quarter. Hsbc Holdings PLC now owns 88,635 shares of the technology company’s stock worth $2,407,000 after buying an additional 65,088 shares in the last quarter. Finally, PEAK6 Investments LLC grew its holdings in Verint Systems by 2,518.2% during the fourth quarter. PEAK6 Investments LLC now owns 81,857 shares of the technology company’s stock worth $2,213,000 after buying an additional 85,242 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Verint Systems Company Profile

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.