Verint Systems (NASDAQ:VRNT) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Verint Systems (NASDAQ:VRNT) from a buy rating to a hold rating in a report issued on Monday morning.

Several other brokerages also recently commented on VRNT. Needham & Company LLC restated a buy rating and issued a $40.00 target price on shares of Verint Systems in a research note on Wednesday, July 24th. Royal Bank of Canada restated an outperform rating and issued a $36.00 target price on shares of Verint Systems in a research note on Wednesday, June 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $35.20.

Verint Systems Stock Up 5.0 %

VRNT opened at $33.09 on Monday. Verint Systems has a fifty-two week low of $18.41 and a fifty-two week high of $38.17. 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 firm’s fifty day moving average price is $33.53 and its two-hundred day moving average price is $31.89. The company has a market capitalization of $2.04 billion, a P/E ratio of 68.94, a P/E/G ratio of 1.35 and a beta of 1.26.

Verint Systems (NASDAQ:VRNT) last issued its 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 net margin of 5.52% and a return on equity of 16.56%. The firm had revenue of $221.28 million during the quarter, compared to analyst estimates of $214.71 million. On average, analysts anticipate that Verint Systems will post 1.99 EPS for the current year.

Insider Activity at Verint Systems

In other Verint Systems news, CEO Dan Bodner sold 375,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $33.76, for a total transaction of $12,660,000.00. Following the completion of the sale, the chief executive officer now directly owns 609,764 shares of the company’s stock, valued at approximately $20,585,632.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director William Kurtz sold 2,110 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 20,193 shares in the company, valued at approximately $737,852.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dan Bodner sold 375,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $33.76, for a total value of $12,660,000.00. Following the completion of the transaction, the chief executive officer now owns 609,764 shares of the company’s stock, valued at $20,585,632.64. The disclosure for this sale can be found here. Insiders sold 381,527 shares of company stock valued at $12,898,762 over the last ninety days. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Verint Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. Scientech Research LLC acquired a new position in shares of Verint Systems in the 2nd quarter valued at approximately $1,181,000. The Manufacturers Life Insurance Company increased its position in Verint Systems by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 35,427 shares of the technology company’s stock worth $1,141,000 after acquiring an additional 1,295 shares during the period. Millennium Management LLC raised its stake in Verint Systems by 96.5% in the 2nd quarter. Millennium Management LLC now owns 130,962 shares of the technology company’s stock worth $4,217,000 after purchasing an additional 64,319 shares in the last quarter. Mcmorgan & Co. LLC grew its position in shares of Verint Systems by 12.1% during the 2nd quarter. Mcmorgan & Co. LLC now owns 85,654 shares of the technology company’s stock worth $2,758,000 after purchasing an additional 9,250 shares in the last quarter. Finally, Dark Forest Capital Management LP grew its position in shares of Verint Systems by 77.7% during the 2nd quarter. Dark Forest Capital Management LP now owns 46,252 shares of the technology company’s stock worth $1,489,000 after purchasing an additional 20,217 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.