Needham & Company LLC Cuts Verint Systems (NASDAQ:VRNT) Price Target to $30.00

Verint Systems (NASDAQ:VRNT) had its price target trimmed by Needham & Company LLC from $40.00 to $30.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other equities research analysts also recently commented on VRNT. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Verint Systems in a report on Wednesday, January 15th. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Jefferies Financial Group upped their target price on Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.33.

Verint Systems Price Performance

Verint Systems stock opened at $17.85 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $23.75 and its 200 day simple moving average is $24.68. Verint Systems has a 52 week low of $17.64 and a 52 week high of $38.17. The firm has a market capitalization of $1.11 billion, a PE ratio of 18.99, a P/E/G ratio of 0.97 and a beta of 1.29.

Verint Systems (NASDAQ:VRNT) last posted its earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The company had revenue of $253.50 million during the quarter, compared to analysts’ expectations of $276.82 million. During the same period in the previous year, the company posted $1.07 EPS. Verint Systems’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts predict that Verint Systems will post 1.92 EPS for the current fiscal year.

Institutional Trading of Verint Systems

Several large investors have recently added to or reduced their stakes in the stock. Clark Capital Management Group Inc. boosted its position in shares of Verint Systems by 0.4% in the fourth quarter. Clark Capital Management Group Inc. now owns 142,398 shares of the technology company’s stock worth $3,909,000 after buying an additional 515 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Verint Systems by 45.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock worth $54,000 after acquiring an additional 613 shares during the period. Philadelphia Trust Co. grew its position in Verint Systems by 0.9% in the fourth quarter. Philadelphia Trust Co. now owns 106,800 shares of the technology company’s stock valued at $2,932,000 after acquiring an additional 1,000 shares in the last quarter. Swiss National Bank raised its stake in shares of Verint Systems by 1.2% during the fourth quarter. Swiss National Bank now owns 121,900 shares of the technology company’s stock valued at $3,346,000 after purchasing an additional 1,400 shares during the period. Finally, KBC Group NV lifted its position in shares of Verint Systems by 75.0% during the fourth quarter. KBC Group NV now owns 3,380 shares of the technology company’s stock worth $93,000 after purchasing an additional 1,449 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.