Needham & Company LLC Reiterates “Buy” Rating for Verint Systems (NASDAQ:VRNT)

Verint Systems (NASDAQ:VRNT)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They presently have a $40.00 target price on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 52.61% from the company’s current price.

A number of other equities research analysts also recently commented on VRNT. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Verint Systems in a report on Wednesday, June 5th. StockNews.com raised shares of Verint Systems from a “hold” rating to a “buy” rating in a report on Thursday. Three equities research 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.17.

Verint Systems Trading Down 1.2 %

VRNT opened at $26.21 on Thursday. Verint Systems has a one year low of $18.41 and a one year high of $38.17. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 54.61, a P/E/G ratio of 1.25 and a beta of 1.24. The stock’s 50 day moving average price is $32.46 and its 200-day moving average price is $31.95. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.30 and a current ratio of 1.34.

Verint Systems (NASDAQ:VRNT) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). Verint Systems had a net margin of 6.78% and a return on equity of 16.27%. The company had revenue of $210.17 million for the quarter, compared to the consensus estimate of $212.81 million. During the same period last year, the business posted $0.22 EPS. The firm’s revenue was up .0% compared to the same quarter last year. On average, equities analysts forecast that Verint Systems will post 1.99 EPS for the current year.

Insider Activity at Verint Systems

In related news, insider Peter Fante sold 4,417 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $36.60, for a total value of $161,662.20. Following the transaction, the insider now directly owns 98,975 shares of the company’s stock, valued at approximately $3,622,485. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Dan Bodner sold 375,000 shares of the firm’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 transaction of $12,660,000.00. Following the completion of the sale, the chief executive officer now owns 609,764 shares in the company, valued at approximately $20,585,632.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Fante sold 4,417 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 98,975 shares of the company’s stock, valued at approximately $3,622,485. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Verint Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP acquired a new stake in Verint Systems during the 4th quarter worth $34,172,000. Norges Bank acquired a new stake in Verint Systems during the 4th quarter worth $18,601,000. Mesirow Institutional Investment Management Inc. acquired a new stake in Verint Systems during the 1st quarter worth $14,675,000. Victory Capital Management Inc. increased its stake in Verint Systems by 5.9% in the second quarter. Victory Capital Management Inc. now owns 4,143,227 shares of the technology company’s stock valued at $133,412,000 after purchasing an additional 232,499 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in Verint Systems by 35.1% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 814,959 shares of the technology company’s stock valued at $26,242,000 after purchasing an additional 211,570 shares during the period. Hedge funds and other institutional investors own 94.95% of the company’s stock.

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.