Verint Systems (NASDAQ:VRNT) Given Buy Rating at Needham & Company LLC

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

A number of other brokerages have also recently weighed in on VRNT. Jefferies Financial Group cut their price objective on shares of Verint Systems from $32.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Wedbush reiterated an “outperform” rating and set a $38.00 price objective on shares of Verint Systems in a research note on Thursday, September 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Verint Systems in a research note on Thursday, September 5th. Finally, TD Cowen cut their price objective on Verint Systems from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.67.

Verint Systems Trading Down 4.2 %

NASDAQ VRNT opened at $30.63 on Thursday. The firm has a market capitalization of $1.90 billion, a PE ratio of 32.59, a P/E/G ratio of 1.10 and a beta of 1.28. The stock’s 50 day moving average is $23.86 and its 200 day moving average is $28.86. Verint Systems has a twelve month low of $21.27 and a twelve month high of $38.17. 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 announced its 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). The business had revenue of $210.17 million for the quarter, compared to the consensus estimate of $212.81 million. Verint Systems had a net margin of 8.49% and a return on equity of 16.04%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. Research analysts forecast that Verint Systems will post 1.97 earnings per share for the current fiscal year.

Insider Activity at Verint Systems

In related news, CFO Grant A. Highlander sold 3,389 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.85, for a total transaction of $87,605.65. Following the sale, the chief financial officer now owns 131,267 shares of the company’s stock, valued at $3,393,251.95. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Peter Fante sold 6,330 shares of Verint Systems stock in a transaction 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 transaction, the insider now directly owns 91,334 shares of the company’s stock, valued at $2,360,983.90. The trade was a 6.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,811 shares of company stock valued at $874,014. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Verint Systems

Several large investors have recently added to or reduced their stakes in VRNT. Quarry LP boosted its holdings in shares of Verint Systems by 160.9% in the 2nd quarter. Quarry LP now owns 793 shares of the technology company’s stock worth $26,000 after purchasing an additional 489 shares during the period. Innealta Capital LLC bought a new stake in Verint Systems in the second quarter worth $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Verint Systems during the second quarter worth $43,000. Quantbot Technologies LP bought a new position in Verint Systems during the third quarter valued at $58,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Verint Systems in the second quarter valued at $138,000. 94.95% of the stock is owned by institutional investors.

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.