Verint Systems (NASDAQ:VRNT) Price Target Cut to $30.00 by Analysts at Needham & Company LLC

Verint Systems (NASDAQ:VRNT) had its price target reduced by Needham & Company LLC from $40.00 to $30.00 in a report published on Thursday, MarketBeat.com reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Verint Systems in a report on Wednesday, January 15th. Finally, Jefferies Financial Group increased their price target on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.67.

Verint Systems Stock Performance

NASDAQ VRNT opened at $18.73 on Thursday. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 0.97 and a beta of 1.29. Verint Systems has a twelve month low of $18.17 and a twelve month high of $38.17. The stock has a fifty day simple moving average of $23.88 and a 200 day simple moving average of $24.74. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47.

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

Institutional Investors Weigh In On Verint Systems

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