Royal Bank of Canada Has Lowered Expectations for Verint Systems (NASDAQ:VRNT) Stock Price

Verint Systems (NASDAQ:VRNT) had its target price decreased by stock analysts at Royal Bank of Canada from $36.00 to $29.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 62.46% from the stock’s current price.

A number of other research analysts have also issued reports on VRNT. Jefferies Financial Group boosted their price target on shares of Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Needham & Company LLC cut their target price on Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Evercore ISI cut their price objective on Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.33.

Verint Systems Stock Down 4.7 %

VRNT opened at $17.85 on Thursday. The business has a 50 day moving average price of $23.75 and a two-hundred day moving average price of $24.69. Verint Systems has a 52 week low of $17.64 and a 52 week high of $38.17. The company has a market cap of $1.11 billion, a PE ratio of 18.99, a P/E/G ratio of 0.97 and a beta of 1.29. 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 released its quarterly earnings results on Wednesday, March 26th. The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.28). Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The company had revenue of $253.50 million for the quarter, compared to analysts’ expectations of $276.82 million. During the same quarter last year, the company earned $1.07 EPS. Verint Systems’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Verint Systems will post 1.92 EPS for the current year.

Institutional Investors Weigh In On Verint Systems

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp raised its holdings in Verint Systems by 142.6% during the fourth quarter. Mackenzie Financial Corp now owns 97,757 shares of the technology company’s stock worth $2,683,000 after purchasing an additional 57,465 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new position in shares of Verint Systems in the fourth quarter valued at $768,000. ProShare Advisors LLC raised its stake in shares of Verint Systems by 32.4% during the 4th quarter. ProShare Advisors LLC now owns 22,769 shares of the technology company’s stock worth $625,000 after buying an additional 5,571 shares during the last quarter. Man Group plc acquired a new position in shares of Verint Systems during the 4th quarter worth $221,000. Finally, Millennium Management LLC boosted its position in shares of Verint Systems by 62.1% in the 4th quarter. Millennium Management LLC now owns 516,438 shares of the technology company’s stock worth $14,176,000 after buying an additional 197,893 shares in the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

About Verint Systems

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.