Verint Systems (NASDAQ:VRNT) Price Target Cut to $30.00 by Analysts at Wedbush

Verint Systems (NASDAQ:VRNT) had its target price cut by Wedbush from $38.00 to $30.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other research firms also recently issued reports on VRNT. Needham & Company LLC decreased their target price on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday. Royal Bank of Canada lowered their target price on Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday. Evercore ISI reduced their price target on Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a research report on Thursday. StockNews.com lowered Verint Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Jefferies Financial Group lifted their target price on shares of Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.33.

Verint Systems Stock Performance

Shares of VRNT opened at $17.85 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The stock has a 50-day moving average of $23.75 and a two-hundred day moving average of $24.69. The stock has a market cap of $1.11 billion, a P/E ratio of 18.99, a P/E/G ratio of 0.97 and a beta of 1.29. Verint Systems has a one year low of $17.64 and a one year high of $38.17.

Verint Systems (NASDAQ:VRNT) last released its earnings results on Wednesday, March 26th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The firm had revenue of $253.50 million for the quarter, compared to analyst estimates of $276.82 million. During the same period last year, the firm earned $1.07 EPS. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts predict that Verint Systems will post 1.92 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new position in Verint Systems during the fourth quarter worth $43,000. Parkside Financial Bank & Trust acquired a new position in shares of Verint Systems during the 4th quarter worth about $52,000. Headlands Technologies LLC purchased a new position in Verint Systems in the 4th quarter valued at about $52,000. Sterling Capital Management LLC boosted its holdings in Verint Systems by 808.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company’s stock worth $53,000 after buying an additional 1,713 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Verint Systems by 45.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock worth $54,000 after buying an additional 613 shares in the last quarter. 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.