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

Needham & Company LLC reaffirmed their buy rating on shares of Verint Systems (NASDAQ:VRNT) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $40.00 price target on the technology company’s stock.

Several other analysts have also 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 Thursday, September 5th. Jefferies Financial Group lowered their price objective on shares of Verint Systems from $32.00 to $28.00 and set a hold rating for the company in a research note on Thursday, September 5th. Royal Bank of Canada reaffirmed an outperform rating and set a $36.00 price objective on shares of Verint Systems in a research note on Thursday, September 5th. TD Cowen lowered their price objective on shares of Verint Systems from $40.00 to $36.00 and set a buy rating for the company in a research note on Thursday, September 5th. Finally, Evercore ISI lowered their price objective on shares of Verint Systems from $34.00 to $30.00 and set an in-line rating for the company in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Verint Systems presently has an average rating of Moderate Buy and a consensus price target of $34.67.

Verint Systems Stock Performance

NASDAQ VRNT opened at $25.57 on Wednesday. The company has a 50-day simple moving average of $30.51 and a two-hundred day simple moving average of $31.39. 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 has a 12-month low of $18.41 and a 12-month high of $38.17. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 53.27, a PEG ratio of 1.05 and a beta of 1.24.

Verint Systems (NASDAQ:VRNT) last posted its quarterly 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 16.17%. The business had revenue of $210.17 million for the quarter, compared to analysts’ expectations of $212.81 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts forecast that Verint Systems will post 1.97 EPS for the current year.

Insider Buying and Selling

In related news, CFO Grant A. Highlander sold 3,389 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.85, for a total value of $87,605.65. Following the completion of the transaction, the chief financial officer now directly owns 131,267 shares of the company’s stock, valued at $3,393,251.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Grant A. Highlander sold 3,389 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.85, for a total value of $87,605.65. Following the completion of the transaction, the chief financial officer now directly owns 131,267 shares of the company’s stock, valued at $3,393,251.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Fante sold 6,330 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold a total of 33,811 shares of company stock valued at $874,014 over the last three months. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Verint Systems

A number of institutional investors and hedge funds have recently made changes to their positions in VRNT. Janney Montgomery Scott LLC bought a new position in shares of Verint Systems during the fourth quarter valued at approximately $980,000. Norges Bank purchased a new stake in shares of Verint Systems during the fourth quarter valued at approximately $18,601,000. Quest Partners LLC purchased a new stake in shares of Verint Systems during the fourth quarter valued at approximately $68,000. Hsbc Holdings PLC grew its holdings in shares of Verint Systems by 276.4% during the fourth quarter. Hsbc Holdings PLC now owns 88,635 shares of the technology company’s stock valued at $2,407,000 after buying an additional 65,088 shares during the last quarter. Finally, PEAK6 Investments LLC grew its holdings in shares of Verint Systems by 2,518.2% during the fourth quarter. PEAK6 Investments LLC now owns 81,857 shares of the technology company’s stock valued at $2,213,000 after buying an additional 85,242 shares during the last quarter. 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.