Royal Bank of Canada Issues Pessimistic Forecast for Verint Systems (NASDAQ:VRNT) Stock Price

Verint Systems (NASDAQ:VRNT) had its price target reduced by research analysts at Royal Bank of Canada from $36.00 to $29.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 50.57% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Needham & Company LLC cut their target price on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday. Evercore ISI dropped their price target on shares of Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group increased their price objective 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 five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.67.

Verint Systems Price Performance

VRNT traded down $2.36 during midday trading on Thursday, hitting $19.26. The company had a trading volume of 1,237,226 shares, compared to its average volume of 738,970. Verint Systems has a twelve month low of $18.97 and a twelve month high of $38.17. The company has a market capitalization of $1.20 billion, a PE ratio of 20.49, a P/E/G ratio of 0.97 and a beta of 1.29. 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 firm’s 50-day simple moving average is $23.99 and its 200-day simple moving average is $24.79.

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 net margin of 8.49% and a return on equity of 15.79%. The company had revenue of $253.50 million for the quarter, compared to the consensus estimate of $276.82 million. During the same period last year, the company earned $1.07 earnings per share. Verint Systems’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts predict that Verint Systems will post 1.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Verint Systems

Large investors have recently bought and sold shares of the company. Mackenzie Financial Corp grew its holdings in shares of Verint Systems by 142.6% in the 4th quarter. Mackenzie Financial Corp now owns 97,757 shares of the technology company’s stock valued at $2,683,000 after buying an additional 57,465 shares during the period. Sherbrooke Park Advisers LLC bought a new position in Verint Systems during the fourth quarter worth about $768,000. ProShare Advisors LLC lifted its holdings in Verint Systems by 32.4% during the fourth quarter. ProShare Advisors LLC now owns 22,769 shares of the technology company’s stock worth $625,000 after acquiring an additional 5,571 shares in the last quarter. Man Group plc acquired a new position in Verint Systems in the fourth quarter valued at about $221,000. Finally, Millennium Management LLC increased its holdings in shares of Verint Systems by 62.1% in the fourth quarter. Millennium Management LLC now owns 516,438 shares of the technology company’s stock worth $14,176,000 after acquiring an additional 197,893 shares in the last quarter. Institutional investors 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.