Evercore ISI Cuts Verint Systems (NASDAQ:VRNT) Price Target to $23.00

Verint Systems (NASDAQ:VRNT) had its price objective lowered by Evercore ISI from $34.00 to $23.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an in-line rating on the technology company’s stock.

Several other equities research analysts have also issued reports on VRNT. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Jefferies Financial Group increased their price target on Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Verint Systems in a research report on Wednesday, January 15th. Finally, Needham & Company LLC cut their price objective on Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.33.

Verint Systems Stock Down 4.7 %

Shares of VRNT stock opened at $17.85 on Thursday. Verint Systems has a 12-month low of $17.64 and a 12-month high of $38.17. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $23.75 and a 200-day moving average of $24.68. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 0.97 and a beta of 1.29.

Verint Systems (NASDAQ:VRNT) last released its quarterly earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.28). The firm 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 business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. As a group, equities research analysts predict that Verint Systems will post 1.92 earnings per share for the current fiscal year.

Institutional Trading of Verint Systems

A number of hedge funds have recently modified their holdings of VRNT. State Street Corp grew its position in shares of Verint Systems by 1.5% in the third quarter. State Street Corp now owns 1,573,801 shares of the technology company’s stock valued at $39,864,000 after purchasing an additional 23,400 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Verint Systems in the fourth quarter valued at about $5,276,000. Geode Capital Management LLC grew its stake in shares of Verint Systems by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,500,087 shares of the technology company’s stock valued at $38,004,000 after acquiring an additional 4,034 shares in the last quarter. Quantbot Technologies LP bought a new position in Verint Systems during the third quarter worth about $58,000. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in Verint Systems by 32.4% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 775,869 shares of the technology company’s stock worth $21,298,000 after purchasing an additional 189,860 shares in the last quarter. Institutional investors and hedge funds 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.