Wedbush Issues Pessimistic Forecast for Verint Systems (NASDAQ:VRNT) Stock Price

Verint Systems (NASDAQ:VRNT) had its price objective decreased by Wedbush from $38.00 to $30.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Wedbush’s target price would indicate a potential upside of 64.20% from the company’s previous close.

VRNT has been the subject of several other research reports. Needham & Company LLC reduced their price objective on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday. Evercore ISI cut their target price on Verint Systems from $34.00 to $23.00 and set an “in-line” rating on the stock in a report on Thursday. Jefferies Financial Group boosted their price target on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. StockNews.com lowered Verint Systems from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Royal Bank of Canada reduced their target price on Verint Systems from $36.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.33.

Verint Systems Stock Down 2.5 %

Shares of VRNT traded down $0.46 during midday trading on Friday, reaching $18.27. 96,925 shares of the stock were exchanged, compared to its average volume of 745,907. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 19.44, 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 has a 12-month low of $18.14 and a 12-month high of $38.17. The firm has a 50 day simple moving average of $23.88 and a 200-day simple moving average of $24.74.

Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings data on Wednesday, March 26th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.28). The business had revenue of $253.50 million for the quarter, compared to the consensus estimate of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. Verint Systems’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. Research analysts forecast that Verint Systems will post 1.92 EPS for the current year.

Institutional Trading of Verint Systems

Several hedge funds have recently added to or reduced their stakes in the business. Plato Investment Management Ltd acquired a new position in shares of Verint Systems during the fourth quarter worth approximately $43,000. Parkside Financial Bank & Trust bought a new position in Verint Systems during the fourth quarter worth $52,000. Headlands Technologies LLC acquired a new position in Verint Systems during the 4th quarter valued at $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 valued at $53,000 after purchasing an additional 1,713 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Verint Systems by 45.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock worth $54,000 after purchasing an additional 613 shares during 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.