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

Verint Systems (NASDAQ:VRNT)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $40.00 price target on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 30.59% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Verint Systems in a research report on Thursday, September 5th. Evercore ISI cut their target price on 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. TD Cowen cut their target price on Verint Systems from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Wedbush restated an “outperform” rating and set a $38.00 target price on shares of Verint Systems in a research note on Thursday, September 26th. Finally, StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Verint Systems currently has an average rating of “Moderate Buy” and an average target price of $35.67.

Verint Systems Trading Down 4.2 %

Shares of NASDAQ:VRNT opened at $30.63 on Thursday. The company has a market capitalization of $1.90 billion, a P/E ratio of 32.29, a P/E/G ratio of 1.10 and a beta of 1.28. Verint Systems has a 1 year low of $21.27 and a 1 year high of $38.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.41 and a quick ratio of 1.36. The business’s 50 day simple moving average is $23.75 and its 200 day simple moving average is $28.90.

Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $210.17 million for the quarter, compared to analyst estimates of $212.81 million. Verint Systems had a return on equity of 16.04% and a net margin of 8.49%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. On average, research analysts anticipate that Verint Systems will post 1.97 EPS for the current fiscal year.

Insider Activity

In other news, CFO Grant A. Highlander sold 3,389 shares of the stock in a transaction on Monday, September 16th. The stock was 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 in the company, valued at approximately $3,393,251.95. This represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dan Bodner sold 16,932 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.85, for a total value of $437,692.20. Following the completion of the transaction, the chief executive officer now owns 592,832 shares of the company’s stock, valued at $15,324,707.20. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,811 shares of company stock worth $874,014. Insiders own 1.70% of the company’s stock.

Institutional Trading of Verint Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP increased its holdings in Verint Systems by 160.9% in the second quarter. Quarry LP now owns 793 shares of the technology company’s stock valued at $26,000 after purchasing an additional 489 shares during the period. Innealta Capital LLC acquired a new stake in Verint Systems in the second quarter valued at $36,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Verint Systems in the second quarter valued at $43,000. Quantbot Technologies LP acquired a new stake in Verint Systems in the third quarter valued at $58,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Verint Systems in the second quarter valued at $138,000. 94.95% of the stock is currently owned by institutional investors and hedge funds.

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.