Royal Bank of Canada Reiterates Outperform Rating for Verint Systems (NASDAQ:VRNT)

Verint Systems (NASDAQ:VRNT)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $36.00 price target on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 17.53% from the company’s current price.

VRNT has been the subject of a number of other reports. TD Cowen dropped their target price on shares of Verint Systems from $40.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Wedbush reiterated an “outperform” rating and set a $38.00 target price on shares of Verint Systems in a report on Thursday, September 26th. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. 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 report on Thursday, September 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of Verint Systems in a report on Thursday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

Verint Systems Stock Performance

NASDAQ VRNT opened at $30.63 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 0.49. The company has a 50-day simple moving average of $23.75 and a two-hundred day simple moving average of $28.90. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 1.10 and a beta of 1.28. Verint Systems has a 12-month low of $21.27 and a 12-month high of $38.17.

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

Insider Buying and Selling at Verint Systems

In other Verint Systems news, CFO Grant A. Highlander sold 3,389 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.85, for a total transaction of $87,605.65. Following the completion of the transaction, the chief financial officer now owns 131,267 shares of the company’s stock, valued at approximately $3,393,251.95. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dan Bodner sold 16,932 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.85, for a total transaction of $437,692.20. Following the transaction, the chief executive officer now directly owns 592,832 shares of the company’s stock, valued at $15,324,707.20. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,811 shares of company stock valued at $874,014. 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 the business. Victory Capital Management Inc. increased its position in shares of Verint Systems by 5.9% during the second quarter. Victory Capital Management Inc. now owns 4,143,227 shares of the technology company’s stock valued at $133,412,000 after acquiring an additional 232,499 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Verint Systems by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,918,925 shares of the technology company’s stock valued at $61,792,000 after acquiring an additional 73,441 shares in the last quarter. State Street Corp increased its position in shares of Verint Systems by 1.5% during the third quarter. State Street Corp now owns 1,573,801 shares of the technology company’s stock valued at $39,864,000 after acquiring an additional 23,400 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Verint Systems by 26.5% during the third quarter. Fisher Asset Management LLC now owns 1,516,409 shares of the technology company’s stock valued at $38,411,000 after acquiring an additional 317,804 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Verint Systems by 0.3% during 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. 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.