Verint Systems (NASDAQ:VRNT) Earns “Buy” Rating from Needham & Company LLC

Verint Systems (NASDAQ:VRNT)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $40.00 price objective on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 58.54% from the company’s current price.

Several other research firms also recently issued reports on VRNT. Wedbush reaffirmed an “outperform” rating and set a $38.00 price target on shares of Verint Systems in a research note on Thursday, September 26th. Jefferies Financial Group lifted their target price on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, December 6th. StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Verint Systems in a research note on Thursday, December 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Verint Systems has an average rating of “Moderate Buy” and a consensus price target of $35.67.

Verint Systems Trading Up 0.8 %

Shares of VRNT stock opened at $25.23 on Friday. 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 market capitalization of $1.57 billion, a P/E ratio of 26.84, a P/E/G ratio of 1.25 and a beta of 1.24. Verint Systems has a twelve month low of $21.27 and a twelve month high of $38.17. The stock’s fifty day simple moving average is $26.21 and its 200 day simple moving average is $27.89.

Insiders Place Their Bets

In related news, insider Peter Fante sold 16,233 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $27.52, for a total value of $446,732.16. Following the transaction, the insider now directly owns 73,314 shares of the company’s stock, valued at approximately $2,017,601.28. The trade was a 18.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Grant A. Highlander sold 12,880 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $29.25, for a total transaction of $376,740.00. Following the transaction, the chief financial officer now owns 117,137 shares of the company’s stock, valued at approximately $3,426,257.25. The trade was a 9.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its stake in shares of Verint Systems by 15.0% during the 2nd quarter. Rhumbline Advisers now owns 106,134 shares of the technology company’s stock valued at $3,418,000 after buying an additional 13,817 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Verint Systems by 4,185,900.0% during the 2nd quarter. Acadian Asset Management LLC now owns 41,860 shares of the technology company’s stock valued at $1,345,000 after purchasing an additional 41,859 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Verint Systems during the 2nd quarter worth about $138,000. Choreo LLC bought a new position in Verint Systems in the 2nd quarter worth about $448,000. Finally, American Century Companies Inc. grew its holdings in Verint Systems by 20.0% during the 2nd quarter. American Century Companies Inc. now owns 85,766 shares of the technology company’s stock valued at $2,762,000 after buying an additional 14,308 shares in the last quarter. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

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.