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

Verint Systems (NASDAQ:VRNT)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They presently have a $36.00 target price on the technology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 47.78% from the stock’s current price.

A number of other research firms also recently weighed in 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. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Verint Systems in a report on Friday, January 10th. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group upped their price target on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Verint Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

Verint Systems Price Performance

NASDAQ VRNT opened at $24.36 on Wednesday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.09 and a beta of 1.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28. The company has a 50 day simple moving average of $26.37 and a 200-day simple moving average of $27.75. Verint Systems has a 52-week low of $21.27 and a 52-week high of $38.17.

Insider Activity

In other news, insider Peter Fante sold 16,233 shares of Verint Systems stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $27.52, for a total transaction of $446,732.16. Following the sale, the insider now owns 73,314 shares of the company’s stock, valued at approximately $2,017,601.28. This trade represents a 18.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Grant A. Highlander sold 12,880 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $29.25, for a total value of $376,740.00. Following the completion of the transaction, the chief financial officer now directly owns 117,137 shares of the company’s stock, valued at approximately $3,426,257.25. This trade represents a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Verint Systems

A number of hedge funds have recently made changes to their positions in VRNT. Rhumbline Advisers increased its stake in Verint Systems by 15.0% in the second quarter. Rhumbline Advisers now owns 106,134 shares of the technology company’s stock valued at $3,418,000 after acquiring an additional 13,817 shares during the period. American Century Companies Inc. grew its stake in shares of Verint Systems by 20.0% in the 2nd quarter. American Century Companies Inc. now owns 85,766 shares of the technology company’s stock valued at $2,762,000 after purchasing an additional 14,308 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Verint Systems by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,925 shares of the technology company’s stock worth $61,792,000 after buying an additional 73,441 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Verint Systems during the 2nd quarter worth approximately $619,000. Finally, L & S Advisors Inc acquired a new stake in Verint Systems in the 2nd quarter valued at $1,603,000. 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.