Verint Systems (NASDAQ:VRNT) Given New $23.00 Price Target at Evercore ISI

Verint Systems (NASDAQ:VRNT) had its price objective reduced by Evercore ISI from $34.00 to $23.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an in-line rating on the technology company’s stock.

A number of other research firms also recently issued reports on VRNT. Needham & Company LLC decreased their price objective on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Verint Systems in a research report on Wednesday, January 15th. Jefferies Financial Group lifted their price objective on shares of Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.67.

Verint Systems Stock Down 13.4 %

VRNT stock opened at $18.73 on Thursday. Verint Systems has a fifty-two week low of $18.17 and a fifty-two week high of $38.17. The stock’s 50 day simple moving average is $23.88 and its 200 day simple moving average is $24.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The company has a market cap of $1.17 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29.

Verint Systems (NASDAQ:VRNT) last posted its earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). The company had revenue of $253.50 million during 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%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. On average, research analysts expect that Verint Systems will post 1.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VRNT. State Street Corp lifted its holdings 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 purchasing an additional 23,400 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Verint Systems by 0.3% during the 3rd 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 during the period. Raymond James Financial Inc. bought a new position in shares of Verint Systems during the 4th quarter valued at approximately $5,276,000. Quantbot Technologies LP bought a new stake in shares of Verint Systems during the 3rd quarter valued at $58,000. Finally, Fort Washington Investment Advisors Inc. OH grew its position in shares of Verint Systems by 32.4% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 775,869 shares of the technology company’s stock worth $21,298,000 after purchasing an additional 189,860 shares in the last quarter. 94.95% of the stock is currently owned by 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.