Verint Systems (NASDAQ:VRNT) Price Target Cut to $29.00 by Analysts at Royal Bank of Canada

Verint Systems (NASDAQ:VRNT) had its target price cut by Royal Bank of Canada from $36.00 to $29.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other analysts have also recently weighed in on VRNT. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Needham & Company LLC dropped their price objective on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday. Evercore ISI decreased their price target on Verint Systems from $34.00 to $23.00 and set an “in-line” rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group lifted their target price on shares of Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.67.

Verint Systems Stock Down 13.4 %

Shares of Verint Systems stock opened at $18.73 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.17 billion, a P/E ratio of 19.93, a P/E/G ratio of 0.97 and a beta of 1.29. The stock has a 50-day moving average price of $23.88 and a 200 day moving average price of $24.74. Verint Systems has a 1 year low of $18.17 and a 1 year high of $38.17.

Verint Systems (NASDAQ:VRNT) last issued its earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.28). The firm had revenue of $253.50 million during the quarter, compared to analyst estimates of $276.82 million. Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.07 earnings per share. As a group, analysts expect that Verint Systems will post 1.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Verint Systems

Institutional investors have recently modified their holdings of the business. Clark Capital Management Group Inc. increased its holdings in Verint Systems by 0.4% in the fourth quarter. Clark Capital Management Group Inc. now owns 142,398 shares of the technology company’s stock valued at $3,909,000 after purchasing an additional 515 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Verint Systems by 45.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock worth $54,000 after acquiring an additional 613 shares in the last quarter. Philadelphia Trust Co. raised its stake in shares of Verint Systems by 0.9% in the 4th quarter. Philadelphia Trust Co. now owns 106,800 shares of the technology company’s stock valued at $2,932,000 after purchasing an additional 1,000 shares during the period. Swiss National Bank boosted its position in Verint Systems by 1.2% during the 4th quarter. Swiss National Bank now owns 121,900 shares of the technology company’s stock worth $3,346,000 after acquiring an additional 1,400 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Verint Systems by 75.0% during the 4th quarter. KBC Group NV now owns 3,380 shares of the technology company’s stock worth $93,000 after buying an additional 1,449 shares during the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

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.