Verint Systems (NASDAQ:VRNT) Price Target Lowered to $30.00 at Needham & Company LLC

Verint Systems (NASDAQ:VRNT) had its price target cut by Needham & Company LLC from $40.00 to $30.00 in a research note issued to investors on Thursday, MarketBeat reports. They currently have a buy rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Verint Systems in a report on Wednesday, January 15th. StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group increased their price objective on shares of 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 assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.67.

Verint Systems Price Performance

NASDAQ:VRNT opened at $18.73 on Thursday. Verint Systems has a 52 week low of $18.17 and a 52 week high of $38.17. 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 firm’s 50-day simple moving average is $23.88 and its 200 day simple moving average is $24.74. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 0.97 and a beta of 1.29.

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

Hedge Funds Weigh In On Verint Systems

Institutional investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd bought a new stake in shares of Verint Systems during the fourth quarter worth $43,000. Parkside Financial Bank & Trust bought a new stake in Verint Systems during the 4th quarter worth $52,000. Headlands Technologies LLC bought a new stake in Verint Systems during the 4th quarter worth $52,000. Sterling Capital Management LLC raised its position in Verint Systems by 808.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company’s stock valued at $53,000 after purchasing an additional 1,713 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake 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 valued at $54,000 after purchasing an additional 613 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

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.