Wedbush Issues Pessimistic Forecast for Verint Systems (NASDAQ:VRNT) Stock Price

Verint Systems (NASDAQ:VRNT) had its price objective reduced by equities research analysts at Wedbush from $38.00 to $30.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Wedbush’s price objective would indicate a potential upside of 68.07% from the stock’s current price.

Several other research analysts have also weighed in on VRNT. Needham & Company LLC dropped their target price on Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com cut shares of Verint Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada cut their price target on shares of Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday. Evercore ISI decreased their price objective on shares of Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a report on Thursday. Finally, Jefferies Financial Group raised their target price on Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Verint Systems presently has an average rating of “Moderate Buy” and an average price target of $30.33.

Verint Systems Trading Down 4.7 %

NASDAQ:VRNT opened at $17.85 on Friday. The stock has a market cap of $1.11 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29. Verint Systems has a fifty-two week low of $17.64 and a fifty-two week high of $38.17. 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 stock’s 50-day moving average is $23.75 and its two-hundred day moving average is $24.68.

Verint Systems (NASDAQ:VRNT) last released its quarterly earnings data 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 company had revenue of $253.50 million during the quarter, compared to analyst estimates of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 EPS. As a group, equities research analysts forecast that Verint Systems will post 1.92 earnings per share for the current fiscal year.

Institutional Trading of Verint Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new stake in shares of Verint Systems in the fourth quarter valued at approximately $22,528,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Verint Systems by 491.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 764,498 shares of the technology company’s stock valued at $20,985,000 after buying an additional 635,334 shares during the period. Invenomic Capital Management LP acquired a new stake in Verint Systems during the fourth quarter worth about $14,653,000. Global Alpha Capital Management Ltd. raised its holdings in Verint Systems by 39.5% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,717,703 shares of the technology company’s stock valued at $47,151,000 after acquiring an additional 486,000 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Verint Systems by 48.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,263,502 shares of the technology company’s stock valued at $34,683,000 after acquiring an additional 412,655 shares in the last quarter. 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.