Needham & Company LLC Reiterates “Buy” Rating for Verint Systems (NASDAQ:VRNT)

Verint Systems (NASDAQ:VRNT)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $30.00 price target on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 63.67% from the company’s previous close.

Other research analysts also recently issued reports about the company. Wedbush set a $30.00 target price on Verint Systems and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada reduced their target price on Verint Systems from $36.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, March 27th. Evercore ISI reduced their target price on Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a research note on Thursday, March 27th. Cowen reaffirmed a “buy” rating on shares of Verint Systems in a research note on Wednesday. Finally, Wall Street Zen downgraded Verint Systems from a “buy” rating to a “hold” rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.

Verint Systems Trading Up 2.9%

Verint Systems stock opened at $18.33 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. Verint Systems has a 12 month low of $14.15 and a 12 month high of $38.17. The stock’s 50 day simple moving average is $17.09 and its two-hundred day simple moving average is $22.32. The firm has a market cap of $1.10 billion, a PE ratio of 19.50, a P/E/G ratio of 0.97 and a beta of 1.45.

Verint Systems (NASDAQ:VRNT) last announced its earnings results on Wednesday, June 4th. The technology company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). The business had revenue of $173.62 million for the quarter, compared to analyst estimates of $194.61 million. Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. Analysts anticipate that Verint Systems will post 1.92 earnings per share for the current year.

Insider Activity at Verint Systems

In related news, insider Peter Fante sold 9,439 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $16.50, for a total value of $155,743.50. Following the completion of the transaction, the insider now directly owns 20,450 shares of the company’s stock, valued at approximately $337,425. This represents a 31.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen J. Gold sold 2,744 shares of the stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $16.07, for a total value of $44,096.08. Following the completion of the transaction, the director now directly owns 28,473 shares of the company’s stock, valued at approximately $457,561.11. This represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Verint Systems

A number of hedge funds and other institutional investors have recently modified their holdings of VRNT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Verint Systems by 148.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,175,147 shares of the technology company’s stock worth $38,826,000 after acquiring an additional 1,299,085 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Verint Systems in the 4th quarter worth $22,528,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Verint Systems by 491.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 764,498 shares of the technology company’s stock worth $20,985,000 after purchasing an additional 635,334 shares during the period. Invenomic Capital Management LP increased its position in shares of Verint Systems by 116.5% during the 1st quarter. Invenomic Capital Management LP now owns 1,155,532 shares of the technology company’s stock worth $20,626,000 after purchasing an additional 621,707 shares during the last quarter. Finally, Philosophy Capital Management LLC acquired a new stake in shares of Verint Systems during the 1st quarter worth about $10,168,000. 94.95% of the stock is owned by institutional investors and hedge funds.

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.