Verint Systems’ (VRNT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Verint Systems (NASDAQ:VRNT) in a report issued on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $40.00 target price on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Evercore ISI cut their price objective on Verint Systems from $34.00 to $30.00 and set an “in-line” rating for the company in a report on Thursday, September 5th. TD Cowen lowered their target price on shares of Verint Systems from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Jefferies Financial Group dropped their target price on shares of Verint Systems from $32.00 to $28.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, Wedbush reissued an “outperform” rating and issued a $38.00 price target on shares of Verint Systems in a report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.67.

Verint Systems Stock Performance

NASDAQ:VRNT opened at $30.63 on Thursday. The business’s fifty day moving average is $23.86 and its 200 day moving average is $28.86. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 1.10 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.36 and a current ratio of 1.41. Verint Systems has a 52-week low of $21.27 and a 52-week high of $38.17.

Verint Systems (NASDAQ:VRNT) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The firm had revenue of $210.17 million during the quarter, compared to analysts’ expectations of $212.81 million. Verint Systems had a return on equity of 16.04% and a net margin of 8.49%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. Research analysts predict that Verint Systems will post 1.97 EPS for the current year.

Insider Activity

In related news, CFO Grant A. Highlander sold 3,389 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.85, for a total transaction of $87,605.65. Following the completion of the sale, the chief financial officer now directly owns 131,267 shares in the company, valued at $3,393,251.95. This represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Fante sold 6,330 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.85, for a total value of $163,630.50. Following the transaction, the insider now owns 91,334 shares in the company, valued at approximately $2,360,983.90. The trade was a 6.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,811 shares of company stock valued at $874,014. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Quarry LP increased its holdings in Verint Systems by 160.9% during the 2nd quarter. Quarry LP now owns 793 shares of the technology company’s stock valued at $26,000 after purchasing an additional 489 shares during the period. Innealta Capital LLC bought a new position in shares of Verint Systems during the second quarter valued at approximately $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Verint Systems in the second quarter worth $43,000. Quantbot Technologies LP bought a new stake in Verint Systems in the third quarter valued at $58,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Verint Systems during the 2nd quarter valued at $138,000. 94.95% of the stock is owned by hedge funds and other 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.